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Ts & Cs

Thinking about secondaries when drafting an LPA

The fundamental building block of the LP-GP relationship is changing, and secondaries is one of the factors driving that change. Three lawyers discuss end-of-life terms and control over stake sales in this extract from a roundtable in sister publication pfm.

Renegotiating the LPA: extensions

Proskauer's Nigel van Zyl discusses investment period and fund term extensions, in this extract from The LPA Anatomised.

Renegotiating the LPA: basics

Proskauer's Nigel van Zyl explains the key commercial, legal and investor relationship issues GPs need to consider before amending the agreement's provisions or restructure funds.

Balancing the needs of investors and managers

Plans to simplify the limited partnership agreement are ambitious, lawyers say.

Global LPs most concerned about regulation and deployment in 2018

Half of the global investors surveyed by Augentius expect market conditions to worsen this year compared with 2017.

The muddy waters of performance calculation

The private funds industry is institutionalising, but the methods for calculating and reporting performance are still all over the place.

Five things you didn’t know about Landmark’s latest PE secondaries fund

The fund has a 14-year life and 60% of the GP commitment will be put forward by the firm's parent.

Legal terms scupper LPAC institutionalisation

Limited partners are acting to preserve their individual interests and make clear they do not represent the LPs collectively in a fund, a conference has heard.

SEC to ratchet up scrutiny of fees and expenses

The agency will start spending less time on new financial regulations, according to its chairman, Jay Clayton.

GP-LP relationship ‘challenged’ by transparency demands

Two reports conclude transparency requirements are affecting the GP-LP dynamic and can be difficult to achieve.

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