Oil & Gas: Built for Allocator Diligence
Positioning a differentiated energy fund for institutional capital.
Red Stone closed its target raise on its own timeline. A multi-basin, multi-operator non-op strategy needs a clear, grounded narrative that gives allocators a thesis they can underwrite.
See how the thesis, track record, and risk framework came together into the materials suite that supported the raise.
M&A: The Late-Stage Break
Last year, more deals than usual fell apart after signing. Why?
Pricing and financing had nothing to do with it. A new question is now surfacing in the final stretch of diligence, and the sellers who cannot answer it are watching buyers walk.
What do the deals that closed have in common?
They had the answer ready long before a buyer thought to ask.
Capital Raising: The Unwritten Rules
The allocator who shaped a generation handed his managers a book.
In 2000, David Swensen set out the rules Yale used to pick managers, run its committee, and train the people who would eventually lead the endowments at Princeton, Stanford, and MIT.
Swensen made his standard public. Almost no LP has done the same since.
The cost of that silence is showing up in this year's raises.
