Correcting the Record: Yes, Women Want to Form Their Own Private Equity Firms

On July 22, Winston & Strawn Partners Eva Davis and Meg Frey hosted the first in an informative new webinar series in which women GPs provided insights and lessons learned in launching their own private equity firms. During the panels, LPs provided their criteria for making an investment in a first-time fund. Panelists included Jeri Harman, Founder & Chairman, Avante Capital Partners; Sheryl Meija, Co-Founder & Partner, Steward Asset Management; Michelle Noon, Co-Founder & Managing Partner, Clearhaven Partners; and Scottie Wardell, Co-Founder & Managing Partner, Integrity Growth Partners.

This series was sparked by a Forbes article that claimed women do not want to form their own PE firms because of the gender pay gap. Eva read and responded to the article in a LinkedIn post and wanted to discuss the topic further with other women who are currently involved with PE funds and those who are interested in forming one of their own. 

GP Topics:

• Preparation/research done before fund raise
• Developing a portable track record
• Formulating and messaging the investment strategy
• Building the right team and back office
• Transitioning from deal leader to firm leader
• Fundraising steps taken
• Fundraising obstacles and lessons learned

LP Topics:

• Fund I's value in an allocator's portfolio
• Importance of track record
• Demonstrating business building competence
• To agent or not to agent
• Importance of hitting key institutional terms
• What attributes make an initial fundraise easier
• Understanding the various types of investors and their Fund I appetite

Watch the presentation here.