LP Digest #62
Misalignment, continuation funds, skepticism, and more
Last premium post: Minimum Viable Due Diligence - a minimalistic list of due diligence items you should know before considering an LP investment
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Announcements:
February LP Cohort: Review 4 deals with me and a small group of other LPs to learn what to look out for in deals. Please reply to this email if it’s of interest.
First deals on GP-LP Match will go out next week! If you’re an LP or GP join here in under a minute.
Gentle reminder that rents don’t always go up.. will write on gain to lease soon as well.
There are also ways to keep rents the same whiling giving discounts (concessions) which are harder to catch for LPs - keep an eye out
Execution is the first of my three LP Investing Pillars for a reason - very much agree here; important to note though that people aren’t the only thing that matters.
Partners are partners, until they’re not… more here on spotting GP/LP Misalignment
An interesting read from a major asset manager (Asness is the founder of AQR)
Healthy dose of skepticism will take you a long way (more here under #1)
Continuation funds will continue to be a hot topic into 2025, this is a great read
I’ve advised on many of these cases in the past, please diversify and consider reading:
Have a wonderful weekend!
Thank you for reading! I genuinely hope you found this helpful - the best way to say thank you is to spread the word.
I advise LPs on existing and potential positions and write articles here weekly on what I see in the marketplace that could help you invest better. You can find me on LinkedIn or Twitter.
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