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Preqin Alternatives Investment Consultant Review
2011

  • Publication Date:November 2010
  • Publisher:Preqin
  • Product Type: Report
  • Pages:260

Preqin Alternatives Investment Consultant Review 2011

With comprehensive profiles for over 300 investment consultants for institutional investors in alternative assets, the 2011 Review is the ultimate guide to this vital area of the market. Also contains analysis, client information, league tables and more...

A good source of intelligence on the alternatives investment consultant industry is a vital tool in helping fund managers and marketers build relationships with these important custodians of institutional investor capital. It is also an important consideration for consultants seeking to maintain an accurate overview of the market, and for investors utilising and considering the services of consultants.

The 2011 Preqin Investment Consultants Review is the ultimate guide to this important sector within the alternatives sphere, containing profiles for 300 different investment consultancy firms. Consultant profiles within the Review contain information on the types of services offered, asset classes covered, key financial information, direct contact information for relevant contacts and perhaps most importantly, details showing which consultants are being retained by 1,300 institutional investors from around the world.

Key content includes:

  • Vital analysis on all aspects of the alternatives investment consultant universe. Includes key trends plus information on the market’s make-up.
  • Specific intelligence on activity in private equity, real estate, hedge funds and infrastructure included in all analysis and profiles.
  • Comprehensive profiles for over 300 investment consultants.
  • Profiles include key individual contact information, areas of speciality, plans for 2011 and beyond, financial information, service coverage etc.
  • Details for 2,400 sample clients. See who is advising whom for each area of alternatives.
  • See which firms operate a buy-list, which firms consider first-time managers, and what they look for when considering new opportunities.
  • Results of our in-depth survey showing investor satisfaction with their consultants and other key information.
  • League tables.

Executive Summary

As we move towards the end of 2010, a number of new trends are emerging within the various strands of the alternatives industry. While conditions are starting to improve in a number of different ways, it is clear that a return to the status quo of recent years is extremely unlikely, with the approach institutional investors take towards alternatives having undergone a radical and possibly permanent shift. Investors’ experiences of the downturn have altered the way that they review existing and potential new alternative investment manager relationships, with their consultants playing a vital role in this new dynamic.

The Fundraising Trail
Similar patterns have been seen across all the various areas of the alternatives landscape with regards to managers’ ability to raise new capital for their vehicles. Following the onset of the global economic downturn, private equity, real estate and infrastructure funds all saw a decline in new fundraising, while the hedge fund industry was hit with redemptions. In more recent months excellent performance from hedge funds has reignited institutional enthusiasm, and while the closed-end fund market has been slower to improve in terms of fund performance or new fundraising, there are some encouraging signs to be seen, with some high profi le closings and slowly improving overall fundraising statistics.

A Change in Approach

  • While the latest statistics are certainly encouraging from an overall industry perspective, they are less useful and illuminating for those managers already out there on the road and those considering when to launch their next fundraising bid. Managers that successfully raised capital back in 2005 – 2008 will fi nd that investor attitudes have changed considerably, with the new market dynamics requiring a considerably different approach to investor relations and fundraising. Preqin maintains a dialogue with over 6,000 institutional investors around the world. Clearly each investor has its own individual principles and approach towards investments in alternatives, but there have been some clear, discernable industry trends that have emerged over the course of the past year:
  • Reduction in the number of manager relationships: Across all the various asset classes there has been a trend of reducing the number of relationships maintained.
  • Increased attention to due diligence: Past performance and the proven viability of proposed strategies in the current market are being given special attention as part of an overall increase in due diligence processes. Terms and conditions are also receiving increased focus as investors look to take advantage of the increased power they now wield in such discussions.
  • Automatic re-ups a thing of the past: The increased attention to due diligence is being applied not only to new opportunities, but also to existing relationships. Effective investor relations is more essential than ever in ensuring a high investor retention rate.

What Are the Implications?

  • The change in approach being taken by institutional investors has some clear implications that must be heeded by all institutional investment managers actively seeking to maintain and increase their investor base.
  • Some managers will go out of business: Investors are more unforgiving than ever before, and whether it be through redemptions or an inability of funds on the road to achieve a fi nal close, some consolidation within the alternatives industry is a certainty.
  • Fundraising and investor relations require more attention: With more scrutiny being paid towards existing relationships and new opportunities, fundraising and IR will become a full-time function for managers, requiring increased consideration and resource.
  • Opportunities for the best prepared managers are excellent: The fl ip-side to the shift in attitudes is that managers able to effectively communicate appealing strategies, with proven performance and a focused approach towards interacting withnew and existing investors, are already enjoying success and will continue to do so.

Where Do Investment Consultants Fit In? In the newly emerging alternatives landscape, maintaining effective communications with investment consultants represents a more vital consideration than ever before for all those involved in fund marketing and investor relations.

1. Executive Summary

2. Data Sources

3. Review of Alternatives Investment Consultants
- Analysis on the nature of services, type of alternative assets advised, age of fi rm, number of clients, fi rm location and number of staff.

4. Review of Investor Use of Investment Consultants
- Analysis on the use of alternatives investment consultants by investors in alternative assets. Breakdown of investor use by investor location, investor type, investments in specifi c alternative asset classes and by size of alternative investment program.

5. Investor Survey
- In-depth analysis of the level of satisfaction with consultancy services of over 100 investors, on allocation advice, customer service, value for money, fund selection, market predictions, due diligence and access to top-tier funds.

6. Investment Consultants for 25 Prominent Institutional Investors in Alternatives
- Overview of consultants used by the top 25 investors.

7. Listings of Investors Showing Investment Consultants Used

8. Investment Consultant League Table
- Overview of the 25 largest consultants by assets under advisement.

9. Investment Consultant Attributes Directory
- Overview of consultants including age of fi rm, location of fi rm, assets under advisement, alternative assets under advisement, number of staff, nature of service, location of clients and asset classes advised on.

10. Profi les for Alternatives Investment Consultants
- Detailed profi les for 341 investment consultants. This includes asset classes advised on, nature of services, sample clients and contact information.

11. Index
- Alternatives investment consultants alphabetical
- Figure Index.

12. Other Publications 

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