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  • videocam On-Demand
  • signal_cellular_alt Intermediate
  • card_travel Banking and Finance
  • schedule 90 minutes

Alternative Private Equity Structures: Continuation Funds, GP-Led Secondaries, and Permanent Capital Vehicles

Structuring and Negotiating Alternative Private Equity Structures for Investment Managers and Investors

$347.00

This course is $0 with these passes:

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Description

As the private equity industry matures, general partners seek longer-dated funding sources for their investments and themselves for several reasons. They want to reduce fundraising costs, provide for more certainty of capital, and ensure more time to enhance the value of their portfolio companies and better time exits with the market cycle.

Continuation funds permit general partners to hold portfolio companies past the term of a fund and possibly invest new capital while returning capital to investors.

Permanent capital vehicles, which come in multiple varieties, permit general partners to raise and deploy capital over a potentially unlimited time horizon, freeing them up from the typical 10-year fund lifecycle.

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 the current fundraising landscape.

Presented By

Michael A. DeNiro
Attorney
Willkie Farr & Gallagher, LLP

Mr. DeNiro’s practice is focused on transactional and regulatory matters involving registered investment companies, including closed-end funds and business development companies, and their investment advisers. He regularly advises registered funds and their sponsors on regulatory and compliance matters, including with respect to co-investment transactions, as well as disclosure issues, corporate governance and other matters. Mr. DeNiro has particular experience advising on the structuring, registration and operation of interval funds and tender offer funds providing access to alternative investment strategies, including private credit and private equity.

Kyung Woo Kim
Partner
Willkie Farr & Gallagher, LLP

Mr. Kim is an associate in the Corporate and FinancialServices Department of Willkie Farr& Gallagher in New York. He has concentrated his practice on structuring and negotiating complex businesstransactions for middle-market companies and private equity clients,including mergers, acquisitions,leveraged buyouts and debt and equityfinancings.

John M. Knapke
Partner
Willkie Farr & Gallagher, LLP

Mr. Knapke is a partner in the Asset Management Department. His practice focuses on private investment funds. In the area of fund formation, he has assisted sponsors with the formation of closed-end domestic and international funds, including funds focused on growth equity, distressed debt, energy, mezzanine and real estate investments. In addition to his sponsor-side work, Mr. Knapke also regularly advises investors in connection with primary and secondary investments.

Deborah A. Tuchman
Partner
Willkie Farr & Gallagher, LLP

Ms. Tuchman has extensive experience representing hedge funds, funds of funds, commodity pools, investment advisers and distributors of investment funds. She focuses on advising clients in connection with structuring domestic and offshore funds, negotiating side letters, separately managed account agreements and placement agreements, trading and conflict issues, and regulatory compliance. Ms. Tuchman also routinely advises family office clients and other high net worth and institutional investors in connection with investments in private investment funds and co-investment vehicles.

Credit Information
  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.


  • Live Online


    On Demand

Date + Time

  • event

    Thursday, September 21, 2023

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

  1. Permanent capital vehicles
  2. Continuation funds
  3. General partner-led secondaries

The panel will review these and other key issues:

  • What are the market factors causing investors to look more closely at alternative private equity fundraising structures?
  • What advantages do these structures present for general partners and investors?