The necessity of good administration

You've managed to close the new fund, albeit with more investors than planned and with the most complex set of fund documents yet. You're ready to get out there and start doing deals, and the last thing on your mind is how you're going to administer the fund and who in the office is going to look after this. But you've got a group of increasingly inquisitive investors waiting to hear from you: regularly, substantively and in a way that evidences your commitment to good LP relations. It's time to get serious about fund administration.