WE THE PEOPLE, in order to grow this alternative investment
fund, establish investors, ensure profits and our own domestic
tranquilityMarketer does hereby solemnly swear
1) To represent fund to the best of their professional ability,
and not to annoy investors, misrepresent strategy or returns or
disparage fund pe rsonnel post-engagement (if applicable).
2) To not register the entire Preqin, FinSearches, NACUBO or
other investor database as exclusive contacts.
3) To have a Rolodex that is appropriate for the size and
strategy of the fund and to be honest about increased timelines or
reduced allocations if not.
4) To stay in front of potential investors, at least with
monthly updates, until they ask you to quit updating.
5) To use fund-supplied marketing materials or materials
approved by fund compliance personnel.
6) To understand the funds strategy & to know at least the
names of the funds with similar strategies.
7) To respond to all applicable RFPs in a timely and
professional manner.
8) To keep track of the number of meetings and shall categorize
them by 1st or 2nd meeting or other such system that demonstrates
progress (or lack thereof) & to provide a regular report to
fund management with number of meetings, stages, and probable
allocations.
9) To not answer due diligence questions if they arent 100% sure
of the answer.
10) To manage asset raising expectations of fund management
personnel.
Fund Management does hereby swear 1) To understand the timetable
for
raising assets, which is currently averaging 9-15+ months from
first intro to check.
2) To understand that as much as you think underperformance is a
buying opportunity that investors, who are sometimes guilty of
chasing performance, often want to see strong numbers before
committing capital.
3) To remember only 500 funds manage more than $1 billion &
50% of funds manage less than $100 million. Not getting to $1
billion in AUM in a year isnt just ok, its normal.
4) To produce high-quality marketing materials & DDQs with a
strong and differentiated message.
5) To provide monthly commentary for regular communication with
prospects.
6) To measure more than just AUM raised, particularly in early
days. How many meetings and their stages (1st, 2nd, due dil.,
final) are also useful measures.
7) To participate in meetings & RFPs when asked by
marketer.
8) To not nickel & dime marketer over prospects. If you met
someone once 10 years ago & havent talked to them since, thats
not a prior relationship.
9) To have my sh*t together, operationally speaking.
10) To educate marketer and potential investors about strategy,
market opportunity, risks & competition.
