• videocam Live Webinar with Live Q&A
  • calendar_month November 17, 2026 @ 1:00 PM ET/10:00 AM PT
  • signal_cellular_alt Intermediate
  • card_travel Corporate Finance
  • schedule 90 minutes

Improving Private Equity Fund Liquidity: Distributions, Secondaries, and Continuation Fund Strategies

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Discount expires 11/3/26

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About the Course

Introduction

This CLE course will examine liquidity challenges facing private equity (PE) funds and the strategies funds can use to keep capital moving, including distributions, secondary transactions, continuation funds, and investment strategies that may improve investor liquidity.

Description

Liquidity has become one of private capital's defining challenges. PE funds need to return capital to partners, rebuild investor confidence, and successfully close new fundraising rounds. In challenging markets, especially those plagued by political risk and high interest rates, the cost of capital infusion is high. As investors demand faster paths to value, innovative structures and strategies can be powerful tools to keep capital moving.

This webinar will address the need for PE funds to improve liquidity, with a goal of supporting fundraising, and various ways in which PE funds are able to offer liquidity to investors. This webcast, designed for experienced attorneys, will explain the differences between distributions and recycling investment proceeds and outline the scenarios each is best suited for. Time will also be spent analyzing how to formulate investment strategies in more meaningful ways to improve distribution proceeds. Our faculty will also explore how secondary transactions can be used to improve liquidity (both GP- and LP-led sales) and how their efficacy and mechanics compare to establishing a continuation fund as a liquidity solution.

Listen as our authoritative panel discusses different PE fund transactions and structures that offer liquidity and the disadvantages of funds that are not optimizing liquidity for investors

Presented By

Timothy J. Clark
Global Co-Head of Private Funds and Secondaries
Freshfields
Phyllis A. Schwartz
Partner
McDermott Will & Schulte

Ms. Schwartz focuses her practice on the structuring, formation and operation of private equity funds, including buyout funds, venture capital funds, mezzanine funds, distressed funds and real estate funds. She represents both fund sponsors and investors in her practice. In addition to assisting fund sponsors with their internal management arrangements, succession planning and the creation of internal investment and co-investment vehicles, Ms. Schwartz has extensive experience with institutional investors and regularly advises clients on market terms of investment funds. She also advises private equity funds in connection with their investments in, and disposition of, portfolio companies and the establishment of capital call credit lines.

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Credit Information

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


  • Live Online


    On Demand

Date + Time

  • event

    Tuesday, November 17, 2026

  • schedule

    1:00 PM ET/10:00 AM PT

I. Distributions vs. recycling of investment proceeds

II. Secondary transactions: traditional exits vs. continuation funds

III. Impact of investment strategies on distributions

IV. Shorter vs. longer investment periods and terms

V. Practitioner pointers and key takeaways

The panel will review these and other key issues:

  • How has the current market environment impacted the liquidity of PE funds?
  • What are investors' views on continuation funds?
  • Which strategies are more likely to afford distributions?
  • Should recycling be curtailed?