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Dry Powder: The Private Equity Podcast

"All Over Your GP, All the Time"

What’s your zone of competence? Inquiring LPs would like to know, according to Hamilton Lane’s Jim Strang.

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"All Over Your GP, All the Time"
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On the previous episode of Dry Powder, Jim Strang, managing director at Hamilton Lane, sized up the private equity industry’s growth prospects, macro shocks notwithstanding.

“The question for me is not as much, ‘Will it grow,’” Jim told me. “It’s ‘What will the growth look like?’”

But more money chasing more deals could alter the relationships between GPs and LPs. In an age of rampant digital disruption, LPs increasingly want to know how GPs will ensure their deals don’t become bleeding edge tech.

“You have to be basically all over your GP, all over their portfolio, all the time,” Jim explained to me in part two of his interview for Dry Powder.

“Are [GPs] sticking to a sort of playbook and within their zone of competence? Or are they reaching outside of it? And if they deviate from that for whatever reason, then that’s sort of an instant, ‘Oh, why did that happen?’”

Those are just a few of the tough questions that Jim and I consider on today’s episode, as we discuss the evolving relationships between GPs and LPs and question whether the age-old funding model itself might be ripe for disruption.

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The Private Equity Podcast

In our new podcast series, Bain's Hugh MacArthur interviews leading experts on the trends and opportunities that will redefine the private equity industry.

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