Bigger is Not Always Better: How Emerging Managers Should Think About Fund Size

During an initial client consultation with fund managers, one of the first questions we ask is deceptively simple: “How large do you want the fund to be” or “How much are you raising?” When we ask why, the conversation can quickly become very interesting as the target set by the fund manager can be driven...

Scroll through most private fund newsletters this year and you’ll see the same three words used over and over: “evergreen”, “continuation”, and “liquidity.” The headlines make it seem like every sponsor is racing to include a semi liquid option in their strategy. However, most of these articles are written for funds managing billions, not for...