What is the process from raising capital on a deal by deal basis to starting a blind fund?

I work for a smallish firm ($1B-$2B AUM), and we work with a lot of bigger LP's as the operator of our assets. We have been fine for the most part, but raising capital as we continue to expand (did $600M in deals last year) is tiring and slow. Since we are very lean, we don't have inhouse compliance or IR, how do you typically see firms go from a deal-by-deal equity raise to raising funds with commitments for multiple deals? 

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