EU Taxonomy – Challenges and opportunities for GPs

What is the EU Taxonomy?  The EU taxonomy was created as a classification system for sustainable economic activities. In response to our worsening climate crisis and the lack of initiative from the broader private sector, in 2019 the European Commission launched the Green Deal. The Green Deal set out an ambitious 2030 Climate Target Plan,…

A Christmas Caroline

As is the tradition for this time of year, at Christmas, our resident poet, Daniel Daines, has written and performed a festive poem. Watch the Christmas Carol-themed video below: This short Christmas tale describes Steve’s lack of progress with pursuing a relationship with Caroline, with his biggest hinderance boiling done to one thing. Communication. It…

Putting more pep in your PPM

The Private Placement Memorandum (PPM) remains a core document in most alternative assets fundraisings. It is usually considered a ‘reliance document’, contains required risk factors and disclaimers, and will normally form part of the pack of ‘legal docs’ for a closing. Beyond this, LPs still find a PPM useful when putting together their own investment…

10 tips for the perfect DDQ

The Due Diligence Questionnaire (DDQ) is a key item in the suite of due diligence materials that most, if not all, private markets fund managers will need to prepare when raising a fund. No longer a “nice to have”, the DDQ has evolved into an often-lengthy document that addresses all aspects of the new fund…

Never tell an institutional allocator that it is in a dire situation!

We spend a lot of time helping GPs figure out how best to approach allocators, what to say, what to do, how to do it, etc. Because of this, we have a lot of insight into what works and what doesn’t work. Telling an allocator that they need to do something immediately or risk immediate…

Great expectations for SuperInvestor?: Top tips to avoid hard times on the conference room floor

In preparation for SuperInvestor, we discuss our top tips for preparing for a conference. We also discuss how to get the most out of a conference when there and how to follow up afterwards. Be prepared and ready! It’s the twilight hour; a magical time when rays of late autumn sun dance playfully from watch…

When investors default – part 2: prevention is the best remedy

In last month’s article, we looked at what happens when an investor in a private equity fund defaults on its obligation to meet capital calls. In this article, we examine some of the other issues arising from an LP default for the fund, its manager, investors and financial regulators. If an investor fails to meet…

When investors default – part 1: commitments and consequences

In this article, the first of two (click here to read the follow up article), we look at what happens when an investor in a private equity fund defaults on its obligation to meet drawdown requests; the effects of a default on the fund manager and the other investors; and the tools available to the…

GP-led secondaries: Everything you wanted to know but were afraid to ask

Secondaries have been a hot topic in private equity in recent years. The first secondaries fund in history raised a mere $6 million in capital back in 1981. Forty years later, the biggest secondaries fund of all, managed by Ardian, has $19 billion in capital. In 2020 alone, secondaries funds raised $100 billion. Four of…

The end of the line: key considerations when ending a limited partnership

Unless a private fund is organised as a permanent capital vehicle, a limited partnership has a limited lifespan that will, one fine day, come to an end. And while the event of termination is less likely to enjoy the acclaim and publicity accorded to fund closings, the termination scenarios represent an important stage in the…

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