LP Investing Digest #47
LP Investing Digest #47
Tweets on investing, and anything else helpful to LPs
Last premium post: LP Investing Lessons Podcast #8 - fascinating episode with someone involved in politics covering rent regulation’s impact on values and more
Last free post: LP Investing Digest #46 & Full Article Index
Announcements:
LP Cohort: Please reply to this email if it’s of interest. Review 4 deals with me and other LPs to learn what to look out for in deals.
An interesting discussion on self managing; there are a lot of benefits to self management, but I do think the vertical integration is generally oversold relative to what actually happens internally (particularly when scale is sufficient to make sense of self management)
Fascinating insights into manager selection (short summary is that it should feel hard to pick the right person to give your money to)
Some helpful waterfall illustrations, including the GP catchup - recommended LP reading .. or viewing :)
This is a subtle but really important message about data center real estate and supply/demand at large - structural changes come fast
A useful guide to understanding one nuance within affordable housing (section 8 specifically)
An interesting look at rent growth across major metros
An inside look at uninsured deposit balances at large banks (see link for full post)
What I’m reading:
Many people ask me about macro commentary that I enjoy. Alfonso Peccatiello runs a large (nearly 150,000 subscribers!) newsletter that has great insights.
You can join his free newsletter by filling out this short form.
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 2,500+ 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