Consultants & Funds of Funds
Investment consultants advise institutions on which managers to back. Funds of funds and outsourced chief investment officers invest on their behalf. Together they shape which managers many institutions ever see.
Secondaries fund at close
US$6B
The target for the same raise
US$3.5B
Source: DealStreetAsia, October 22, 2026, on Pantheon Global Secondaries Fund VIII and related vehicles, announced October 21, 2026. Inaya Advisory is not affiliated with any firm named.
The gatekeepers
For many institutions, a manager is considered only after a consultant has reviewed it.
Behind every consultant is a list of clients, from pension plans for public workers to endowments and foundations. Its research is how many of them first learn about a manager, so its review is detailed and documented.
Process and repeatability
A process that is written down, applied consistently and owned by more than one person.
Operations and attribution
Valuation, controls and service providers, and a track record shown deal by deal with the role of each person.
Terms against peers
Fund terms and governance measured against a peer group the consultant already covers, with any difference explained before it is asked.