Pension fund, Fairview team up to aid new alts managers
Miriam Rivera said mentors helped her convert a family office into an institutional firm.
Los Angeles Fire & Police Pensions on Nov. 17 joined private equity emerging manager program manager Fairview Capital Partners for their inaugural "Investing in Inclusion" event to give new managers tips on building a firm and navigating the fundraising process.
One of the main messages is it isn't easy, it requires a hefty dose of the entrepreneurial spirit and the backing of family, friends and mentors to make it through at least 18 months without an income. And aspiring private equity general partners have to be really good at being told "no," according to the speakers who included Fairview executives, LAFPP officials and emerging managers involved in the pension fund's program.