How a capital raise runs, from first conversation to investor relations
November 1, 2026
Raising capital, by asset class.
These guides set out how capital is raised in four asset classes, what institutional allocators look at in each, and how we run a mandate.
Four asset classes
What you need to know
Each asset class is raised differently. The preparation starts with knowing how.
Private Equity
Closed-ended funds and single transactions that buy stakes in private companies, raised in closes from institutions and private wealth.
Private Real Estate
Funds, joint ventures and single-asset vehicles that buy, develop or reposition property, raised against a defined strategy or a named pipeline.
Private Infrastructure
Funds and vehicles that own energy, transport, utility, digital and social assets, raised from investors with long holding periods.
Hedge Funds
Open-ended funds and managed accounts that trade liquid markets, raised continuously and often starting with a founding investor.
Who does the capital serve?
Allocators invest on behalf of others. A pension fund invests for its members.
An endowment invests for the students and research it funds, and a sovereign fund for the citizens of its state. Every raise is read by people who answer for someone else’s capital, and we prepare each one with that reader in mind.
Further reading
View All News and Insights
What an investment committee asks before it commits
November 1, 2026
Reading a Form D
November 1, 2026
Private placements under Regulation D
November 1, 2026
Important information
For information only. These guides describe general practice, which varies between managers and allocators. Nothing here is an offer or solicitation to buy or sell any security, or investment, legal or tax advice.