Any institutional investors interested in Wisconsin market?

[Chris Gantz]

I’m a private asset manager for a small number of clients right now and am looking to expand into a GP role to create a fund that will attract larger institutional and/or higher net worth investors.

I own and operate all management services and invest mainly in large residential complexes and storage. We have some commercial and hospitality, and are open to other asset classes, but specialize mainly in residential.

The Midwest market is highly desirable and there are plenty of great on and off market deals.

I’d be grateful for any advice and guidance from anyone that has experience building private equity funds. What steps should I take and what pitfalls should I avoid.

[Luke Miller]

@Chris Gantz one challenge that you might run into is integrating your investments with your property management company. You might see that as an advantage, but some investors might see that as a potential conflict. For example, your properties aren't performing as well as you hoped, would you fire yourself as a management company and let another 3rd party take over? 

Obviously some institutional owners also manage their own assets (AIMCO for example), but like @Greg Dickerson said they have a track record. AUM does not equate to assets owned and I would be hesitant to invest with someone trying to run two large (syndication fund and management company), time intensive businesses, at once.