Accelerate your Team's Performance through shared Expertise, Experience and Insight
In addition to our existing training offerings, some of our clients require a more hands-on approach to solving the specific challenges that they face, which may incorporate consulting and coaching.
Working at both LP and GP level, we have a range of offerings:
1. Investment team recruitment, structuring and development
2. Managing investment teams
3. Performance appraisal and enhancement
The consistent theme in this form of performance consultancy, at both LP and GP level, has been the blend of:
• Introducing or enhancing processes and systems which institutionalise and capture experience and best practice
• Team development (a mix of training and coaching) focussed on helping executives understand why best practice has emerged from experience across the PE industry, and how to apply it in their day to day roles.
For an initial exploratory conversation to see if we can help you, please contact us.
We look forward to working with you.
Kapriel Kasbarian, Director
Tel: +44 207 193 5423
Performance Enhancement – LP Case Study
The Client’s Challenge
A large and long standing institutional investor in emerging market PE funds, with a large and varied portfolio. Issues were:
• Unexpected levels of volatility in portfolio performance
• Lack of correlation between anticipated and actual performance
• A clear need to enhance, and systemise, the GP and PPM review and appraisal process
The assignment consisted of two distinct elements:
• First, independent reviews of existing appraisal processes and historic portfolio performance.
• Second, structuring and implementation or enhanced appraisal and post investment monitoring processes.
The portfolio review centred on a comparison with a broader data set of EM PE performance statistics, to identify client specific variations. This highlighted some key issues, which we were then able to link directly to areas where the appraisal process could be enhanced.
The enhanced appraisal process, built on the results of the first part of the assignment, included as major elements:
• Greater emphasis on GPs’ execution capability looking forward in the context of a proposed new fund, and reduced reliance on (an often irrelevant or only partly relevant) track record
• Greater integration between the various appraisal functions within the client
• An explicit recognition of the need to develop, and empower, executive judgement over a reliance on process; and
• A more assertive approach to post investment management with specific emphasis on measures to address style drift and GP underperformance at an early stage.
Performance Improvement – GP Case Study
The Client’s Challenge
A well established, emerging market GP with a strong historic track record, which had been delivered by a small, entrepreneurial team of founders. This track record had enabled the raising of ever larger successor funds, which in turn necessitated relatively large scale executive recruitment. Issues were:
• How to maintain the original creative, entrepreneurial spirit across a much larger group including many new recruits
• Imbuing and developing a strong, and consistent, understanding across the executive teams of how value is created and realised in their specific PE markets.
• Developing and implementing processes – whose value had to be recognised and accepted across the executive teams – which enabled lessons from experience to be captured, institutionalised and shared.
This assignment was again delivered in two parts:
• A highly interactive training process, in which both experienced and new investment executives participated, designed to harmonise thinking, approach and investment philosophy across the entire executive team
• A review of the processes and tools used by long established, consistently successful GP’s in mature markets that enable them to capture experience and continually upgrade their collective performance. This review provided the client’s executive team with a menu of tools from which they, with guidance, were able to select and develop their own system of performance review and enhancement processes.