Primer: Handling Senior Partner Departures in Private Equity and Venture Capital Firms
We are often asked what a private equity or venture capital firm should do when a founder, senior investment professional or other important partner leaves the firm. Sometimes the departure is orderly. A founder retires after a long transition. A senior partner moves into an advisory role. A partner steps […]
Primer: Planning for Senior Partner Transitions in Private Equity and Venture Capital Firms
We are often asked how private equity and venture capital firms should think about the retirement or transition of founders, senior investment professionals and other long-serving partners. Sometimes the question is asked directly. A founder is approaching retirement age. A senior partner wants to step back from full-time investment activity. […]
Primer: Reporting, Valuation and Information Rights in Private Equity and Venture Capital Funds
We are often asked what information private equity and venture capital (VC) funds are required to provide to investors. The answer is less about a single reporting checklist than about balancing transparency, confidentiality, valuation judgment and the manager’s ability to operate the fund. Private equity and venture capital funds are […]
Primer: Deploying Private Fund Capital Globally in Complex Regulatory Times
We are often asked how a private equity or venture capital fund should be structured if it expects to raise capital globally and invest across multiple countries. Historically, that question was often framed primarily as a tax, securities law, domicile or investor preference question. Should the fund be Delaware or […]
Primer: Structuring the General Partner and Management Company for a Private Equity or Venture Capital Fund
We are often asked by new and emerging managers about the fund itself: where to form it, what the management fee should be, how carried interest should work, what rights investors should receive, and what the partnership agreement should say. Those are important questions. But they are not the only […]
Primer: Carried Interest in Private Equity and Venture Capital Funds
We are often asked about the prevalent market options for structuring carried interest provisions in private equity and venture capital funds. In this post, we’ll speak of mainstream private equity and venture capital funds, so to speak. Terms differ in special situations, like co-investment funds, continuation funds, top-up funds, funds […]
Primer: Selecting the Domicile for Your Private Equity or Venture Capital Fund
We are often asked, by both new and established managers of private equity and venture capital funds, “Where should I form my next fund?” The answer is, in many cases, Delaware or the Cayman Islands. For managers seeking reputable institutional capital across the United States, Europe, Asia, Latin America, the […]
AI Policy for Fund Managers
Fund managers encounter AI tools everywhere, including in research workflows, communications, marketing, portfolio monitoring and compliance. If your firm uses AI in any meaningful way and doesn’t have a written policy, that gap may be showing up in due diligence questionnaires (DDQs), examinations or the firm’s own operations when something […]