Chris Witkowsky
Certain characteristics help a new firm stand out in the crowded yet sluggish fundraising market, and Weymouth's firm is in position as a seeder to sort out those firms building for the future.Â
In a conversation with Warburg Pincus CEO Chip Kaye, Eneasz Kadziela, the head of private equity with the New York City comptroller, said the frantic fundraising pace of 2021 was something of a burden for LPs.
A panel of LPs discuss trends and themes in private equity, including the use of secondaries to rebalance portfolios.
Two first-time managers spoke about their experiences starting their own firms and the challenges they have faced, especially trying to convince limited partners to come on board.
The firm is testing the fundraising markets that are historically tough, with limited partners being selective with their capital as they face overexposure and liquidity issues from slow distribution activity.
Many firms field investor relations groups that work with existing limited partners even between formal fundraisings.
These women reached senior ranks in private equity, but wanted more – so they started their own shops.
The managing partner discusses what went into founding Coalesce Capital, whose debut fund recently closed at $900m, pointing out that there's really no 'How to set up a PE firm for dummies' guide.
While demand among GPs for liquidity options to pay back LPs in older funds is strong, the limiting factor is the relatively small pool of capital available for such deals.
Some good news, perhaps. The exit outlook has improved slightly, but is still not where it needs to be to make fundraising easier than last year.
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