For allocators

    Your clients keep asking for local. You need it underwritten.

    LCM runs sourcing, financial modeling, memo, and committee review, then hands you a documented file. You keep the client relationship and the allocation decision.

    Opportunities reviewed
    70
    Cumulative to date
    Received investment
    20
    Reported through completed rounds
    Capital committed
    $12M
    Across those opportunities
    Grant leverage
    63×
    Committed capital per grant dollar
    Wallet share

    A small sleeve, a large relationship signal

    Local allocation is rarely the biggest line in a book. It is often the reason a client stays.

    Where a local sleeve sits

    Illustrative on a $50M book

    Total client assetsTotal client assets: 50$50MLocal sleeve at 3%Local sleeve at 3%: 1.5$1.5M

    Illustrative arithmetic, not a projection or a recommended allocation.

    What allocators say blocks local

    Recurring objections raised in pilot conversations

    No sourcingNo sourcing: 99No diligenceNo diligence: 88Reporting gapReporting gap: 66Ticket too smallTicket too small: 44

    Qualitative counts from pilot conversations. Not a survey.

    Division of labor

    Who owns which stage

    LCM carries the file to clearance. You own the allocation conversation.

    01
    02
    03
    04
    05
    06
    07
    08
    09
    Stages 01–06 · LCM07–08 · You + your client09 · Shared

    Stages 01–09 of the Keystone process. Capital movement happens off-platform between the parties.

    What arrives

    The file you receive

    Per opportunity

    Delivered inside the data room

    Investment memoYes
    Financial model + scenarios3 cases
    Diligence scorecardRubric-scored
    Open items logTracked
    Committee decision recordDated

    Ongoing

    After a client commits

    Quarterly borrower updateFormatted
    Overdue-report flaggingAutomatic
    Client review exportPDF
    Impact + place reportingIncluded
    Cost to your firm$0
    Comparison

    Build it, use a pooled vehicle, or use LCM

    CapabilityIn-house deskPooled vehicleLCM
    Local sourcingYou buildManagerIncluded
    UnderwritingYou staffManagerIncluded
    Deal-by-deal discretionYesNoYes
    Client-level reportingYou buildFund-levelIncluded
    Named place exposureYesBlendedYes

    Comparison of operating models, not of investment performance.

    Process

    The nine-stage record

    07 · In the Pattern

    Published to the slate and matched to investor and allocator mandates. Verified investors access the data room and submit indications of interest.

    PROCESS NOTE Eight opportunities in the pattern. Three cleared this week.
    Three investors reviewing. None have committed.
    Owner
    Investors + allocators
    Artifact
    Published listing + IOIs
    Visible to
    Investors

    Keystone reports process state. It does not give investment, legal, or tax advice.

    Request allocator accessSee the slate

    Local Capital Markets is not a broker-dealer, investment adviser, or fund. Nothing here is investment, legal, or tax advice.