Liquidity Options for Private Equity Funds in the Current Market
Preferred Equity Lines, Continuation Funds, Top-Up Funds, Expansion of Existing Credit Facilities

Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
- work Practice Area
Banking and Finance
- event Date
Tuesday, June 13, 2023
- schedule Time
1:00 p.m. ET./10:00 a.m. PT
- timer Program Length
90 minutes
-
This 90-minute webinar is eligible in most states for 1.5 CLE credits.
This CLE course will analyze different options for providing liquidity to private equity funds that are facing a shortage of capital in the current market environment. The panel will review the mechanics and the pros and cons of these alternative structures.
Faculty

Mr. Proctor is a partner in the Asset Management Group. He advises private fund managers on structuring, establishing, and operating private investment funds, including blind pools, co-investment funds, pledge funds, single investment funds, and other investment vehicles. Mr. Proctor also represents fund managers on their internal structuring and compensation matters and frequently advises clients in connection with co-investments and seed investments in asset managers, as well as buyers and sellers in secondary market transactions involving private fund interests and portfolios of assets held by private funds. His practice extends beyond fund managers to include institutional investors and family offices in connection with their investments in various private equity vehicles.

Mr. Farhadieh is a partner in the Asset Management Group. He has extensive experience in advising private fund managers on all aspects of the structuring and formation of a wide range of domestic and international investment funds, managed accounts, investment management arrangements, incentivization plans, management company arrangements, co-investment arrangements, and related regulatory compliance across a broad range of investment strategies, and geographic areas including U.S., Europe and Emerging Markets.

Mr. Greene is a partner in the Asset Management Group. He regularly advises domestic and foreign sponsors and investors of private investment funds in connection with formation, offering, investment and regulatory matters, with a particular focus on the representation of bank-affiliated sponsors and distributors of private equity, credit, infrastructure, real assets and secondaries funds.

Mr. Durschlag is a partner in the Corporate & Financial Services Department and a member of the firm’s Finance Department. He advises lenders, private equity sponsors, corporate borrowers and asset managers in a wide variety of domestic and cross-border transactions, including leveraged acquisition financings, debt restructurings, fund-level credit facilities and general working capital facilities.
Description
Private equity fund managers often seek ways to provide additional capital to cash-strapped portfolio companies and raise additional capital on a quick timeline to take advantage of favorable investment and expansion opportunities.
This webinar will explore several avenues of raising such additional capital, including continuation funds, use and expansion of existing subscription and other credit facility collateral, preferred equity lines, and top-up funds.
Listen as our authoritative panel of practitioners discusses the structure, benefits, and pitfalls of these alternative fund structures. The panel will compare and contrast these alternative structures and discuss how they fit in the current fundraising landscape and the overall economic environment.
Outline
- Continuation funds and other GP-led liquidity solutions
- Credit facilities, NAV loans and other financing structures in current environment
- Preferred equity lines, top-up funds and other alternatives
Benefits
The panel will review these and other key issues:
- How has the current market environment impacted the liquidity of private equity funds?
- What are some of the recent developments in terms, structure and regulatory focus on continuation funds?
- To what extent has the availability of traditional financing been impacted by the current market environment and recent bank failures?
- How can preferred equity lines, top-up funds, and continuation funds be used to raise additional capital?
- What are the benefits and pitfalls of these alternative structures?
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