A key long-term objective of many private equity and real estate firms is to build a large, diversified base of high quality investors. This can provide funding security over many years, irrespective of changes in investor sentiment and fund raising cycles. It can allow firms to grow, to plan for the future and to provide a valuable forum for investor insight and contribution beyond just capital.

Capstone has developed and refined a well structured, staged process to fundraising, enabling our clients to optimize fundraising effectiveness, timing and efficiency. Attention to detail, discipline and persistence are the key components in this process.

For each client offering, Capstone applies the same rigorous process:

  • Analysis of the firm’s current investor base
  • Evaluation of the optimal future investor base
  • Review of investor attributes and dynamics
  • Understanding of investor allocations
  • Recommendation of targeted investor groups
  • Identification of targeted individual investors
  • Deep fund due diligence based on best practice by potential investors
  • Staged marketing plan


Capstone will carry out a detailed and methodical analysis of a client firm’s competitive advantages in order to lay the foundations for a differentiated positioning which will be communicated consistently across all documentation. Capstone’s prior investment experience and marketing expertise is essential to this process.

Once these analyses are complete, the fundraising is executed in six phases, each with clear milestones:

Phase I Phase II Phase III Phase IV Phase V Phase VI
Structuring Positioning and documentation Pre-marketing Fundraising
phase I
phase II