How to Pitch an LP Investor in Private Equity

How to pitch LP investors:

What is the best private equity pitch you’ve seen?

That’s the question I posed to various panels at SuperInvestor, the annual conference for private equity investors. This is not just about a great private equity investment deck. This is about having a powerful investor pitch.

Meet the Author: Benjamin Ball

Ben is the founder of Benjamin Ball Associates and leads the presentation coaching and pitch deck creation teams. Formerly a corporate financier in the City of London, for 20+ years he’s helped businesses win with better pitches and presentations, particularly investor pitches. He is a regular speaker and a guest lecturer at Columbia Business School and UCL London.  Follow Ben on LinkedIn or visit the contact page. 

I asked eight LPs to share with us a great private equity investor pitch they remember – teams that did something remarkable that grabbed their attention.  We wanted to learn some best practices how to pitch investors successfully.

On one panel were private equity investors Catherine Lewis La Torre, Anna Dayn, Spencer Miller and Marc der Kinderen. On the other panel were PE firms, fund managers Will Poole of Capria, Guarau Ahuja of ChrysCapital and Alexandre Alfonsi of Axonia Partners. Between them, these experts review 400+ private equity investor pitches every year and they’ve seen them all – the good, the great, the bad and the ugly.

By the way, of the 400 private equity fund pitches they see, they eventually invest in only 10.

Whether you are pitching to private equity investors, venture capitalists, or you are a private equity firm pitching to LPs, this best practise advice will help you be more successful.

Pitching to limited partners (LPs) in private equity is a critical step for any investment firm or venture capital fund looking to secure commitments. LPs, which can include pension funds, family offices, and institutional investors, assess opportunities based on a clear understanding of your business model, market opportunity, and growth potential. A successful pitch deck must be compelling, story-driven, and tailored to address the unique priorities of LP investors.

Pitching an LP investor is a real skill.  And it’s a skill you can improve.  Over the last 15 years we’ve coached hundreds of firms and PE funds to be brilliant at pitching private equity investors. 

Do please call us and we’ll discuss how we can help you with your private equity pitch deck and your private equity pitch.

How to pitch an LP investor in private equity – top tips

1. Stand out from the crowd in your private equity pitch
2. Be a very clear communicator
3. Research each LP (investor) you meet
4. Show how your team delivers extra returns
5. Listen more than you talk when you pitch investors
6. Create an investor pitch and executive summary that is different
7. Tailor your investor pitch deck and pitch to each investor
8. Demonstrate your passion
9. Show, don’t just tell

Private Equity Fundraising Tip #1 – Stand out from the crowd

LPs see hundreds of private equity pitch decks for each one they invest in. Your first challenge is to rise above everyone else who is competing for attention, so you become the 1% that they remember and talk about. In short, it’s all about seeing things from the LP investor’s point of view.

By keeping your LP at the centre of everything you say and do, you’ll stand out in his or her mind as being more engaging, memorable and investor-ready. If key elements of your investment strategy are distinctive, you’ll give yourself competitive advantages. A great test is to analyse whether your executive summary is strong enough.

How To Pitch an LP Investor Tip #2 – Communicate Clearly

Do you have a compelling private equity fund pitch deck? or are your marketing materials too complicated? They may make sense to you, but if they are hard for an LP to understand then you’re unlikely to secure investment.

Successful private equity funds have clear, concise and consistent communications. This includes your executive summary, your private equity pitch deck and everything you say. For example, consider your messages about your fund, your marketing materials (including your Private Equity Pitch Deck) and your follow-up communications: they should all be as easy to read and understand as a newspaper.

A complete deck should tell the story of your fund’s strategy, focusing on elements that matter most to LPs. Include a concise pitch deck outline covering the business model, market size, competitive analysis, and examples of past investments if applicable.

LPs often review dozens of opportunities, so your pitch must stand out with clarity and precision. Highlight network effects, economies of scale, and other factors that illustrate the potential for long-term value creation. Use the best pitch deck examples as inspiration to balance visuals with substantive content.

Potential investors will quickly see what makes your fund different. Then you can have a proper discussion with that investor to determine whether your value proposition is a good idea and if it fits their investment needs.

