By Dan Primack
June 21, 2012

FORTUNE — Last October, we reported that Bill Farrell and Katita Palmer were stepping down as heads of research at Cogent Partners, a secondary markets investment bank, in order to form their own firm.

The new shop is called LP Analyst, and the official launch announcement is scheduled for early next week. Based in Dallas, it will provide non-discretionary consulting and analysis for limited partners in private equity funds. Stuff like due diligence, portfolio monitoring and portfolio evaluation solutions.

It’s obviously a crowded space, so it sounds like LP Analyst plans to compete on price. Rather than charging on AUM or long-term contracts, it will basically offer services a la carte. It also won’t manage custom accounts or other programs that could present conflicts of interest (a hot button issue in the PE consulting world).

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