Sponsor Dilligence
LP investing in JV RE deals. A potential GP has told us our standard questionnaire is too much and that they have never had to fill it out. It’s a one pager that asks about references, track record and firm history. Nothing near an ILPA or standard DDQ.
Sponsor claims to have had major institutional money behind them in the past. Curious to hear if anyone has come across this situation before and how they have handled.
What type of asset class is this? Whats your equity check your willing to put in? Some GPs tend to get annoyed if they have to fill out a lot of information for what could be a small equity check.
Just as a general comment, if someone is sketchy during due diligence, runs, don’t walk.
50k or 50M?
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