Why Pick Benjamin Ball Associates for Your Investor Pitch Coaching

At Benjamin Ball Associates, we’ve been coaching business people to improve their business communication skills for over 15 years.  Our coaching is fast and effective.  We work with individuals and with companies, one-to-one and in groups.  Call us today to learn more.

“I honestly thought it was the most valuable 3 hours I’ve spent with anyone in a long time.”

Mick May, CEO, Blue Sky

Our most popular training courses include:

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Speak to Louise on +44 20 7018 0922 or email info@benjaminball.com to transform your speeches, pitches and presentations.

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Private equity fundraising Tip | 3. Research each LP

One of the repeating themes from the LPs at SuperReturn was that trust is built during communication outside of fundraising periods.

You need to research your LPs, track their investment mandates and learn about their investment goals. For example, some will only invest in established PE firms. Some will favour early stage venture funds. Some will not touch venture capitalists or angel investing. You want to understand their track record and speak to the right LPs.

Keep talking to them. Then, when you’re fundraising, you can tailor your pitch to the LPs you’re targeting.

Private equity fundraising Tip | 4. Show how your team delivers returns

Every fund forecasts promising returns. Top funds demonstrate what their team members do differently to drive above-average performance.

What are your team member’s background? Why does that give your fund a unique advantage? How does your investment strategy differ? What key metrics do you track?

It’s not enough to have a blue-chip experienced team: you need to link your team’s experience to those great returns you’re forecasting.

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Private equity fundraising tip | 5. Listen more than you talk

Lastly, are your fundraising pitches one-way broadcasts or two-way conversations?

Top funds listen to LPs, aiming to understand, not just respond. They ask follow-up questions to check their understanding and have high levels of emotional intelligence. They detect verbal and non-verbal cues to pick up what is and what isn’t being said.

LPs expect transparency and thoroughness. Be ready to discuss a wide range of topics, from your fund’s track record to the granular details of your investments. A data room containing financial models, due diligence findings, and detailed plans for managing LP capital is a must. Proactively address concerns around governance, returns, and alignment of interests. Strong preparation can set the tone for a productive relationship. And prepare your due diligence meetings thoroughly.

Lastly, top PE funds handle tough investor questions without becoming defensive.

How to pitch an investor | 6. Create a pitch that’s different

Anna Dayn recalled a pitch last year at SuperInvestor’s famous Quick Fire Showcase, where funds have just 90-seconds to pitch to a room of LPs. She told us about a pitch she heard in the form of a rap routine. Within 90-seconds, his rap managed to fit in all the fund highlights in a creative and memorable fashion.

What can you do to make your pitch memorable? A Rap routine may not be right for you, but can you make your investment story, your investor pitch deck and how to approach the investor meeting stand out? Standard ppt slides will not win investment. When we work with funds and with companies, we aim to create unique, compelling investment presentations that stand out from the crowd.

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How to pitch an investor tip | 7. Tailor your pitch to each investor

Spencer Miller reminded us how important it is to customise your pitch for each organisation you speak to.  “Know who you’re meeting,” he said. “Have an idea of what they are interested in.” You won’t always be guided by the LP. So focusing your pitch on exactly what the investor wants “makes it much more useful, and helps build the relationship.”

Different LPs have different priorities. A family office, for example, may focus on wealth preservation and long-term returns, while institutional investors often look for scalability and diversification. Research your audience carefully, adapting your pitch to align with their goals and risk tolerance. Personalising your pitch is as important as crafting the content itself.

Securing commitments from LPs demands a balance of strategy, storytelling, and robust analysis. A well-prepared pitch is your chance to show why your fund is uniquely positioned to capitalise on growth opportunities and deliver superior returns.

How do you do this? Research is important. And the questions you ask in the meeting with the private equity investor are key. When role playing private equity pitch meetings with our clients, we make sure the investor will come away feeling good about the meeting.

How to pitch an investor tip | 8. Demonstrate passion

“It’s fair to say that we see a lot of things that look more or less the same,” said Catherine Lewis La Torre.

