AAllocator DeskDiligence Memory

All Templates

Template

Manager Meeting Notes Template

A consistent format for capturing what was said in a manager meeting and what to do about it.

What this template is for

Replaces freeform notes with a structured record that is comparable across meetings, attributable to a reviewer, and connected to the manager's coverage history.

When LP teams use it

  • Quarterly check-in meetings
  • Annual investor day notes
  • Ad hoc calls with the GP
  • On-site visits

The template

Meeting metadata

  • Date and meeting type (call, in-person, AGM, ad hoc)
  • GP attendees with roles
  • LP attendees and note-taker
  • Agenda or trigger for the meeting
  • Linked fund and prior meeting reference

What changed since last meeting

Start here so the rest of the notes are framed as deltas, not a fresh summary.

  • Changes to portfolio, team, or terms
  • Items the GP told us to expect last time - did they happen?
  • Items we owed the GP - status
  • New questions surfaced since last meeting

Portfolio update

  • Current portfolio summary discussed
  • New investments since last meeting
  • Exits and realizations
  • Material valuation changes and why

Team and firm

  • Hires and departures
  • Promotion or carry changes
  • Firm-level changes (ownership, products, succession)
  • Anything about culture or process that came up

Fund status

  • Pacing vs. plan
  • Capital called and remaining unfunded
  • Distributions since last update
  • Recycling and reserve commentary

Notable observations and signal

  • Anything that conflicts with prior statements
  • Anything that confirms a prior thesis
  • Off-script remarks or things the GP volunteered
  • Things they avoided answering
  • Body language or tone shifts worth noting

Phrases to flag

Statements that often sound routine but carry signal. Note any that came up verbatim.

  • "We are revisiting the strategy."
  • "We are expanding the platform."
  • "That partner is now focused on other things."
  • "We are taking a pause on new commitments."
  • "The market environment is different now."
  • "We are still finalizing the audit."
  • "It will be in the next quarterly."

Follow-ups

  • Items we owe the GP, with owner and date
  • Items the GP owes us, with expected date
  • Items to add to the next quarterly check-in
  • Anything to escalate to the IC or research team

Meeting outcome

Force a one-line read at the end. This is what makes the note useful three months later.

  • Overall read: positive / neutral / negative / mixed
  • Most important signal from this meeting
  • Most important concern raised or surfaced
  • Does this change our view on the manager?
  • Does this change our view on the next commitment?
  • Reviewer confidence in the read (1-5)

Common mistakes

  • Recording what was said but not what it meant
  • Failing to note things the GP did not answer
  • Letting the notes die in one person's email
  • Skipping the signal section because nothing 'big' happened
  • Not closing the loop on follow-ups
  • Treating each meeting as standalone instead of as a delta from the last one

How Allocator Desk manages this in a live system

  • Captures notes with structured fields, signal flag, and meeting outcome
  • Auto-links the meeting to the manager's coverage timeline and prior notes
  • Surfaces patterns across meetings (recurring concerns, recurring promises)
  • Routes follow-ups into the obligations and task system with owners and dates
  • Carries the meeting read forward into the next re-up or IC discussion