Fundraising happens when you are not fundraising

While at a conference last month, I heard the line, “fundraising happens when you are not fundraising” in some form or other from speakers from members of at least three different panels. There is no chance I would have heard that statement come out of even a single panelist’s mouth five years ago.   The…

Create real relationships – Raise more capital

I don’t know how many people have told me that raising capital is about relationships. This is indeed true. In the majority of cases, no investor (regardless of the form they take) is going to invest without feeling they have a genuine relationship with the team they are allocating to. The real question most GPs…

How PDGP Fund I raised $1.4 bn using on social media

Not to flex, but our clients are so extra. I’m just here to spill the tea on the oversubscribed first and final closing of Poisson, Davril, Gowk & Partners LLP (“PDGP”) Fund I (“The Fund”), above target at 23,800 BTC. This is the current equivalent of USD 1.4 bn (obviously, we hope this will have…

It’s not easy being green: SFDR and communicating your ESG credentials

It’s not easy being green, opines Kermit the Frog as he wanders slowly through a claustrophobic garden of lush leaves and bright flowers – and he doesn’t even have to contend with the new Sustainable Finance Disclosure Regulation (“SFDR”). The bad news for you (at least if you ever plan to raise capital from European…

The forever fund: evergreen capital in private equity

The traditional private equity fund is a 10-year close-ended vehicle, with a five-year investment period and an average holding period of three to six years. Some argue that the time-limited model encodes short-termism into the private equity perspective. The manager’s decisions to buy, hold and sell investments are influenced or even ordained by the ticking…

What LPs do in the shadows

In the good old days of private markets fundraising, investors (LPs), competing for allocations, would flock to the relatively small number of fund managers, their access to information on the fund and manager tightly controlled by said manager. And all was well with the world. While some managers still engender this kind of feeding frenzy…

If you are not top of mind, you don’t exist

Often when we ask fund managers to define their target LPs, they depict these completely dispassionate, machine-like people, devoid of emotion. It’s as if they think the ‘institution’ is making the investment decisions based on a totally formulaic process to capital allocation – as opposed to people that leverage experience and investment acumen; people whose…

GP stakes investing – the rise of a new alternative strategy (part 2 of 2)

Recently, we looked at the reasons behind the rise of GP stakes investing – an investment strategy in which an investor or fund acquires equity interests in a fund manager, rather than one of the funds it manages. In this piece, we examine some of the risks of taking stakes higher up the asset manager…

GP stakes investing: Part 1 – taking private equity exposure to the next level

An investor looking for exposure to alternative assets generally invests in alternative investment funds and may also co-invest in the funds’ portfolio companies. But a third option has hove into the public spotlight in the last decade: investing in the fund managers themselves. This is a relatively new and fast-growing part of the asset class…

The investor journey and why it matters (Part 2)

Once you have an understanding of what it is like to walk in an investor’s shoes and emphasis with the investor journey, you will be in a better position to make the fundraising process a more productive and engaging experience for them. And in an over-crowded industry where products are most often “bought not sold,”…

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