FREE. NO OBLIGATION
The Fund Governance
Health Check
A 45-minute conversation across six governance dimensions. You will leave knowing what a buyer’s governance counsel reads before your numbers, what your LPs can contractually require, and where the gaps are. No pitch. No follow-up unless you want one.
45
MINUTES
6
QUESTIONS
0
OBLIGATIONS
Who this is for: mid-market PE fund managers with roughly 100 million to 500 million dollars AUM, no dedicated governance or compliance team, and a fundraise, acquisition, or exit in the next 18 to 24 months. If you suspect your LP obligations, regulatory exposure, or portfolio monitoring have gaps you have not mapped, this conversation is for you.
1. LP OBLIGATIONS
When did you last read every side letter in your current fund? Can you tell me right now whether any of your LPs has a co-investment right that must be offered before your next exit?
Co-investment and exit notification rights sit in individual side letters. Most mid-market funds track them as separate documents, not as a live register. An MFN clause can turn one LP’s right into a fund-wide obligation without anyone deciding that.
2. REGULATORY EXPOSURE
Do any of your portfolio companies have operations, customers, or suppliers in Germany, the Netherlands, France, or any other EU country? And have any of those companies received data requests from their EU customers in the past 12 months asking for climate or supply chain information?
CSRD supply chain reach creates obligations for US portfolio companies through their European customer relationships, independent of any direct EU regulatory obligation on the company itself.
3. PORTFOLIO MONITORING
Can you give me a red, amber, green governance status for every portfolio company today without making a single phone call?
Governance deterioration is visible in operational signals months before it reaches the income statement. Most funds find out when it reaches the numbers, which is months too late.
4. DEAL INTELLIGENCE
Think about your last acquisition. When did the governance and regulatory workstream start — before the bid was submitted, or after?
FCPA successor liability, change-of-control consent requirements, and board governance gaps discovered post-close cost significantly more to manage than the same findings identified before the bid.
5. EXIT READINESS
For your most likely exit in the next 24 months — do you know today what your LP obligations at exit are, what a buyer’s governance counsel will find in week one of the data room, and whether your exit narrative is consistent with the evidence you can actually produce?
Findings a buyer discovers become price chips. The same findings identified 18 months early become managed preparation items with an owner and a deadline.
6. VALUE CREATION
What is your independent director situation at your primary exit candidate? When were they appointed, and how long before your anticipated exit process will they have been on the board?
Board composition data ties genuine, tenured independence to higher exit multiples in comparable transactions. A director appointed three months before a process is discounted by buyers as governance theatre.
The health check is the conversation most fund managers should have had before the process started.We offer it first so there is still time to act.