HoldCo Builders

How to Raise $450 Million at 31 with No Track Record (and Do 90+ Deals) | Urs Wietlisbach Research

Sep 30, 2025
Explore the ambitious journey of raising $450 million for a private equity fund without any prior track record. Discover the importance of having complementary founder strengths and the lessons learned from costly fundraising mistakes, like hiring a disappearing rainmaker. Urs emphasizes a long-term focus on partnerships, especially with pensioners, and shares insights on thematic research that drives their investment strategies. Learn how innovative hiring practices and proactive due diligence set them apart in a competitive market.
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ANECDOTE

Quitting Goldman To Build Something New

  • Urs and his co-founders left Goldman Sachs despite high pay and family pushback to start Partners Group.
  • Urs invested $200,000 and agreed to join as equal partner 18 months later to secure the venture.
ADVICE

Fill Your Backpack Before Leaving

  • Fill your backpack by learning aggressively while at large firms so you can leave with skills and courage.
  • Be curious, ask questions, and avoid getting comfortable to prepare for entrepreneurship.
ANECDOTE

The Upfront Rainmaker That Vanished

  • They paid a rainmaker 120,000 CHF up front and the man disappeared, a costly early mistake.
  • The team learned to never pay upfront for fundraising promises again and became much more cautious.
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