PRE-DEAL PREP

The Pre-Marketing Process

In a competitive market with many investment managers seeking a portion of each investor's annual alternative asset allocation, having an organized premarketing process in place at the start of each project is crucial.

Many large institutions, particularly public pensions with lengthy and clearly defined investment approval processes, begin developing their list of funds to pursue for each year's commitment allocation at the beginning of the year, or even at the end of the prior year. Since marketing calls and roadshow meetings typically stretch over multiple months, it is important to contact certain key investors and consultants early in the fundraise to secure a spot on their list of funds to pursue.

Additionally, certain investors and consultants with particular experience and interest in the offering's investment strategy can provide valuable early feedback regarding fund terms and positioning of the fund relative to other managers they may be considering. As appropriate, USCAP will schedule premarketing meetings with certain investors even before the PPM has been completed to solicit such feedback. Many investors with whom we work closely appreciate such a 'first look' to ensure they are fully aware of the merits of the fund offering, can reserve a potential slot in their annual allocation, and have an opportunity to influence particular terms of the offering.

Areas of Particular Attention in our Pre-Marketing Process:

  • Prepare summary 'teaser' to notify investors of fund timing and key offering details

  • Identify select group of target investors ideally suited for the fund based on investment strategies of interest and current portfolio allocations

  • Distribute teaser to first wave of investors, consultants, and gatekeepers

  • Initiate dialog with selected target investors and determine early interest

  • Schedule selective premarketing meetings to collect early investor feedback

  • Collect feedback to gauge market interest and identify any potential issues in structure, terms, or timing

  • Prepare and coach management team for investor roadshow presentations and identify probable Investor questions

© 2002 by The AmeriCorp Group

a Division of the IFC

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