The case for an LP presence in Asia
Time zones are a thorn in the side of LPs seeking to be more than just passive capital providers and participate more fully in GP relationships. The reality for the North American contingent that still meets the bulk of Asian managers’ capital needs is they are separated from their investments by the Pacific Ocean (plus much of a continental land mass in some cases) and a time difference of up to 15 hours.
Exercising one's fiduciary duties can therefore be a challenge, which is why many pension funds delegate responsibilities to intermediaries such as advisers and fund-of-funds. There might only be a handful...
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