LP Investing Digest #43
LP Investing Digest #43
Tweets on investing, and anything else helpful to LPs
Last premium post: Will a rate cut(s) save distressed investments?
Last free post: LP Investing Digest #42 & Full Article Index
Announcements:
LP Topics Seminar: an ongoing biweekly 1 hour meeting with other LPs where we'll go over investment decks, capital call and distressed situations, and modeling. This is meant to provide a deeper look into existing LP investments. Please reply to this email if you’re interested.
LP Cohort: I have space in the September cohort. Please reply to this email if it’s of interest. Review 4 deals with me (4 consecutive weeks) and other LPs to learn what to look out for in deals. I recommend doing this before the LP Topics Seminar.
Happy Friday and welcome back to the LP Investing Digest!
As a reminder, none of the posts/links are a recommendation to transact or invest with the poster.
An interesting post on industrial supply (see more in link)
Recommend reading this to understand ways in which a GP can contribute their coinvest. To learn more about the importance of the coinvest in alignment between GP & LP see here.
On the topic of saving in your younger years, I tend to agree with this (he later clarified that this excludes contributing the minimum to get the employer match, which I agree with as well). Interesting discussion therein
Sharing the below to illustrate an important investment principle. You should generally assume that whenever you’re presented an investment opportunity, someone else pass on it before it got to your inbox. If you can’t figure out why (i.e. the risks that made it not worth it for someone else), you likely shouldn’t invest. For more on this topic see here.
I continue to think that some form of new rent control (or policy disguised as something else while having similar impacts) will have the most meaningful impact on the multifamily market over the next decade
Helpful primer on financials for LPs in funds
A worthwhile short watch on investing
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.
Whether you’re an LP, want to learn to become one, or affiliated with LPs (GPs, Attorneys, CPAs, Wealth Advisors) I hope you’ll consider subscribing and sharing this post to help others make more informed investment decisions.
When you’re ready, I could help you in 3 ways - simply reply to this email if one is of interest:
Limited Partners:
Potential positions - you’re considering investing and need an independent opinion
Existing positions - there’s a lack of communication, you’re concerned about fraud, or perhaps you got a capital call request and you’re not sure how to proceed. I have also helped LPs with a “post-mortem” analysis on deals that didn’t work out - it’s important to learn these lessons as opposed to just blaming the GP.
LP Cohort - review 4 separate memos together with me and other LPs to learn how to vet LP investments.
LP Topics Seminar - an ongoing biweekly 1 hour meeting with other LPs where we'll go over investment decks, capital calls, distressed situations, and modeling. This is meant to provide a deeper look into existing LP investments. Please reply to this email if you’re interested.
LP Investing Lessons Podcast - learn from others investing lessons here. if you're an LP with lessons learned from a successful or unsuccessful investment, consider replying to this email to share your knowledge with others. Both the LP and GP in the recording are kept anonymous.
LP Community - join my free 2,300+ member LP community on Twitter
Find GPs in unique asset classes/geographies on my monthly Twitter intro post (see LinkedIn’s post as well for more)
General Partners:
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
Investment review - I’ll provide independent feedback on an opportunity you’re pursuing
Capital call advisory - you suspect that you’ll need to make a capital call, but aren’t sure how to proceed or communicate the message.
Other - anything from waterfall/fee advisory to disagreements between co-GPs on the proper path given a set of circumstances
General Consulting: modeling, strategic advisory, underwriting training, etc.
If you’d like to speak on the phone, you can reach out to me any time at aleksey@hey.com