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alignment of interest

Notes on a hurdle

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

Three approaches to calculate waterfall in private equity systems

Consultant Gert-Tom Draisma lays out the options in the extract from The Definitive Guide to Carried Interest.

Pressing the reset button: tax considerations of resetting management equity

Chartered tax advisor Peter Abbott of Macfarlanes explains the UK tax implications of the move.

GPs abusing ‘hedge clauses’ to dodge fiduciary duty: ILPA

An LP lobby group says a change in Delaware law and an SEC no-action letter unleashed a 'perfect storm' to the detriment of private fund investors.

How a GP sets its commitment to the fund

Private equity fund investors expect managers to put money into a fund. Stephen Sims and Greg Norman of Skadden, Arps, Slate, Meagher & Flom discuss the potential bones of contention.

Idinvest: LPs negotiating ‘harder and harder’ on the LPA

Guillaume Cavalin has joined Paris-based Idinvest Partners as legal director from Jones Day, the third legal hire the firm had made in 18 months. pfm caught up with Cavalin to get his take on how private equity fund structuring – and LP demands – are changing.

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

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