London, 9th January 2021. Mainspring, a leading provider of Fund Administration and Custody services for alternative investment managers, has today announced the appointment of Norman Watson as Director, Head of Sales. Based in Mainspring’s London office, Mr. Watson will report directly to Stephen Geddes, CEO & Founder. Mr. Watson will be responsible for Mainspring’s ongoing revenue growth and account management functions. This newly created senior management position is a critical part of Mainspring’s strategy as the company continues to focus and expand
So you successfully raised your fund and have now invested it in a portfolio of (hopefully performing) investments. Now, four years down the line, you are thinking of returning to market to raise a successor fund. Let’s take a look at the most important considerations. Timing At first look, it would seem the timing of a successor fund is fairly obvious – it’s when you are out of capital! In reality, it is not as straightforward as that and managers in fact have
Your fund has held a first close and you have some money in the ground, having executed your fund’s first deal. Now you need to start thinking about how you report on your activity to your investors. Of course, your latitude here is limited: the Limited Partnership Agreement (LPA) for your fund will detail what is required when it comes to reporting, including provisions around the timing of reports (how frequently; when after the reporting end date they need to
So, having now been managing your deal flow and building up a pipeline of potential investments for your new fund, you have identified what you feel is an attractive first investment. What considerations should you keep in mind when making this first investment? And how will you fund it? Building up a portfolio of investments quickly has the benefit of providing a more fully-formed story to sell to investors in later closes, as you will have proven the ability to execute