Raising a fund is selling a 10–12 year blind-pool promise to the most sophisticated buyers in finance. The Limited Partnership Agreement (LPA) is that promise written down. This section covers how fundraising works, the economics in the LPA (2-and-20, the hurdle, the waterfall, the GP commitment), the institutional LP base, and how the relationship is managed once the money is in.
What the study covers
- 1Overview
- 2How it works
- 3Economics and key numbers
- 4Key players and landmark moments
- 5Risks and pitfalls
- 6How an expert thinks about it
- 7Glossary
- 8Related sections