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Terms & Conditions

What is the real meaning of transparency?

More expense provisions in LPAs come at the cost of clarity over what investors have to pay, says Jennifer Choi, managing director of industry affairs of the Institutional Limited Partners Association.

Taking GP-leds to the masses

The increasing acceptance of GP-led deals has opened up opportunities in the smaller end of the market, but unique challenges arise when dealing with smaller funds.

Silicon Valley Bank on Abraaj, evolving credit lines & HNWs

The lender’s head of global fund banking for EMEA tells PEI about the implications of the Abraaj Group saga, enhancements in underwriting, changing LP bases and fee structures.

Fund terms visualized

Management fees, hurdle rates and carried interest waterfalls; a visual guide to economic fund terms today.

Partners Group embraces longer holding periods

The firm joins the likes of KKR, CVC and BlackRock in targeting long-term cashflows from market-leading companies.

The holy trinity of terms: preferred return

In the final instalment of a three-part series, long-time limited partner turned consultant Ray Maxwell reflects on shortcomings of the hurdle rate in private equity and proposes an alternative.

The holy trinity of terms: management fees

Long-time limited partner turned consultant Ray Maxwell says private equity should benefit from either significant carried interest or high fees – but not both.

Why lawyers are urging lenders to get aggressive

With documentation strongly in favor of borrowers, financiers are being told to look for excuses to redress the balance of power.

Notes on a hurdle

For all the debate it provokes, the conventional hurdle rate has remained stubbornly untouched since the ’80s.

The holy trinity of terms: carried interest

Long-time limited partner turned consultant Ray Maxwell reflects on the three key economic terms at the heart of the relationship between manager and investor, starting with carry.

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