The Distribution by Juniper Square Special Series: Lower Middle Market Alpha with Tom Hall - Managing Founding Partner of GL Capital Partners - Finding Alpha Through Focus
Mar 7, 2025
Tom Hall, Founding Managing Partner of GL Capital Partners, brings over 20 years of multifamily industry experience and a knack for finding alpha through focus. He dives into the evolution of GL Capital Partners, highlighting the lessons learned during the 2008 crisis, the shift to ultra-high-net-worth clients, and the unique demands of investor relations. Tom also discusses the importance of vertical integration in enhancing property management and debunks misconceptions about non-institutional investors, showcasing their competitive edge.
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Fund 1 Challenges
- Tom Hall's first fund, a $25 million venture, was the hardest thing he's ever done, taking 2.5 years to raise.
- Starting mid-2008 and closing in 2011, it involved small checks from many individuals during a tight capital market.
Personal Touch with Investors
- Unlike large firms, Tom Hall emphasizes personal relationships with investors, understanding their families and wealth transfer issues.
- This personal approach allows for tailored strategies and deeper understanding of investor needs.
Tax Concerns
- Understand individual investors' tax concerns, especially regarding post-tax returns.
- Simplify tax structures with solutions like private REITs to avoid multi-state filings for LPs.