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Advanced Issues in Private Funds is a brand-new program at PLI, created for attorneys in the private fund industry who are looking for a more in-depth review of complex legal issues across the liquidity spectrum. Private funds lawyers are not only in the business of executing plans devised by clients but also in the business of creating a fundraising strategy that is appropriate for the relative leverage of the sponsors. As such, this program will address the different dynamics at work around fundraising in addition to how to run a successful upper-tier private funds business through well thought out structures and tax considerations.
Given that co-investment vehicles have become a prominent feature that are utilized by managers and sought after by investors, there will be a discussion on the typical terms for liquid and illiquid strategies, as well as on the differences between the types of structures. Other topics of discussion throughout the program will include advanced issues inside letter strategy and execution, evergreen funds and illiquid assets, and what, in fact, are pledge funds and who are the likely sponsors and investors.
Hear from a faculty of experts from leading investment management firms and law firms about the most prevalent advanced issues in open- and closed-ended private funds today, and how to incorporate their tools and best practices into your practice to better serve your clients.
What You Will Learn
- Fundraising of both closed-ended and open-ended funds
- Tools that outside counsel can use to assist their clients in their fundraising efforts
- Common issues with managing fundraising in a closed-ended setting (for a limited period of time) when negotiating side letters
- What actually is a pledge fund?
- Typical terms for liquid and illiquid strategies
- How to deal with an inability to generate illiquidity for investors in times of distress
- Differences between market-to-market compensation system and how it relates to upper-tier structure (distribution waterfall)
- Brand new advanced program!