Pacenote Equity

Investment decisions are led by the three Managing Partners: Casey Peters, Matthew Evans, and Sam Cannon. The six-person team operates with full consensus, as the firm only works on mandates when every team member has enough conviction to invest personal capital alongside LPs.

Pacenote emphasizes proactive, relationship-driven origination rather than relying on inbound deal flow. Casey Peters' background as Head of Investment Sourcing at a roughly $10 billion Outsourced Chief Investment Officer provides a principal-investor lens, targeting managers well before they appear on institutional radars.

Pacenote operates as a specialized capital-raising platform, not a traditional fund-of-funds or a placement agent. It structures early primary fund commitments and pre-Fund I deals, acting as an extension of its LPs' programs to identify and seed managers at the earliest stage of their institutional lifecycle.

The firm explicitly targets managers 'well in advance of Fund I,' characterizing itself as 'purposefully early.' This means Pacenote structures commitments during a manager's pre-institutional phase, often before any formal fundraising process or track record exists.

Pacenote does not publish a negative sector list. Its public materials reference a focus on private equity buyout strategies broadly, but no specific industry exclusions are disclosed.

Yes. The firm states that all Principals invest personal capital in every opportunity they take to market. This personal co-investment is part of the firm's alignment structure, meant to ensure only their 'absolute highest conviction partners' are presented to LPs.

Pacenote's structural difference is its intentionally lean, consensus-driven model. Each mandate requires full team conviction and personal capital from every Principal. Combined with its pre-Fund I entry point and Peters' OCIO sourcing background, this creates a boutique alignment mechanism distinct from larger platforms that pool broad LP commitments into blind-pool structures.