It is now no longer uncommon that as a condition to approving the transfer of a limited partner ("LP") interest in a private fund, the general partner ("GP") of such fund may seek a stapled primary commitment to its newest...more
The Institutional Limited Partners Association (ILPA) released considerations for both limited partners (LPs) and general partners (GPs) in respect of continuation fund transactions, including GP-led secondaries, in May 2023....more
GP-led Fund Restructurings have become an increasingly important part of the private equity secondaries market, accounting for 40% of 2018's US$70 billion secondaries activity according to ILPA....more