LP Digest #79
Evergreen funds, GP succession, GP/LP Alignment, and more
Last premium post: Forget IRR - start with Sources & Uses - why the sources & uses table is far more useful than most LPs think
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Articles recently got added to Twitter/X and this one (written by an affordable housing GP that I know) was worth a read
Evergreen funds are undoubtably on the rise, but are they practically too good to be true? I thought this was an interesting post.
An interesting post on the relationship between allocators and emerging GPs (mostly written for VC, but the concepts are ~equally true for CRE) - see link for full post. I also wrote on emerging managers here.
A thoughtful note on GP succession - I’ve mentioned this before but I think one of the most overlooked risks within LP investments is key person risk
Just a reminder that not all GP-LP alignment & incentive structures are created equal - it’s particularly important to understand what’s normal and what’s not, and it’s ~impossible to do that without education and effort. A few related articles that I’ve written are:
When you’re ready, I could help you in 2 ways - my email is aleksey@gplpmatch.com:
Limited Partners:
GP-LP Match - a simple (and free) way for you to get more deal-flow that matches your precise LP parameters. You can also search for GPs with very specific criteria. Join here in under a minute.
Potential/existing LP positions - advisory work on LP investments
LP Education - self paced recordings to learn more about LP investments
LP Community - free 2,800+ member LP Investor community on Twitter
General Partners:
GP-LP Match - a simple (and free) way for you to reach LPs. You can join here in under a minute.
Deck review - I’ll look over your marketing materials from the perspective of an LP and provide slide by slide commentary to improve your pitch and how your terms compare to market