Touchstone screens potential GPs against several criteria for their likely appeal to institutional LPs. We know how LPs assess potential alternative asset managers, their investment strategies, performance, investment portfolio and due-diligence, and we embed these criteria in our own determinations of whether to represent a GP. Emerging managers in particular must meet more stringent institutional investor criteria. We are sensitive to the reality that LPs are inundated with hundreds of fund proposals a year – their time is at a premium. Our materials are designed to convey key decision-enabling information clearly and succinctly. Each individual LP makes its own decision whether to commit to a particular fund, but they know that any GP represented by Touchstone will at least meet the minimum criteria for serious consideration. If the LP has interest in considering funds with this strategy, number of roman numerals, and fund size, and the materials we convey will enable them to efficiently make a decision on how to proceed.