New Business Development for investment managers is Tessera Capital's core business.
We have extensive experience representing a wide variety of investment managers across the full spectrum of investing styles, strategies and vehicles.
Tessera maintains relationships with a small group of manager clients at any give time. This selectivity allows us to more effectively manage every stage of the investment management marketing and sales process for our manager clients. To mitigate any conflicts of interests, Relationship Managers are not permitted to work with conflicting strategies.
This policy ensures no dilution of our marketing efforts while we remain highly responsive to our manager clients.
New business development tasks include:
- Awareness campaigns (typically an ongoing process lasting the span of the relationship)
- Product positioning and asset management marketing messaging
- Information requests
- Financial intermediary relations
- Direct sales
- Meetings and conference calls
- On-site due diligence meetings
- Finals presentations
- Contact and fee negotiations
- Servicing of clients brought in by our team
The Tessera Process
Our process is time-tested, with value that has been clearly and consistently demonstrated for a diverse client base across a wide range of economic and market conditions.
Please note: time frames may vary
A. Firm and Product Evaluation
- Hold “On‐Site Kick‐Off Meeting” to gain a thorough understanding of the firm's people, products, and approach
- Conduct Peer group review to evaluate the firm's competitive market position
- Comprehensive review and revision of marketing materials, industry database strategy, and existing RFP / DDQ responses to ensure a consistent message
- Review and critique all existing investment committee presentations and related materials
B. Product Branding and Awareness
Activities typically include:
- Conversations with key contacts
- Positioning articles in trade publications
- Write and disseminate press releases and other publicity
- Compose and distribute white papers through relevant marketing channels
- Informational updates
- Quarterly reviews
C. Comprehensive New Business Development Effort
Tessera’s investment management sales process is strategic, focused, and multi-staged, requiring consistent collaboration with each manager-client.
Appointing an on-call senior investment professional is the preferred strategy.
Our investment management sales services include:
- Reaching out to financial intermediaries
- Tactical use of direct sales to institutional investors
- Uncover search activity and investment opportunities
- Maintain on-going communications, as regularly scheduled follow-ups are of paramount importance
- Progress reporting which details:
- Industry acceptance of the client’s strategies
- Research approval status for the firm’s products
- Current search activity
- Competitive comparisons
- Changes in industry trends
D. Manage the Search Process
Here, the marketing effort is moving towards new mandates. Activities include:
- Confirm with financial intermediaries and prospective investors that our manager-client meets all requirements
- Ensure all RFPs and other requested materials are submitted on time and are accurate
- Coordinate and participate in all presentations
- Assist with the negotiation of contract terms and fees
- Provide feedback as to the reasons why our manager-client won, did not win, or was excluded from consideration for a specific mandate
Once hired by a client, Tessera will work with the investment manager's internal staff to service the new client. Responsibilities include:
- Keep investors and their gatekeepers up‐to‐date with current information pertaining to the organization, its professionals and its products
- Stay abreast of issues facing the client and its intermediary
- Foster communications between the manager's employees and the client
- Attend portfolio and annual review meetings with portfolio managers
- Ensure investors receive all agreed-upon reports and information in a timely manner