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Practice Area
We act for the sponsors raising capital and, in separate matters, for the institutions committing it. Knowing how both sides read a term sheet is the point.
Practice contacts
Our funds practice covers formation and closing of private funds, continuation vehicles and other sponsor-led secondaries, co-investment arrangements, and the regulatory framework a manager operates within once the first close is behind it.
Continuation vehicles are now roughly half of what the practice does. They are no longer exceptional transactions, and we do not draft them as though they are: conflicts disclosure, valuation process, and advisory committee consultation are set up at the start of the process rather than assembled in the final week.
On the regulatory side we advise on licensing, marketing and distribution across jurisdictions, and the ongoing obligations that determine what a cross-border fundraise actually costs to maintain each year.
Capabilities
Closed-end and evergreen structures, terms negotiation with anchor investors, and side letter management across large investor bases.
Sponsor-led transactions, strip sales, and LP-led portfolio sales, with the conflicts and valuation process governed from the outset.
Bespoke mandates for institutional investors, including governance, fee arrangements, and allocation policy.
Licensing, marketing permissions, and the compliance obligations that attach to distribution across multiple jurisdictions.
Diligence and negotiation for endowments, foundations, and pension investors committing to third-party funds.
The team
Representative Matters
Three authorities, three timetables, and a screening system that had been correctly designed and incorrectly configured.
A sponsor-led secondary in which the conflicts process was settled before the transaction was announced rather than defended after it.
Eleven assets, a maturing facility, and a lender that wanted participation in the upside rather than a higher margin.
Industries
Banks, asset managers, insurers, and the payments businesses now regulated like all three.
Universities, foundations, cultural institutions, and the investment offices that support them.
Generation, transmission, digital infrastructure, and the long-duration contracts behind them.
Software, devices, and data businesses, and the older companies that have become them.
Speak to the firm
Describe the matter in general terms and name the parties involved. We run a conflicts check, usually within two business days, and a partner in the relevant practice will call you. The first conversation is not charged.