Raising a Fund With a Secret Sauce

Adeo Ressi discusses the importance of having a compelling reason for limited partners to invest in a fund, referring to this as the "secret sauce" or "yu". They state that if the thesis for investment is poor, only 1 in 10 partners may decide to invest. Considering a fund needs at least 50 limited partners to get started, having a weak thesis could jeopardize its viability. The number of current limited partners for the fund being discussed is reported as 30. #Shorts