A practical guide to negotiating private fund terms and creating GP/LP alignment
PEI’s fully updated second edition of The LPA Anatomised features insights and views of leading lawyers and industry experts on how GP/LP alignment is created. Edited by Nigel van Zyl and Edward Lee of top law firm Proskauer, the book also explores how the long-term relationship between LPs and GPs is fostered though the LPA; and how recent regulation and litigation are influencing LPA terms.
This is a must-have guide for anyone making decisions or advising on fund terms, or involved in drafting and negotiating LPAs.
Insights and views on:
- LPA terms from A to Z and how to negotiate them effectively
- The role of litigation and regulation in the evolution of private fund partnership agreements
- How to handle a challenging LPA negotiation successfully
- Comparisons of US, European and Asian LPAs
- How to successfully structure and negotiate separately managed accounts
- Issues to consider prior to discussing fund terms revisions with LPs; plus much more
Who should buy this book:
- General Partners
- Limited Partners
- Placement Agents
- Lawyers
- Fund Administrators
- Accountants
- Tax Advisers
- Nigel van Zyl and Edward Lee, Proskauer
- Adam Turtle, Rede Partners LLP and Emma Cleveland, Cleveland & Co
- Luba Nikulina, Willis Towers Watson
- David Tegeler, Proskauer
- Lynn Chan, Proskauer
- Robin A. Painter, Proskauer
- Matthew McBride, Proskauer
- Stephanie W. Berdik, Proskauer
- Chris Hayes, Institutional Limited Partners Association
- Tarek Mardini and Amos Veith, P+P Pollath + Partners
- Timothy W. Mungovan, Proskauer
- Joshua Newville, Proskauer
- Michael Suppappola, Proskauer
- John Verwey, Proskauer
- Alan Ross, Aztec Group
- Stephen Sims and Greg Norman, Skadden, Arps, Slate,
Meagher & Flom (UK) LLP
- Ed Hall, Goodwin
- Howard Beber, Proskauer
- Scott Jones, Proskauer
- Andrew Shore, Proskauer
- Malcolm B. Nicholls, Proskauer
- Kate Simpson, Proskauer
- David Jones, Proskauer
- Matthew Huggett, Nick Williams and Dominic von Wulffen,
Allen & Overy LLP
- Catherine Sear, Proskauer
- Mary Kuusisto, Proskauer
- Marguerite Lombardo, Proskauer
- Ira G. Bogner, Proskauer
- Adam W. Scoll, Proskauer
About the editors
About Proskauer
Introduction
By Nigel van Zyl and Edward Lee, Proskauer
SECTION 1: Fundamental issues and trends in term negotiation
1 Aligning GP and LP interests in the LPA: New cycle, new challenges
2 Rewarding true value creation in private equity: implications for LPA economic terms
3 LPAs: A regional comparison 23
4 Case study. Facilitating consensus: How to handle a challenging LPA negotiation
5 Structuring and negotiating separately managed accounts
6 ILPA’s LPA simplification initiative
7 The ILPA influence
8 Renegotiating LPA terms
9 The role of litigation and regulation in the evolution of private
10 The realities of the LPA
SECTION 2: The LPA terms deconstructed
11 Structure and composition terms of the limited partnership
12 Fund mechanics: Operation and management terms
13 Economic provisions
15 Investor protection provisions
16 The Advisory Committee
17 Exculpation and indemnification provisions
18 Tax-related provisions of the LPA
19 Key provisions for ERISA investors
20 The subscription agreement
Conclusion
About PEI
