b'Key TakeawayThere is an Easier SolutionIf you want to have your investors invest in someone elses deal; a simpler option is to become part of their asset management team and have yourinvestorsinvestdirectlyintheiroffering.Thisiscommonly,but incorrectlycalledaco-GPasmostofferingsuselimitedliability companies, which dont have GPs, they have managers. The correct term for this is co-manager.Thismodelallowsyoutoraisecapitalundertheissuerssecurities exemption, as you are part of the issuers asset management team, and are thus entitled to the issuer exemption. This model also means there is far less risk that your company will be charged with acting as an investment company or that you are acting as an investment adviser. This model doesnt require you to create your own securities offering, keeping your legal fees down. To deter other co-managers from harvesting your investors for future dealsthatdontincludeyou,youcanuseanon-disclosureandnon-circumventagreement.Additionally,certaininvestormanagement platforms offer a way for co-managers (or co-GPs) to segregate investor contactinformationandcommunications,isolatingthemfrom communication by anyone in asset management other than the members of the co-manager who referred them to the offering, and the main sponsor of the issuerwho is required to have the information.How you get compensated as a co-manager is another, separate topic of discussion.Pleaseseethein-depthdiscussionofHowtoLegally Compensate Capital Raisers and Finders in Chapter 26.147'