Emerging Managers
A first or second institutional fund asks allocators to back a team before its record is long. We prepare emerging managers for the questions that decide it, before the first investor asks them.
First-time private equity funds closed by the middle of 2026
36
First-time funds closed in 2021
297
Note: Global private equity. PitchBook, as cited in our analysis Fewer, larger funds.
Emerging managers
A first fund is judged on the team before the numbers, and on how that team answers the questions allocators ask of every new manager.
Allocators look at who else has committed, so a raise with nothing sold asks each of them to go first. We prepare the case before the first investor reads it.
Team and attribution
Who makes the decisions, how long the team has worked together, and which results belong to the people now in the room.
General partner commitment
What the team itself puts into the fund, which allocators read as a statement of conviction.
Sequence to a first close
A stated date and figure, with the allocators most likely to commit early approached first.
When managers come to us
The situations that bring a first-time manager to us.
If you are raising a first institutional fund, come to us.
Allocators are asked to back a team before its record is long. We build the case around who made each result and how the raise reaches its first close.
If you need an anchor investor, come to us.
The first commitment decides how every investor after it reads the raise. We take the raise to the investors most likely to anchor it, in a set order, before the market has formed a view.
If the deck is not getting past a first read, come to us.
We rebuild the materials around the questions an investment committee asks, so the answers are on the page before the meeting.