“One that did stand out for me was a German GP. When they went through their portfolio they got products out and started talking about them. They were so animated and passionate that they really conveyed how much they knew about the businesses and how they would be generating value. They just loved that business. And that came across.”

How can you demonstrate more passion?

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How to pitch an LP investor | 9. Show, don’t just tell

“It gets us excited when we can get closer to the companies,” said Marc der Kinderen. “We once had a team came in who brought one of their CEOs. He happened to be in NY, and they let him speak to us. He explained how they got started, what they were doing, how the PE firm helped, how often they spoke. That made it come alive.”

How can you show how great you are and how your investment strategy will succeed?

Professional support to increase your chance of success

At Benjamin Ball Associates, we help you improve your private equity fund investor presentations.  You benefit from our knowledge of private equity investing and get investor pitch coaching, private equity pitch deck polishing and intensive role-play.  We support pitches and presentations of both funds and portfolio companies, maximising your chances of securing investment.

To improve your pitch to investors, call Louise Angus, Client Services Director on +44 20 7018 0922 or email info@benjaminball.com.

We’ll transform your private equity fund pitch so it’s confident, memorable and effective.

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What are the investor pitching mistakes most commonly made?

I also asked the fundraising panel which investor pitching mistakes they regularly see.

Learn from these mistakes to learn best practises how to pitch an investor and increase your chance of securing investment.

Four investor pitching mistakes to avoid

Private equity pitching mistake 1: Defensive or aggressive responses

The job of investors is to ask questions and be critical. Investors need to be sure they have accurate information so they can come to a good decision. Yet, rather than responding politely, Marc der Kinderen often finds that the fund manager takes things personally.

He said, “We are looking for people we can team up with for a decade. The moment we find people who are aggressive and defensive about their history – if we can’t ask questions – then due diligence stops.”

How to pitch an investor mistake 2: Deferring answers to later on in the presentation

Although you may have prepared a standard pitch, remember that every investor is different. Refusing to tailor your pitch or answer a question straight away shows an attitude of indifference towards your audience. Catherine Lewis La Torre said, “I find it frustrating when I ask a question and the fund manager says, ‘I’m coming to that, it’s on page 20 of the presentation’. Often the question never gets addressed.”

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Private equity pitching mistake 3: Lack of team dynamic

If the members of a pitching team contradict, interrupt or ignore each other, you put the stability and strength of the team in doubt. Spencer Miller said, “It’s my number one test: how do they interact with each other? Is it a partnership, or is it individuals?”

Investor pitching mistake 4: Lack of respect for the investors’ time

Showing up late or rescheduling at the last minute gives an impression of disorganisation as well as a lack of respect for the Limited Partner. Anna Dayn said, “Some managers have an incorrect assumption that we have limitless time for them.”

Learn how to create a great equity story for your pitch.

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Professional support to give you the best chance of success

Benjamin Ball Associates can help you avoid these and many other common mistakes. Let us help you learn best how to pitch an investor and prepare you for investor presentations. We can polish your private equity pitch deck or your pitch to venture capital firms, and we can help you role-play investor meetings.

We  support the pitches and presentations of both funds and portfolio companies, maximising your chances of securing investment. This is more than creating successful pitch decks. This is about creating a pitch that investors will love.

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If you want to improve how you pitch an investor call Louise on +44 20 7018 0922 or email info@benjaminball.com.

We’ll help you your pitch confident, memorable and effective.

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For 15+ years we’ve been the trusted choice for leading businesses and executives throughout the UK, Europe and the Middle East. We’ll help you improve corporate presentations through presentation coaching, public speaking training and expert advice on pitching to investors.

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Speak to Louise on +44 20 7018 0922 or email info@benjaminball.com to transform your speeches, pitches and presentations.

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Video: How Private Equity Funds can pitch, present and persuade more effectively

Paul Farrow is a Partner at Benjamin Ball Associates. In this video from SuperReturn US East, Paul discusses the common mistakes made by Private Equity funds when communicating with potential investors.  He reveals the unexpected personality trait that investors look for in fund managers, and why LPs don’t want to ‘be taken through your compelling pitch deck’.  He shares essential advice that will improve your fund’s messaging, help you make a good impression and impress prospective investors.

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