The Economics of Dealing Outside the Fund

Devin O'Brien: "We're kind of all over it. We brought in not only the CEO, but his number two from his previous company to help on diligence" He says he was told by placement agents and other GPs that this is the deal that drives you into a first close. Now we had plenty of co-invest interests. Well actually people were like, let's do that deal outside the fund. That's where I think that's a deeper issue. And plus I had a broken foot. So it made it incredibly convenient to travel to the deal.