Emerging managers: how are you thinking about conflict of interest between Fund 1 and 2?

Emerging managers should be cautious about conflicts of interest between Fund 1 and Fund 2. It's common to deploy and raise funds simultaneously, but this can be tricky. Managers must disclose potential conflicts to limited partners, possibly using a limited partner advisory committee to clear conflicts. Full transparency and careful management of fiduciary duties are essential to maintain trust and avoid skepticism from limited partners. Consulting with a fund formation specialist attorney can also help navigate these challenges.