Reporting from the 21st Annual Buyouts East conference at the Grand Hyatt in New York, I bring you the highlights of this morning’s LP panel. In a lightening round, panelists were asked if they would back a first-time fund this year. Here are their answers:
Barry Gonder, Grove Street Advisors: Maybe. If it were a spin-out of a top tier manager who teamed up with some serial entrepreneurs, or a top decile manager.
Kevin Kester, Siguler Guff: Maybe. We have in the past, so if it it within out funds-of-funds strategies, such as BRIC or distressed, then yes.
Bill Walsh, Portfolio Advisors: Yes, we will probably do one or two. The host of those will be done through secondary deals, though.
Charlie Van Horne, Abbot Capital: No, unless it was a spin-out.
Other highlights from the panel, including the panelists’ thoughts on the New York pension pay-for-play scandal and GP/LP relations, after the jump.Continue