Volkert Doeksen, CEO and Managing Partner at AlpInvest Partners, doesn’t like the word “proprietary.” When asked what he perceives to be the greatest fault of GPs at today’s Private Equity Analyst conference, Doekson said, in fundraising, too many GPs try to emphasize their proprietary deal flow. Based in London, New York and Amsterdam, AlpInvest has more than 40 billion euros under management.
The question was posed in a “Five Questions” rapid-fire style. Check out the other four below:
Q: What’s private equity’s theme song?
VD: Kenny Rodgers – The Gambler. It’s got the lyrics ‘Know when to hold and know when to fold.’
What’s the one thing you would have have done differently over the last year?
I would have sold my house in the Hamptons.
What is the best thing about the current deal environment?
Realism is Back. In some ways, our job will be easier, because this is the time that you see the men separated from the boys.* Such a realism is good for any industry.
What is the best quality for a GP to have?
Ones that instill a sense of a real partnership, that we are really partners.
*Dow Jones’ intrepid interviewer interjected here to point out that we will also see the women separated from the girls.