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Abstract: 

The current private equity fundraising market has been described as a “challenging environment,” but as the authors of this article discuss, there are a number of ways for fund managers to evaluate their fundraising process and terms to keep a competitive edge. They begin their discussion with the need to adjust strategies to stay competitive. They then turn to terms in fund governing documents: the offering period; management fees; organizational expenses and the cap; co-investment; and borrowings. They conclude with the SEC’s proposed series of sweeping mandates that would significantly impact the management, compliance, and reporting requirements for private funds and their GPs.

Keywords: Private Equity Sponsors (“GPs”); Limited Partner Investors (“LPs”); Fund Document Terms; Offering Periods

Affiliations:  1: Paul, Weiss, Rifkind, Wharton & Garrison LLP; 2: Paul, Weiss; 3: Paul, Weiss.