To assure our clients of a personalised approach and complete focus, Azione chooses to represent only six to eight non-competing mandates per annum that we believe will complement limited partner portfolios.
These clients can be based anywhere and have strategies as diverse as venture capital, growth capital, mezzanine, and other investment models.
Because Azione only represents a very limited number of clients, we are highly selective with whom we agree to work. We engage in a rigorous due diligence process of each potential client before accepting an engagement to serve as agent.
Our objective in performing this process is to ensure that we bring quality investment opportunities to market. It is broad, comprehensive, and focuses on questions we believe an LP might ask.
Representative areas we investigate before we take on a new mandate include:
- Is there a strong and experienced management team?
- Do the partners and senior managers complement each other’s skills and personalities?
- Will the team be cohesive for the life of the fund?
- Is there some quality of the team that attracts potential deals over others of similar strategy?
- What are the differentiated positioning and unique value proposition of the fund?
- What is special about the fund strategy and what do they do differently or better than their competitors?
- Has the team produced strong and consistent historical returns?
- Can every deal in the fund’s history be tied back to a current partner?
- Does the fund have a strong deal pipeline, and how does the team source deals?
- What is the process by which deals are evaluated?
- What is the process by which deals are negotiated and closed?
- How are the investments nurtured and harvested to achieve quality fund performance?