Shaping the Future of Emerging Managers: Nurturing Partnerships and Embracing Long-term Growth Strategies with William Prather of Cypress Creek

On this episode of Fund Flow from McGuireWoods, host Jon Finger sits down with William [Billy] Prather, founding partner and Chief Investment Officer of Cypress Creek Partners, to discuss market opportunities for emerging managers, what makes the Cypress Creek team successful, and building bridges with LPs. 

Billy had his first taste of the emerging market space at Blackrock and UTIMCO. These early experiences shaped his vision when founding Cypress Creek Partners. He intended it to be a firm focused on building long-term relationships.  

“Nobody has a crystal ball. Nobody knows that they're going to get to that ultimate vision. But having that shared vision directionally is important,” Billy says, describing one of the most important factors in choosing a partner. The other important quality in a partner is a clear willingness to listen and learn. After all, you can’t teach someone who already thinks they know everything.

Billy provides advice to GPs looking to fundraise in today’s environment. He likes to see partners who are on the same page and who have a shared agreement of what runway is acceptable. When vetting partners, it’s important to not lose sight of what matters — finding great LPs and great new investments. More experienced GPs can market themselves based on their current LPs and their rapport in the industry. 

During this episode, Billy shares his views on how Cypress Creek finds success, what he looks for in strong emerging managers, and trends he sees for upcoming partnerships. With a focus on the long-term, Billy also provides his outlook on the five to 10 year forecast for emerging managers, including increased expenses to run a firm and new opportunities for spin-outs. 

💡 Featured Guest 💡

Name: William [Billy] Prather

What he does: William is the Founding Partner & Chief Investment Officer at Cypress Creek Partners. He has over 15 years of investment experience across global private and public markets with over $4 billion invested. 

Organization: Cypress Creek Partners

Connect: LinkedIn

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