News & Analysis as of

Limited Partnerships Private Equity

Katten Muchin Rosenman LLP

ILPA Publishes Guidance on NAV Financing in Private Equity Strategies

The Institutional Limited Partners Association (ILPA) recently issued guidance (Guidance) for limited partners (LPs) and general partners (GPs) on the use of net asset value (NAV)-based financing facilities in private equity...more

SEC Compliance Consultants, Inc. (SEC³)

Latest SEC Document Request Lists: What Private Fund Managers Should be Worrying About

Many private fund managers are breathing a sigh of relief after the Fifth Circuit struck down the Private Fund Rules (check out our blog post for more information). Do not, however, assume the SEC will stop its aggressive...more

Seyfarth Shaw LLP

Updated Guidance on NAV-Based Facilities for Private Equity Strategies

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Net Asset Value (NAV)-based financing facilities (“NAV Facilities”) continue to proliferate in private equity. In response, the Institutional Limited Partners Association (ILPA) released comprehensive new guidance making the...more

Cadwalader, Wickersham & Taft LLP

Reliable Expectations May 2024 - Investors, We're Relying on You

Delaware remains the most popular jurisdiction for the domestic formation of private equity and venture capital funds (a “Fund”) as either a limited partnership or limited liability company.  In fact, 54.8% of the deals...more

Skadden, Arps, Slate, Meagher & Flom LLP

Bank of England Highlights Concerns With Private Equity Financing

The Bank of England’s Financial Policy Committee (FPC) and the Prudential Regulation Authority (PRA) recently delivered a series of speeches1 raising their concerns about the evolution of private equity financing and the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Continuation Funds: What You Need To Know

Over the last 10 years, continuation funds have evolved to be a well-established potential exit route for private fund sponsors. According to advisory estimates, some $40 billion deals were completed in 2023, with more than...more

Proskauer Rose LLP

Approaching Secondaries Financing from All Angles: Key Considerations for Debt in LP-Led and GP-Led Secondary Transactions

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Debt finance plays a key role in all parts of the capital structure for private investment funds and their investors.  In particular, the use of debt finance is an increasingly important component of secondary transactions,...more

Stikeman Elliott LLP

Ten LPs + 85 Investors Over Four Years = Unlicensed Trading Allegation from the OSC

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One of the grey areas for real estate development, private equity and venture capital firms (“sponsors”) that serially launch new funds is how frequently a sponsor can come to market with a new fund offering without hitting...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Capital Ratio: Roundup of Upcoming UK Regulatory Reforms for Financial Institutions

UK regulators have recently announced a number of reforms for banks and other financial institutions. - On 23 November 2023, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) (together,...more

Katten Muchin Rosenman LLP

A New Era for Continuation Fund Transactions: ILPA Issues New Guidance

Challenging economic conditions have made it even more attractive for certain General Partners (GPs) to seek to maintain existing assets owned by fund vehicles. Continuation funds offer GPs a mechanism for doing this by...more

Hogan Lovells

ILPA releases considerations for continuation fund transactions

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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

Latham & Watkins LLP

Innovation Required to Address Three Emerging GP Led Secondary Transaction Themes

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GP-led secondary deals — where a sponsor initiates the sale of portfolio companies from a fund it manages to a new fund it also manages — were a prominent feature of the private equity landscape in 2022, encouraged by...more

Cadwalader, Wickersham & Taft LLP

On the Side February 2023 | Issue No. 209 - Irish Investment Limited Partnerships – Updates on the Revamped Regime and Comparison...

We are often asked by clients and non-Irish law firms in the context of fund finance transactions about using fund structures established under the revamped Irish Investment Limited Partnership (“ILP”) regime, and, in...more

Benesch

Real Estate Joint Ventures Involving Private Equity Funds: Regulatory, Structuring, and Practical Considerations

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The real estate joint venture (JV) is an investment vehicle that marries investment or development competence on one hand with capital on the other to invest in a real estate platform. The investment or development competence...more

Troutman Pepper

Private Equity Roundtable Discussion with Hamilton Lane - Getting the Band Together: Club Deals & Co-Investment Fundraising Are on...

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As the PE dealmaking environment heated up in the past decade, limited partners (LPs) have sought to gain even more exposure to the asset class. Simultaneously, general partners (GPs) at PE firms have begun to band together...more

Troutman Pepper

Private Equity Roundtable Discussion with Hamilton Lane - Getting the Band Together: Club Deals & Co-Investment Fundraising Are on...

Troutman Pepper on

As the PE dealmaking environment heated up in the past decade, limited partners (LPs) have sought to gain even more exposure to the asset class. Simultaneously, general partners (GPs) at PE firms have begun to band together...more

Troutman Pepper

PE Roundtable Discussion With Hamilton Lane - Getting the Band Together: Club Deals and Co-Investment Fundraising Are on the Rise...

Troutman Pepper on

As the PE dealmaking environment heated up in the past decade, limited partners (LPs) have sought to gain even more exposure to the asset class. Simultaneously, general partners (GPs) at PE firms have begun to band together...more

Troutman Pepper

The Co-Investment Landscape Review: Breaking Down Key Trends Shaping Co-investment Activity

Troutman Pepper on

As private equity (PE) dealmaking heated up in the past decade, limited partners (LPs) sought to gain even more exposure to the asset class. Simultaneously, general partners (GPs) at PE firms began to band together more than...more

Goodwin

Private Equity Coalition Advances Convergence on ESG Data

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Global flows of private capital into sustainable investment strategies continued to gain momentum in 2021. Over 3,826 investor signatories committed to the UN Principles for Responsible Investment in 2021, equating to a 65%...more

Latham & Watkins LLP

ESG Toolkit Expands for European PE

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Green shoots emerge as PE firms consider new ways to incorporate ESG into dealmaking. Market sentiment and the increasing importance of environmental, social, and governance (ESG) to firms’ competitiveness across the...more

Jones Day

Dutch Limited Partnerships Attractive Alternative to Luxembourg and Irish Fund Structuring

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Proposed changes to Dutch tax law will make Dutch limited partnerships attractive private equity and venture capital fund and feeder fund alternatives to Irish and Luxembourg equivalents. A Dutch limited partnership...more

Vinson & Elkins LLP

6 Ideas For Innovating Private Equity Fund Terms

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Aligning the interests of General Partners (GPs) and Limited Partners (LPs) is an essential component of successful private equity funds. Efficient fund terms help GPs and LPs focus on achieving common goals and maximizing...more

McDermott Will & Emery

[Webinar] How Traditional Energy Funds are Shifting Towards Green Energy: A Conversation with EnCap Investments and Quantum Energy...

The energy market has undergone significant change in the past 12 months, with even more on the horizon. Join us for a webinar series as we explore how these changes have shaped—and will continue to impact—the energy...more

Bracewell LLP

Super Tax Exempt Limited Partners in Private Equity Funds: Impact on Solar Projects

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Private equity and venture funds have been critical partners of the solar industry in recent years. Fund managers and the limited partners in their funds have sought broad exposure to solar assets—both utility scale and...more

Hogan Lovells

Subscription line fraud and its impact on private equity

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Those involved in the private equity industry will have seen the recent reports of an alleged fraud on a U.S. bank by a Florida-based private equity fund manager, the accusation being that subscription agreements with LPs, as...more

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