Can a PE fund ask what other firm you got an offer from?

To accelerate a process the HH asked if I have timing pressure from other funds, and I have something in the works that I'm expecting to materialize in the coming days. Can they ask specifically what firm it is/what type of role? 

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Firm B can (and probably will) ask anything they want about Opportunity A. You're not obligated to share obviously, though Firm B may press for details directly or via HHs. It's often to your advantage to accelerate process with B, though your call.

If Opportunity A is somehow weaker/lesser or not the same type of opportunity as B (based on your "type of role" comment), I wouldn't mention it as you'll risk getting your bluff called.

 

In my experience, the best answer to this question is to describe the competing fund at a high level -- fund size, industry, location, etc. -- explain that the fund you are speaking to is your first choice, if there is mutual interest, and that you would prefer not to disclose the name of the fund due to confidentiality. "Fund X asked that I keep the search confidential and I'd like to respect their request, the same way I am keeping the details of your search confidential." Some minority of the time you may still get pressed on the issue, at which point it is a judgement call.

 

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