Operational Due Diligence: What LPs Actually Check Before Wiring Capital to an Emerging Manager
Operational risk, not bad stock picks, causes roughly half of all fund failures according to a landmark 100-fund study by Capco. In 2026, 87% of institutional LPs surveyed by Altss said they had...
The Quiet Tax on Weak Service Providers in a Fund Raise.
The Quiet Tax on Weak Service Providers in a Fund Raise Most emerging managers think credibility lives in the pitch, the deck, or the track record slide. It doesn’t. Credibility also lives in the peop
Operational DD Starts Before the PPM
Most fund managers think due diligence begins when the private placement memorandum hits an investor’s inbox. It doesn’t. Operational due diligence often starts the moment your process becomes visible
Why the Best GPs Build for Auditability Before They Build for Scale.
Most emerging managers think scale is what earns trust. It is not. Trust is earned when an LP, auditor, administrator, or counsel can follow your decisions without guessing what happened, who
The Cheapest Fund Admin Is Usually the Most Expensive Mistake in the Raise.
Most fund managers think of fund administration as a back-office line item. That is exactly how they end up paying for it in the front office. A cheap fund admin does not usually blow up your raise