A careful analysis, from an investor’s perspective of the General Partner’s investment strategy, team dynamics, track record, and fund structure, particularly these key aspects:

• Investment Strategy

o Geographic coverage
o Investment stage
o Differentiators
o Exit strategies
o Sector focus
o Deal flow
o Deal size
o Leverage

• Team Dynamics

o Succession
o Experience
o Economic
o Expertise
o Stability
o Balance

• Track Record

o Net IRR and Multiples
o Manager Attribution Analysis

• Key Terms

o Fees
o Carry
o Hurdle
o Fund Life
o Drawdown profile

From this analysis, we work with General Partners to develop a marketing strategy, and supporting documentation, to accurately and effectively communicate the right message to potential investors.

Prior to investor meetings, we can work with GPs to refine and focus their presentations, ensuring that they are fully prepared for interaction with an astute and challenging audience, from a variety of different cultural backgrounds. Additionally, we develop a communications strategy to establish and maintain a focussed dialogue between the General Partner and potential investors throughout the fundraising process.

From our extensive databases, we develop investor target lists that match the fund offering, in accordance with any investor profile that the GP may have. Subsequently, we introduce the Fund to potential investors by email and telephone and provide sufficient information to pre-qualify them for meetings.

We then plan roadshows, generally across Europe first, then in the Gulf and elsewhere, to introduce GPs to investors that already have a clear understanding of the offering, and have expressed an interest, in principle, in making a commitment to the fund. The trick here is to sift-out investors that are merely curious and those that are building fund manager databases. We prioritise meetings effectively, use time efficiently and undertake all administrative and logistic aspects of the trip, including flight/train/car itineraries, hotel bookings, etc.

During the roadshows, one member of the Cygnus Team will accompany the GP at all times, handing over to colleagues as appropriate, to get GPs to the right place at the right time, to provide pre-meeting briefings about each investor, make introductions, carry presentations, take notes etc.

During meetings, we contribute fully to the dialogue, to help GPs to adapt their presentations to investors’ specific needs and to ensure that investors’ requirements for information are met fully.

Immediately after each roadshow, we provide meeting notes quickly; identify follow-up actions required (and work with GPs to fulfil these); follow-up immediately with the investors that we have met, etc.

Prior to subsequent roadshows, we work with GPs and investors to maintain the dialogue, in accordance with the communications strategy (and to report other events, such as exits, deals etc), to sustain and develop investors’ interest.

Additionally we follow-up with each prospective investor, supporting the flow of information between them and the GP, as due diligence is undertaken, to drive the process towards a commitment. We ensure that no balls are dropped. With GPs’ primary focus on deals, we ensure full continuity with investors until a conclusion is reached with each one.

Subsequent to fundraising, we continue to support GPs’ communications with new LPs and keep in close contact with those investors that didn't quite make it, for a variety of reasons, (timing, capacity, capital constraints, etc). This engenders a positive mindset for the next fundraising effort.

Top of page