fundless sponsors

3 statements across 2 episodes · 2 bullish · 1 bearish · 2 people on the record · first statement Dec 10, 2018 by Brent Beshore · across every show →

Everything said about fundless sponsors, oldest first

Dec 10, 2018 negative
Insight
Beshore: Competitors inflate bids by 30-40% with no intent to close
“Oftentimes we'll lose deals because other groups will come in and throw out a valuation that's 30, 40% higher than ours. They have no intention of ever closing. And on top of that, if you're a fundless sponsor, you don't even raise the capital yet. You haven't…”
Brent Beshore Dec 10, 2018 ▶ 48:30 Brent Beshore - Micro Buyout Adventur.es (Capital Allocators, EP.79)
Sep 18, 2023 positive
Disclosure
Muthiah backs fundless sponsors to solve for private equity unfunded leverage
“Fundless sponsors in today's market, mostly because it solves for private equity exposure without the unfunded commitment leverage, and as does co-investments. So for us, it's more driven by solving for unfunded than fees.”
Muthu Muthiah Sep 18, 2023 ▶ 47:32 Muthu Muthiah - Inefficiency and Innovation at CHOA (EP. 339)
Sep 18, 2023 positive
Insight
Muthiah: Fundless sponsors wait for fat pitches without ticking deployment clocks
“Because people don't have this unfunded commitment clock ticking on them, they wait for pretty fat pitches, because if they don't get the fat pitch, then they don't raise fund one.”
Muthu Muthiah Sep 18, 2023 ▶ 49:15 Muthu Muthiah - Inefficiency and Innovation at CHOA (EP. 339)
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