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Updated over 4 years ago,
What's more important? Experienced operator or strong deal?
What do you think?
Is an active operator with less experience, but a strong deal, a better investment than a more experienced, 'mehh' deal?
For example, if you are a passive investor with 100K liquid and are looking for potential investment vehciles what would you find more important?
A strong operator is of course important (and you should vet sponsors rigourously), but would you be more inclined to invest in a managing partner with let's say $50 million under management that underwrote a deal for 17%+ IRR (with the numbers to back it up)?