Home Bookstore PE Hub Reports & Directories 2018-2019 Private Equity/Venture Capital Partnership Agreements Study

2018-2019 Private Equity/Venture Capital Partnership Agreements Study

US$ 2,497.00

Key Information

  • ISBN: N/A
  • Publication Date: December 2017
  • Number of Pages: 87

The PE/VC Partnership Agreements Study is based on detailed surveys taken by GPs and LPs and includes analysis of what’s market for terms and conditions in five categories for seven sample groups, analysis of co-investment deal terms, limits placed on the use of capital call loans and more.

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Negotiate the most favorable partnership terms & conditions with the benchmarking data found exclusively in the PE/VC Partnership Agreements Study.

PE Hub has undertaken one of the largest studies ever of U.S. and European private equity limited partnerships. The report covers every hot-button area of today’s partnership negotiations, from management fees to key-person provisions, from distribution waterfalls to GP claw-backs. Data is presented in dozens of easy-to-absorb charts organized by fund type and includes:

Analysis of what’s market for terms and conditions organized in five categories:

  • Fund formation and operation
  • Fees and expenses
  • Distributions and profit sharing
  • Performance and returns
  • Corporate governance

The results are broken down for seven sample groups:

  • North American Venture
  • North American Buyout
  • International Venture
  • International Buyout
  • Funds of Funds/Secondary Funds
  • Mezzanine/Infrastructure
  • Private Equity Real Estate

New in the 2018-2019 study:

  1. Analysis of co-investment deal terms and conditions
  2. A look at limits placed on the capital call loans
  3. A view into how quickly fund managers are adopting ILPA reporting templates and standards

Product is fulfilled in digital and print format.

Who should buy this book:

  • Chief Financial Officers
  • Chief Operating Officers
  • Managing Partners
  • Directors of Investor Relations
  • In-house Counsel for U.S. and European PE firms
  • Managers of Funds of Funds
  • Investment Officers
  • Advisors and Consultants to Institutional Investors
  • Placement Agents
  • Fund attorneys

PE Hub enlisted an all-star advisory board, including the executive director of the Institutional Limited Partners Association, to review our findings and predict where they think individual terms and conditions are heading.

- David M. Toll, Executive Editor, Buyouts Insider
- Paul Centopani, Research Editor, Buyouts Insider

Advisory Board:
- Christian Albert, Managing Partner, Bowside Capital
- Maurice Gordon, Managing Director and Head of PE, Guardian Life Insurance Co.
- Kari Harris, Partner, Nixon Peabody LLP
- Bradley S. Mandel, Partner, Winston & Strawn LLP
- Scott VanHoy, Managing Director, Leeds Equity Partners

Guide to Tables and Charts
i. Description of Sample and Methodology
- Sample Composition
- Firm Size
- Composition of International Sample
- Breakdown by Fund Size
ii. Fund Formation and Operation
- Fund Term and Investment Period
- Approvals Required For Extensions
- Recycling Provisions
- Limits on Recycling Provisions
- Bridge Financings
- Limits on Bridge Financings
- Fundraising Timing
- Co-investment Rights
- Cherry-picking Investments
- LP Co-investment Rights
- Unrelated Business Taxable Income
- Capital Calls and Default Penalties
- Side Letters/Most Favored Nation
- GP Contribution
- How GP Contribution is Funded
- GP Contribution 2018
- Investment Restrictions
- Fund Leverage
- Friends and Family Funds
iii. Fees and Expenses
- Management Fees
- How Fees are Structured
- Budgeted Fees
- Tiered Fees
- Management Fees by Fund Size
- Scale-downs and Scale-ups
- Management Fees 2018-2019
- Transaction Fee Offsets
- Transaction Fee Offsets 2018-2019
- Expenses
- Organizational Expenses
- SEC Registration & Compliance
- Deal Sourcing and Monitoring
- Broken-deal
- Co-investors’ Share of Broken Deal Expenses
- Advisory Board
- Annual Meetings
- Travel
- Outside Consultants
- Reverse Break-up Fees
- Placement Agents
- How Shared Expenses Get Allocated
iv. Distributions and Profit Sharing
- Carried Interest
- Performance-based
- Net of Fees and Expenses
- Changes to Carry Taxation
- Carried Interest 2018-2019
- Distribution Waterfall
- Deal by
- European Method
- Priority Return
- Catch-up Provision
- Net Asset Value Test
- Distribution Waterfall 2018-2019
- GP Clawback
- How Calculated
- Clawback Guarantee
- Escrow Accounts
- True-ups
- GP Clawback 2018-2019
- Distribution Methods
- Cash Distributions
- Freely Tradable Securities
- Sale of Securities for Cash
- Valuation of Freely Tradable Securities
- Dividends and Interest
- Short-term Investments
- Tax Liability Distributions
v. Performance and Returns
- Quarterly Reports
- Fair Value
- Confidentiality
- Disclosure
vi. Corporate Governance
- Advisory Board
- Number of LP Advisers
- Roles and Powers
- Indemnification
- Standard of Care
- LP Clawback
- Limits on LP Clawback
- Divorce Clauses
- For-cause Divorce Clause
- No-fault Divorce Clause
- No-fault Suspension
- Divorce Clauses 2018
- Key-person Provision
- Standard of Time Commitment
- Automatic Suspensions
- Extension of Suspension Period
- End of Suspension Period
- Actions Resulting from Trigger
- Key-person Provision 2018-2019
- ILPA Compliance
- Corporate Responsibility
Appendix A. Glossary
Appendix B. Examples of Scale-down Formulas


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