The client was Julian Robertson's Tiger Management and the assignment was challenging. Although Tiger's track record was outstanding, its investment style did not fit the traditional criteria for institutional investors. Tiger's use of leverage and short selling was then generally anathema to the conservatism of most institutional investors. This was an especially difficult period to raise capital from institutional investors for this asset class. Many institutional investors had dramatically reduced or eliminated their allocations to real estate.
Every fund raising assignment has challenges which are as difficult as they are unique.