After much anticipation from the private funds market, earlier this week on June 5, 2024, the U.S. Court of Appeals for the Fifth Circuit (the Court) reached a decision in respect of the litigation challenging the Private...more
The Securities and Exchange Commission (the SEC) adopted new and somewhat controversial rules and rule amendments (the Final Rules) under the U.S. Investment Advisers Act of 1940 (the Act) in the fall of 2023 that impact the...more
The Institutional Limited Partner Association (ILPA) published new guidance on May 15, 2023, relating to continuation funds. The guidelines build on ILPA's prior (2019) guidance on best practices for GP-led secondary fund...more
A Tool for Portfolio Management -
While the secondaries market has traditionally provided opportunities for limited partners to exit from private equity funds, there has been an increase in General Partner (GP)-led...more
On October 30, 2019, shortly after publishing the latest version of its principles (Principles 3.0), the Institutional Limited Partners Association (ILPA) released the ILPA Model Limited Partnership Agreement (Model LPA), a...more
The Institutional Limited Partners Association (ILPA) recently released the latest version of its principles, ILPA Principles 3.0. The updated principles provide a detailed selection of best practices for participants in the...more
9/17/2019
/ Best Practices ,
Canada ,
Environmental Social & Governance (ESG) ,
Fiduciary Duty ,
Fund Sponsors ,
General Partnerships ,
Institutional Investors ,
Institutional Limited Partners Association (ILPA) ,
Limited Partnerships ,
Private Equity ,
Private Funds ,
Transparency
Private equity and alternate lenders often take a basket of rights when investing in an entity. The basket may include equity, options, warrants and/or debt. In the case of debt financing, lenders often negotiate equity...more
2/5/2019
/ Ancillary Agreements ,
Commercial Loans ,
Convertible Debt ,
Criminal Code ,
Debt Financing ,
Equity Financing ,
Interest Rates ,
Lenders ,
Private Equity ,
Shareholders ,
Startups ,
Warrants