Is it too late to raise from investors for traditional?

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May 01, 2024

by a searcher from University of Maryland - Robert H. Smith School of Business in Washington, DC, USA

Hi, I'm currently raising my traditional search fund. I have reached out to some investors and it seems that a decent amount of them have already written their checks for the searchers they can back for the year.


Are there any investors still looking to back? Would love to chat! Thank you!

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Reply by a searcher
from INSEAD in Warsaw, Poland
Investors are probably in a better place to comment. However, for what it's worth, based on what I hear from people fundraising ATM:
1. "I have already committed all the funds for this year" has anecdotally been mentioned in some of the recent conversations and many searchers are discussing the timing and seasonality (especially in the US)
2. Nevertheless, searchers with very strong profiles still have no issues raising the fund (or even being oversubscribed)
3. List of the funds/individuals investing into search funds these days is long - searchers who open up the aperture and have patience may still have a very good chance of raising, even if not from your initial list of target investors
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Reply by a searcher
from Duke University in Chicago, IL, USA
I think there is a typical cycle for some investors that aligns with the MBA calendar. I've also heard that this is an unprecedented year in terms of the number of searchers raising. It makes sense that investors remain disciplined with their resources (capital, personnel, etc.) to avoid overextending themselves and diminishing their brand. That being said, there are still a lot of investors still allocating. A lot has to do with the specific pitch/focus and fit with the investor's mandate.
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