Notes

The source of every LinkedIn post: one graphic, one idea, sources included. Longer pieces live in Insights.

The pitch gets you meeting one. The LP decides later. Staircase: meeting 1 the intro and the deck; meeting 2 answer last time's questions; meeting 3 bring something new; meeting 4 make it easy to check you; meeting 5 help them sell you inside; every meeting keep the rhythm. The LP decides here. Five or more meetings per committed LP is now standard.

The pitch gets you meeting one. The LP decides later.

25 October 2026 · Emerging managers

VC, PE, private credit: who are the LPs. Traditional vs emerging. Same money, different route. Institutional capital (pension funds, insurers, institutions, big family offices) goes direct to traditional managers with track record, fewer LPs and big tickets, and reaches emerging managers via fund of funds and emerging manager programmes. Direct from people: GP commitment, friends and family, angels and operators, HNWIs, family offices. Not skipped. Just one layer further away.

An emerging manager has three audiences. None of them is a pension fund.

24 October 2026 · Investor relations

Fundraising for emerging managers. The fundraising flywheel: a warm intro starts it, consistency keeps it turning. 1 Show up: one community, one thesis. 2 Reach out every week, not when ready. 3 Same 3 proofs in every meeting. 4 Same update, same cadence, from day one. 5 Trust brings the next intro. 5+ meetings per committed LP. The math of one first close, illustrative: €10M to raise, 40 LPs at €250K each, 160 met at 25% conversion.

The fundraising flywheel

23 October 2026 · Emerging managers

The fund I math. €30M first close, €600K a year to run a firm. 2% management fee on committed capital is the whole budget before the fund proves anything. €75K fund admin minimum, €525K left for the AIFM, lawyers, the team, travel and deal costs. SPV first. Fund second.

For most emerging managers, SPV-first beats fund-first

22 October 2026 · Emerging managers

Emerging managers. Three problems every emerging manager is stuck on. 1 Getting capital: a sales process, trust still comes from people, not AI outreach. 2 Choosing the right structure: institutional enough to convince LPs, lean enough to survive on the fee. 3 Creating value: the actual job, hard without a CRM, repeatable outreach and LP reporting.

Three problems emerging managers are stuck on

21 October 2026 · Emerging managers