Fundraising prospects for a new manager

I have a BB ER background and I've been approached by a former IBD sector head to join him in trying to launch a fund. He led many flagship deals before retiring from the bank a couple years ago.

Since then, he has made a few investments through a family office with one exit in the works. In general, he provides growth equity to sub-scale suppliers/brands, helping them secure large orders. He mitigates risk by leveraging top-level relationships in industry who help vet these companies and open doors. He also thinks that several high net worth contacts would support his fund. 

Does an outfit like this have hope of attracting enough investment to run as a viable management company? Would placement agents ever get involved?

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