Podcast - Credit Funds: How Managers Can Avoid and Mitigate ERISA Conflicts
The GP-led secondaries market is relatively new to Australia but recent transactions show the trend is here to stay. Continuation Funds avoid the need for forced exits from Funds and help provide liquidity. Yet since the GP...more
The landmark UK Secondary Capital Raising Review Report takes a holistic approach in making bold and comprehensive recommendations to improve the UK secondary capital raising processes and ecosystem. On 19 July 2022, HM...more
Following reports that record numbers of investors in private startups are exploring selling equity before an IPO or liquidity event, it’s important to remember that secondary sales often pose issues that are not present in a...more
With the turmoil facing public markets in recent months, it’s not a wonder that we have not seen a flood of IPO’s in the first quarter of 2022. With companies putting their IPO plans on hold, this means that employees looking...more
Kevin Gsell, Head of Legal Solutions & Partnerships at Nasdaq Private Markets, joined our annual session on late stage or pre-IPO private placements earlier this week. As discussed during our session, as companies choose to...more
In a paper titled “Cashing it In: Private-Company Exchanges and Employee Stock Sales Prior to IPO,” authors David F. Larcker, Brian Tayan, and Edward Watts review the practices of 34 tech and services-related companies as...more
Speaking at Stanford, Chair White addressed a broad range of issues affecting the technology sector, including the decision on the part of many privately held companies to defer their IPOs, to rely on exempt offerings to...more
The SEC is examining the use of derivatives in the secondary market for shares of private companies. The trading of shares of private companies remains robust, and we are writing this alert to remind everyone that whether you...more
We analyzed the terms of 156 venture financings closed in the first quarter of 2014 by companies headquartered in Silicon Valley. Overview of Fenwick & West Results - Valuation results in 1Q14 were very strong. ...more
Background-We analyzed the terms of venture financings for 118 companies headquartered in Silicon Valley that reported raising money in the first quarter of 2013....more