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Fundraising & Structuring

According to Proskauer’s latest fundraising terms and trends report, the cost of raising a fund is increasing. There are a few culprits behind this pattern.
GPs tend to like externally set pricing as it represents a market-based mark.
leverage
What was an exception is now mainstream, with buyers using leverage as bridging finance and to boost returns, according to Investec.
GP led secondaries
Any attempts to streamline the GP-led process should provide guardrails, write Maurice Gindi, Kenneth Blazejewski and Sophie Smith from law firm Cleary Gottlieb.
volatility
While initial secondaries volume estimates point to a record first half, expectations for full-year 2022 may have to be revised downward.
'Super carry' provisions letting GPs keep more than the traditional 20% help boost larger funds' profit-sharing proportions.
The former Kirkland & Ellis partner joins two other recent hires in Latham's private equity practice.
Family offices, endowments also plan on increasing private equity allocations this year.
LP skepticism, co-investor grievances and a disregard for fairness opinions were some of the secondaries-related themes to emerge at last week’s CFO’s and COO’s Forum in New York.
More non-EU alternative investment fund managers are choosing Jersey private placements rather than access EU investors via AIFMD passports.
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