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Alternative Market Briefing

Alternative asset industry’s initial fund marketing materials do not meet investors’ needs

Friday, October 04, 2013

Benedicte Gravrand, Opalesque Geneva:

There is a record 1,990 closed end unlisted private equity, real estate and infrastructure funds in the market, says financial research and advisory firm Preqin, all vying for investor commitments. To raise funds, fund managers must cast their net wider than the usual areas, and must provide the information that investors want to see – and in the correct format.

In its latest report called Best Communication Practices for Fund Marketers – Private Equity, Real Estate and Infrastructure, the research house examines the reasons unsolicited fund proposals do not make it through the initial filtering stage, and what investors actually want to see in a marketing document.

The report draws on the results of Preqin’s survey of more than 100 accredited institutional investors in August 2013. This survey revealed that investors want (1) "clear and standardized information from fund managers when receiving initial fund marketing documentation" (2) tools that enable them to compare fund marketing metrics.

Moving targets 61% of the investors surveyed find new opportunities via a direct approach from a fund manager, although as last year it was 72%, this suggest that investors are being more proactive when sourcing new investments. 37% of investors use placement agents, compared to 55% in 2012......................

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