Fundraising: When LPs Grill CEOs
The intense process of conducting due diligence and reference calls directly with portfoliocompany executives. Pt 3 in a fundraising series with Pawan Chaturverdi of Altius Associates, Matthew Pedley of Blackstone and Jennifer Cho Rinehart of MVision
In today’s market, fundraising means hundreds upon hundreds of reference calls between LPs and portfolio company executives. It is a level of due diligence that some CEOs find exasperating. What exactly do these investors want to find out? How to prepare these busy executives for a “deluge” of phone calls? In the third segment of this essential thought-leadership series, Pawan Chaturverdi, a Partner at Altius Associates, Matthew Pedley, a Principal at The Blackstone Group, and Jennifer Cho Rinehart, a Managing Partner at MVision Private Equity Advisers share best practices in conducting and facilitating portfolio-level due diligence.
Topics discussed also include: how to maximize the quality of reference calls, what to expect in cases where a portfolio investment is not doing well, what investors want to know about valuation policies, and the sensitive issue of making forward-looking projections.
This program is a must-see for any GP about to hit the fundraising trail and for any LP researching best practices in the due-diligence process. The first video in this series is “Track Records and Transitions."
View the full video here - http://www.privcap.com/
Jennifer Cho Rinehart
MVision Private Equity Advisers
Jennifer Cho Rinehart joined MVision in 2001 at its foundation. She is a highly experienced private placement advisor with a strong investment banking background.
At MVision Jennifer manages and oversees global fundraisings, evaluates General Partners in North America, as well as maintains her limited partner relationships with the endowment, foundation, pension and insurance community.
Previously Jennifer worked in the Private Equity Group within the investment banking division of Merrill Lynch, where she performed company, industry and transaction analysis relating to advisory fund raising assignments. Responsibilities included extensive due diligence, preparation of investment track records, analysis of trends in the private equity market, drafting of General Partner presentations, and examination of General Partners investment history and future strategies. Jennifer graduated Cum Laude from Yale University with a Bachelor of Arts degree in Ethics, Politics and Economics.
Pawan Chaturvedi is a Partner on the Altius Global Investment Team and is an Executive Director of the firm. Pawan is based in Richmond. Prior to joining Altius, Pawan held positions at Sprint Corporation. Previously, he was a faculty member at the University of Kansas with appointments in the departments of Radiology and Electrical Engineering & Computer Science. He has an MSc in Physics from the Indian Institute of Technology; a PhD in Electrical Engineering from the University of Kansas; and an MBA from the Wharton School of the University of Pennsylvania. Pawan speaks English and Hindi. Pawan joined Altius in 2005.
The Blackstone Group
Matthew Pedley is a Principal in the Investor Relations & Business Development Group. Since joining Blackstone, Pedley has been involved in fund raising for Blackstone’s private investment funds and maintaining relationships with the firm’s limited partners. Before joining Blackstone, Pedley worked as a Vice President in the venture capital arm of Alliance Bernstein, where he was responsible for venture investments in the technology sector, limited partner relations, fund-raising and legal documentation for the fund. Prior to AllianceBernstein, Pedley was a Senior Associate at Crosslink Capital, where he was responsible for venture investments in the technology sector. Prior to that, Pedley was a Senior Consultant with Andersen Consulting, where he provided strategic and business process guidance to the world’s largest technology companies. Pedley received his BA in Mechanical Engineering from Columbia University.