Raising Capital In Every Environment

TL;DR

Steve Massiello from Compass International Advisors shares his insights on raising over $40 billion in capital and navigating the challenges posed by COVID-19.

Transcript

foreign thank you for joining us this interview today right now is with Steve massiello from Compass International advisors we're really excited to have him here uh he has an incredible track record has raised over 40 billion dollars in capital uh and he's going to share some of those insights with us today into how he's done that in his career and... Read More

Key Insights

• 🤨 Compass International Advisors has raised over $40 billion in capital by working with prestigious firms and influential industry figures.
• 😉 The firm primarily focuses on new clients for capital raising assignments, using their track record and reputation to win mandates.
• 🥺 COVID-19 led to a shift towards more direct deals and virtual meetings, and the firm anticipates that this new way of doing business will continue even after the pandemic.
• 💪 Technology, healthcare, and certain pockets of manufacturing were considered strong asset classes during the pandemic.
• 😤 The team at Compass International Advisors emphasizes the importance of establishing work habits and gaining experience at a reputable firm before embarking on independent ventures.
• 👶 Being surrounded by a strong team of experienced professionals is crucial for successfully onboarding new clients and winning new mandates.
• 😮 The firm avoids seeking press coverage and focuses on reputation and word-of-mouth recommendations.

Questions & Answers

Q: How did you raise over $40 billion in capital throughout your career?

Steve attributes his success to his experience in capital raising, both in traditional and alternative markets. He has worked with various funds and individual companies, partnering with prestigious firms and influential industry figures.

Q: What percentage of the capital raised in the past decade came from new clients versus existing ones?

While Compass International Advisors has established long-standing relationships with clients, Steve mentions that most of their recent assignments are for new funds. This suggests that a significant portion of the capital raised in the past decade came from new clients.

Q: What differentiates Compass International Advisors in winning new mandates and clients?

Compass International Advisors' success in winning new mandates is rooted in their team's experience, expertise, and seniority. They have been able to overcome objections, showcase their educational backgrounds, and build a reputation for achieving higher success rates.

Q: How does Compass International Advisors select placement agents for partnerships?

The firm is selective in choosing placement agents to work with, focusing on the quality of the general partners (GPs) they represent. They analyze market demands, receive feedback from clients, and conduct outreach when seeking specific asset classes.

Summary & Key Takeaways

• Steve has raised over $40 billion in capital throughout his career, working with various funds and individual companies.

• Compass International Advisors has a team of nine internally and works with partners around the globe to cover all geographic areas and marketplaces.

• The COVID-19 pandemic has led to changes in the way they operate, with a shift towards more direct deals and virtual meetings.