August 28, 2009
My firm is a FINRA regulated entity that works to raise funding for new fund groups just starting out.
We have a percentage success fee only, paid to us upon closing of a transaction. We need the public funds sector in order for these new emerging portfolio managers to have an opportunity to be discovered. Our only contact with the personnel of a public fund would be through their consulting firm, or at best limited contact with the public funds in-house investment staff.
The funds that we represent have no direct contact with potential investors, using us as their marketing and due dilligence filter.
Please do not simply erase our efforts to expedite and assist young fund managers in the search for capital.
Most of our clients have no ability to finance an in-house staff to market their funds, and by eliminating placement agents, you effectively shut out the litte guy.
Thank you,
Jay P. Calvert
Licensed securities placement agent