A few notes from the International Search Fund conference at IESE Barcelona

Dear searchfunders,

The delegates have now returned to their respective searches after a good 2 days studying the search fund model. It was a pleasure for me to meet so many searchers and investors. I am pleased to have met a few wonderful people with whom I've started collaborating! Here are a few extracts from my notes from the first day. Please comment with your own learnings from that day and the following. How did the conference go for you?

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  "No now does not mean no never. Keep following up with your contacts, until their situation changes, and they are ready to sell 
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  Most of my deals are proprietary. I only use brokers for companies in a bad shape, but I try to avoid competition". (Alberto Betancourt, Colombia)
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  "Watch your behaviour during fundraising; investors will infer from that what kind of manager you will be. Having dinner with them is a great litmus test."
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  "Never compete with private equity"' (Dr Thomas Bühler)
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  "If you are searching outside the US, it's always good to have local investors, who can advise you, leverage their network, and actually be present at meetings. "
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  "Practice your dealmaking ability with broker deals"(Fernando Guillem)
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  "It's currently a seller's market, multiples are crazy right now" (Mark Egan)
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PS : I'm organising a London monthly Mastermind for searchers, as well as a FAME (database) masterclass. Please join the London group to know more.