May 23-24, 2023 | New York City
Still going strong after 20 years, Consortium has cemented its role as a critical part of the emerging and diverse asset manager universe, and it continues to be the blueprint for providing access and exposure to up-and-coming talent. This year, over 700 attendees came together to celebrate Consortium’s 20th anniversary in New York.
By uniting with the long-standing Small and Emerging Manager Conference, Consortium 2023 not only sold out quickly, it combined the energy and scope of a large-scale event with the intimacy of a one-on-one meeting.
Learn more about Consortium’s 20-year history by watching the video found here.
Serious Investors and Serious Talent
Some of the largest and most influential allocators to emerging and diverse managers spoke about building a program:
- The starting point for any program is to build the most inclusive, highest performing portfolio.
- Typically, LPs share three goals (in no particular order):
- Drive alpha of their investments
- Develop a portfolio of rising managers
- Enhance diversity in the industry
- Building a program is a talent acquisition mission, and investors must be proactive.
- Emerging manager programs exist to create a “wedge” for next-generation managers who face many hurdles in fundraising.
GPs heard from successful managers who shared some lessons learned.
- This can be a thrilling ride, but raising capital is hard – gaining access is often the biggest challenge.
- What about scaling? It’s about more than launching a first fund – creating wealth together will come by increasing scale.
- Teams are important, and not just who makes up the team, but how they work together, and working together better than anyone can be a differentiator.
More New Attendees & Higher Engagement
By the Numbers
Some of the largest allocators:
50 organizations of over $1 billion invested with small and emerging managers.
A diverse group: 230+ representatives from a range of allocators
No Data Found
Experience and expertise among GPs:
350+ representatives from emerging and diverse firms
Next-generation momentum: 57% of managers reported being on initial fundraising or their first fund
Emerging talent: 69% of managers reported AUM/fund size of less than $500 million
A diverse group – among GPs who self-reported:
No Data Found
Through the LP Intensive, many LPs and Consultants walked away from Consortium with an updated to-do list, including:
- Assume the talent is out there – by looking for the best talent, you’ll find it.
- Have an inclusive team – a homogeneous team can provide average results.
- Use data to set program goals and measure against them every year.
- Push managers on diversity and survey them regularly.
- Help managers grow their toolkit and expose them to others who can help.
Meanwhile, the GP Bootcamp and “The Perfect Pitch” sessions used real-time coaching sessions, panel discussions, and small-group roundtables to provide managers with the tools they need. Among the recommendations:
- Be consistent with your values and those of your investors.
- Surround yourself with those who’ve done it before.
- Get involved in organizations, use available resources, and come to Consortium every year.
- Start now – relationships can take a long time to build.
- Be specific in your pitch deck.
¹ Sources include Preqin, Burgiss, HFR, NAIC, and GCM Grosvenor data.
Past performance is not indicative of future results. No assurance can be given that any investment will achieve its objectives or avoid losses.