The European investor base has evolved from local pockets of LPs supporting domestic managers into a diverse mix of investors with different objectives, priorities, and manager selection criteria. How should GPs approach this diverse set of potential investors, and how can managers direct their fundraising efforts to the pockets of investors where their offering is most likely to gain traction?
A panel of GPs, LPs & advisers will discuss the transformation and what this means for managers
• The European LP base today vs. 15-20 years ago? What is the same and what is different?
• Breaking down the European LP base. Who are the constituents? What are the risk appetites, asset class preferences, and expectations of LPs in each of those categories? Discussion to cover the pension funds, insurers, and family offices across the EU, their allocation strategies, approach to manager analysis, and due diligence.
• The opportunity for non-EU managers. Why should 3rd-country managers access EU LPs?
• What does AIFMD require of non-EU based managers marketing funds to EU based investors? How does this compare to going down the private placement route?
• The mechanics of setting up structures in the EU. What are the roles of the administrator, the depositary, and the AIFM? How best to cover these bases? i.e. one-stop solution vs. separating the functions?
• What are the differences between raising from small, local players and large, pan-regional and pan-global institutions?
• The approach of mid-market funds seeking €1bn or less who used to rely on domestic investors but have now had to start looking outside home markets?