This isn't theoretical.
This is like 12 hours ago. Bloomberg just ran "Private Extermination," and it's s**t news for GPs planning to raise capital or close deals in the next 12-18 months.
Jamie Dimon flagged hidden defaults in private credit after Tricolor and First Brands collapsed. The feds are criminally investigating fraud at private credit borrowers.
Blue Owl merged two funds, effectively converting an open-ended fund into a closed-end vehicle while shares traded at a 20% discount to NAV. The move triggered investor backlash and potential investigations.
More than half of global fund managers now believe private credit is the most likely source of a major credit event. Confidence is collapsing.
Rates spike (8-9% instead of 6.5%). Terms tighten (strict debt caps, mandatory prepayment triggers, no dividends). Capital dries up ($50M debt raises get $35M instead).
Portfolio companies already financed with private credit face covenant stress. Meanwhile, LPs are spooked after Blue Owl proved "liquid" private assets can lock investors in with losses.
Most GPs have no idea. They see slow fundraising as "inconvenient".
They don't see the cascading damage to MOIC and IRR.
This diagnostic quantifies exactly how much money you're leaving on the table every month from capital formation problems. It calculates the MOIC and IRR damage caused by slow fundraising and deployment delays. Most GPs discover they're losing 8-15% of fund returns just from fundraising inefficiency. In a contracting market, that's the difference between a 1.5x and a 1.8x fund.
You can't fix what you don't measure. Run it. Get the real number.
Not all partners are equal. Some actually raise capital. Others just show up to meetings.
Use the GP Velocity diagnostic to to calculate, on a per-partner basis, exactly how much each True Partner (carry, control, commitment) is actually raising. You might think you have five rainmakers. What you find is one real fundraiser and four people cosplaying.
More importantly: It tells you what your True Partner velocity should be to hit your target. Raising a $250M fund with three True Partners? You need each pulling $83M. If one is pulling $30M, you've got a real problem—and you need to know it now, not at year-end when you're scrambling. This forces the partnership conversation you've been avoiding.
Stop guessing. Stop running outdated benchmarks.
Check See Where Your VC Fund Stands, our latest benchmark showing exactly where your fund ranks across VC, PE, growth equity, credit, infrastructure, and hedge. It's specific to your strategy, vintage year, and fund size. Are you raising at velocity or behind? Are you destroying LP confidence? This is the reality check that separates denial from action.
Private credit enabled a decade of aggressive PE growth. That era is over. The market is recognizing that much of that growth was built on reckless underwriting and cheap leverage.
The GPs who adapted yesterday will raise capital at reasonable economics. The ones adapting today will struggle. The ones still in denial? Damn, they're gonna get crushed.
The ones who measure their capital formation problems, understand their true fundraising power, and benchmark against reality will make the strategic decisions that save their funds.
Get your GPs into these diagnostics. Get them the data. Then help them act on it.