In today’s market, where fundraising has become the industry’s main pressure point, it is the fund experts who are improvising and innovating to keep the show on the road.
We’re starting to see more and more variations on the standard closed-end blind pool fund, as GPs face up to the new reality of a world where 10-year commitments are much harder to come by. Some are switching to deal-by-deal or pledge-type structures instead – which can often be far more investor-friendly than the typical model.
Other LPs are looking to get a better deal via managed accounts or by increasing their co-investment activity.
Meanwhile the regulatory goalposts are moving constantly; tax hikes are in the offing; and there are still country-specific challenges to overcome, particularly in emerging markets.
Through a series of articles and expert commentaries, PEI’s exclusive supplement details exactly why there’s never been a more interesting – or more challenging – time to be a private equity funds lawyer.
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