Hey, does anyone familiar with independent sponsor model? Just spoke with someone from an independent sponsor world, and he said that they create investment teasers in a word document, not in a powerpoint format, and keep it to 2 pages max (before signing NDA).
I have not seen word documents since 2016. He said that I am not up to date with what is happening in the market...
Are we turning back to having Teasers, CIMs and IC materials in word documents??? I thought they were too wordy and a pain to create... or did he simply get offended that I implied that he is too old
Who gives a fuck?
Unfortunately I do
Very common
Why? Isn’t it easier to have all in a PowerPoint doc? I remember creating teasers / CIMs in a word doc when I was an intern back in 2016. But it was a pain. And everything was so wordy…
Word docs never left for teasers….
I’ve seen many decks from independent sponsors and 90% of memos and teasers are ppt but some people still do word docs for some reason
I wouldn't say it's the norm but word docs are much easier to create than PPTs. Same content but no need to worry about design, format, etc.
Especially for the size of deals that independent sponsors are looking at - content wins over format / presentation. If the thesis / overview is communicated concisely, it will do a lot of heavy lifting. A slick formatted teaser is nice, but it's not usually the tipping point.
Also a lot of LMM capital providers have their internal memos in word not PPT.
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