GPs are in fact expanding their platforms by adding strategies focused on areas that are increasingly of interest to investors. This allows GPs and LPs both to do more with their existing relationships, which has been particularly helpful in a remote environment, where building new relationships is difficult.
So, there you have it. A real live, data-backed trend. And might I say, I totally saw it coming.
We are left to wonder what comes next. Will infrastructure and growth continue to become a larger part of GP expansion strategies, or will they disappear the way that natural resource-focused efforts faded post 2015? Count me in the camp of expecting the former. And what strategies will emerge next? This is purely speculation at this point, but don’t be shocked if you start seeing PPMs for impact or renewables funds.
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