A sponsor buried a deal cancellation in silence, then casually offered a new one without explanation. Months of unclear emails and missing updates cost them an investor's trust and future business.
I had an issue with a sponsor several years ago. I was trying to get into the deal and it took several emails for him to respond. And so then finally was able to contact him and then I wanted to get some information about getting the documents and such. And that still took a few emails to try to get information about that. I kind of passed that off as, oh well, they're busy, I guess. And then I think it was a month or two later, there was an email all of a sudden that said, since we didn't go through with that deal, we're just wondering if you want to put your money into our next deal that's coming up. I thought, well, wait a second, I never got an email about the deal being canceled. So that was really frustrating to me, and that was just the last straw. So I said, if that's the way their communication is, then I don't want to invest with them, because if you don't have good communication with the GP, the general partner, that just makes things so much more frustrating.
