How to Identify Great Operators
Pascal Wagner talks with Lance Pederson about what years of fund administration taught him about operators, fund terms and dilution.
In this interview
Lance Pederson draws on years of running a fund administration firm to explain what an LP should look for in a sponsor. He describes how investors who join a fund late can dilute those who joined early, and the terms that guard against it. He explains why a sponsor’s readiness to share records, such as bank statements and property-level books, sits near the top of his list. He covers what changes when an operator moves from single deals to a fund, the questions to ask before joining one, and what makes an industrial building Class B.
Chapters
- Meet Lance Pederson
- From lending to fund administration
- Dilution in a fund with several closes
- How he judges a sponsor
- Moving from single deals to a fund
- Questions to ask before joining a fund
- Why he moved into industrial property
- Class B buildings, tenants and leases
The picture is YouTube’s poster for this episode. Published September 5, 2023 by Pascal Wagner, founder of DealStack. DealStack does not rate or recommend firms. Resonance Capital Group does not pay DealStack, so this page is not a paid placement.
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