Challenges facing the client:
- Need to diversify its investor base to broaden the geographic spread outside its home country for the first time
- Fundraising launched in the middle of a financial crisis
- Partner team expansion and succession planning
- Expansion into a new market
- Previous fund wholly unrealised
- Governance changes
Acanthus facilitated the fundraising process by:
- Drafting Presentation Materials, the Private Placement Memorandum and extensive due diligence material on all aspects of the firm, its track record, its ability to create value over time and explaining the governance
- Highlighting the measures the client took to address the difficulties of the financial crisis and protect value
- Devising a targeted fundraising strategy and establishing contact only with a select group of target investors ideally suited to the fund
- Preparing management for, and co-ordination of, the investor roadshow
- Providing first point of contact in responding to due diligence questionnaires, reducing the drain on management time
- Advising and close involvement in legals from structuring through to closing, marrying up local practice with international standards
Achievements:
- Fund size increased by 35%
- The number of investors has more than doubled and, moreover, includes many prestigious names