In the VentureBeat article "VC investing still strong even as median time to exit reaches 8.2 years" author Adley Bowden of Pitchbook discusses a few items that gave me pause.
Private equity funds (buyout, venture capital and growth equity funds) are typically structured as limited partnerships, which have two types of partners: limited partners, or LPs, which are passive investors in the fund; and a general partner, or GP, which is the manager of the fund. As I evaluate funds, one of the fund terms that receives special attention is the amount of money the GP will commit to the fund - which is called "GP Commitment", "GP Capital Commitment" or "GP Commit."
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Reuters recently posted an article "Super-rich private equity stars rue 'lousy' reputation, say they are misunderstood." The article reports that Stephen Schwarzman of the Blackston Group and other private equity pros feel that the industry has a public relations problem.
This article comes on the heels of some other public comments made by others in the industry and outside the industry which have re-kindled a long-standing debate about the merits of the private equity industry.
I have previously posted about this topic, and I think the prior posts help to frame this article.
Link to Reuters article:
I am pleased to be a panelist at the upcoming Emerging Manager Connect West 2017 conference on May 11, 2017 in San Francisco at the Marines Memorial Club and Hotel. I will participate on the panel "All In The Family: How Family Offices View Emerging Managers, And The Best Ways For Managers To Approach Them." It should be an interesting panel! Link to conference website: https://partnerconnectevents.com/emcw2017/index.php
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