Limited partners in private equity real estate funds need to face up to the reality that they may need to replace their GPs in some funds if they are to protect their capital.
Managing director of real estate advisory firm Trilyn, Mark Antoncic, warned LPs not to be complacent in dealing with general partner sponsors severely hurt by the credit crisis, but to be “proactive” and not accept “spoon-fed answers at face value under any circumstances”.
