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alignment of interest

Dissecting the limited partnership agreement

The fundamental building block of the relationship between a manager and its investors is changing, but how is it best negotiated?

GPs can no longer avoid secondaries

There has never been a better time for GPs to utilize the secondaries market.

For private funds, the beginning is in the end

GPs need to show they can handle their end-of-life funds when raising a new fund.

Should end of life be a new beginning?

Negotiations and arrangements for the remaining portfolio can prove fiendishly complicated when a fund approaches the end of its term. Julie Corelli of Pepper Hamilton considers the challenges

Ensuring alignment

In this extract from The LPA Anatomised, Adam Turtle, Rede Partners, and Emma Cleveland, Cleveland & Co Associates, discuss carry models and GP commitments.

Partners Group fee income exceeds €1bn for the first time

The Swiss investor posted its largest ever fee income last year, but its performance fee pool was down by one-third despite overall performance fee growth.

Broken-deal expenses: be clear who pays

Co-investments are becoming more frequent, but policies outlining who pays up when a deal falls through are not always updated at the same pace.

Four lessons from SEC enforcement actions

We assess the agency’s priorities through the lens of recent cases.

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