Investment committee dissent memos
Memos written by a committee member arguing against a proposed allocation, together with the committee's final decision. We want the reasoning that lost, not only the reasoning that won.
- Format
- Memos of 600 to 2,500 words, PDF or DOCX, with the committee's final decision attached
- Rate
- $140 to $220 per accepted file
- Window
- Opened 18 September 2026 · Closes 13 November 2026
- Attestation
- Required on every file
- Agreement
- Individual or firm agreement
The call
Investment committees at asset managers, endowments, foundations and family offices produce a document that almost never leaves the room: the dissent. A member argues against a manager selection, a private allocation, a concentration decision, and the committee proceeds anyway, or does not. Both outcomes are useful. The memo captures how an experienced allocator weighs liquidity, manager risk, fee drag and the mandate's objectives under real constraints.
We are acquiring these memos in de-identified form. Fund names, manager names, client names and dollar amounts above a stated band are replaced before review. The structure of the argument, the numbers as ratios, and the decision record stay intact.
What qualifies
- Memos written for a real committee decision between 2016 and 2026
- A stated recommendation, the reasoning, and the committee's recorded outcome
- Authored by the contributor, or contributed with the firm's written authority
What is excluded
- Template or training memos not tied to a real decision
- Memos that cannot be de-identified without removing the reasoning
- Documents under an active confidentiality dispute
De-identification
Replace fund, manager, client and counterparty names with role labels. Convert dollar figures above $5M to ranges. Keep dates to the quarter.
Review
Each memo is read by a former allocator who checks the reasoning is complete and the decision record is present. Memos that fail review are returned with a one-line reason and may be resubmitted once.
Rights
Full license transferred to Gridfile at acceptance. The contributor warrants that they hold the right to license the document and that de-identification has been carried out to the stated standard.
GF-0112 · Reviewed by a former investment committee chair