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Jon Gray_Blackstone
In the firm’s Q2 earnings call, Jonathan Gray pointed out where in private markets he thinks investment from defined contribution benefit plans will be directed to first.
Four lawyers – including three secondaries experts from Dentons, Debevoise & Plimpton and Kirkland & Ellis – discuss GP-led secondaries, ESG and the latest developments shaping private equity.
Future 40
The limited partner body’s guidance on GP-led fund restructurings is designed to create an industry standard for the execution of these deals. How effective has it been in practice?
delay
An overhang of LPs wanting to sell stakes in funds could delay transfers in order to conform with publicly traded partnership rules.
tax
Sponsors considering running secondaries processes on their funds should be aware of potential pitfalls that can hit carried interest and scupper deals.
Investment allocation
Higher fees and difficulty in agreeing on side letters with secondaries funds were among the reasons given.
Exclamation mark symbol on blue brick wall, warning, caution
Law firm Stephenson Harwood's Gabriel Boghossian and Sarah de Ste Croix outline three points of contention and practical steps to ensure effective LPAC operations.
overseas
Raising capital in multiple jurisdictions can bring challenges, warns one operating chief.
gavel
The New York attorney-general has filed a lawsuit against Allen, who runs a secondaries fund and a secondaries intermediary business, for allegedly misappropriating more than $13m.
tax light bulb
Four lawyers from Paul Hastings describe the implications of IRS regulations that affect secondaries market participants.
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