E95: How to Raise Private Equity in 2024

Les Baquiran, Founder of Alpine Capital Advisors, sits down with David Weisburd to discuss insights on building LP relationships globally. In addition, they discuss reasons GP’s hire placement agents, benefits of family offices as LPs, and non-traditional structures LPs like to invest in. (0:00) Introduction to Les Baquiran and Alpine Capital Advisors (1:16) Les Baquiran's career journey and insights from Park Hill (3:26) Fundraising challenges and strategies in venture capital (6:22) Navigating relationships with LP consultants and Fund of Funds (7:56) Role and impact of placement agents in GP fundraising (10:05) Building GP relationships and visit frequency in Latin America (12:23) LP behaviors and the effect of regional differences (14:01) Family office capital: advantages and considerations (17:07) Exploring non-traditional investment structures and co-investments (19:13) Addressing current market challenges for LPs (21:22) Managing illiquidity and the denominator effect (22:00) Evaluating GP character and the importance of communication (23:34) VC valuation practices and LP responses to uncertainty (27:21) The art of building LP-GP relationships (33:25) The role of LP roundtables in fostering community (35:17) Advice for new managers and the value of passion in placement (39:09) The dynamics of operating a marketplace for LPs and GPs (40:25) Conclusion and closing thoughts