Capital Allocators – Inside the Institutional Investment Industry Meghan Reynolds – Art of Capital Formation (EP.438)
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Mar 31, 2025 Join Meghan Reynolds, Partner and Head of Capital Formation & Talent at Altimeter Capital, as she shares her insights from over twenty-five years in the investment industry. She delves into the art of building strong LP relationships, discussing the critical role of capital formation and the evolving landscape of private equity and venture capital. Meghan emphasizes the importance of effective communication, client prospecting, and storytelling in investor relations. She also addresses the challenges LPs face today in a post-pandemic market.
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Contrition Tour
- Meghan Reynolds joined TPG after the 2008 financial crisis when clients were unhappy.
- TPG had to apologize to investors and offer options for withdrawing or reducing commitments.
Fundraising for New Businesses
- Focus on tangible opportunities when building new businesses, not just team talent.
- Present actionable opportunities and explain their value proposition to investors.
Venture Capital Boom and Reckoning
- The venture capital boom in 2020-21 mirrored the pre-2008 private equity boom with excessive leverage and scaling.
- This led to inflated paper returns and overallocation, creating a reckoning for venture capital firms.