Note on Private Equity Partnership Agreements PDF Download
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Author: Josh Lerner
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Josh Lerner
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Kay Müller
Publisher: Springer Science & Business Media
ISBN: 3834997455
Category : Business & Economics
Languages : en
Pages : 334
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Book Description
Kay Müller provides insight into the monitoring activities of private equity fund investors and explores their information requirements. He analyzes the reporting of private equity fund managers, reveals information gaps and provides guidance on how to improve investor relations.
Author: Sameer Jain
Publisher:
ISBN:
Category :
Languages : en
Pages : 80
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Book Description
This book examines the economic intuition that underpins key legal terms commonly found in private equity fund partnership agreements. As a primer, it attempts to encapsulate, in non-legal language, the rationale behind economic points of negotiation, investigate the scope for trade-offs and offer practitioner insights.The private equity industry is evolving at a fast pace, as have the terms of engagement between LPs and GPs. The agreements and clauses that define the relationship between LPs and GPs are nonstandard and privately negotiated. This book examined some of the key economic and governance issues that impact the LP/GP relationship. Issues that may lead to conflict of interests were identified and methods suggested to best align investor and GP interests. Negotiating LP/GP contracts involves a balance between preserving LP rights without materially curtailing GP flexibility to provide attractive returns-the primary reason for entering these contracts in the first place. Awareness of subtle issues and their degree of economic sensitivity to all parties will, hopefully, help make transactions more efficient, reduce contractual friction and benefit the industry.
Author: Douglas J. Cumming
Publisher: Academic Press
ISBN: 0124095968
Category : Business & Economics
Languages : en
Pages : 781
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Book Description
Other books present corporate finance approaches to the venture capital and private equity industry, but many key decisions require an understanding of the ways that law and economics work together. This revised and updated 2e offers broad perspectives and principles not found in other course books, enabling readers to deduce the economic implications of specific contract terms. This approach avoids the common pitfalls of implying that contractual terms apply equally to firms in any industry anywhere in the world. In the 2e, datasets from over 40 countries are used to analyze and consider limited partnership contracts, compensation agreements, and differences in the structure of limited partnership venture capital funds, corporate venture capital funds, and government venture capital funds. There is also an in-depth study of contracts between different types of venture capital funds and entrepreneurial firms, including security design, and detailed cash flow, control and veto rights. The implications of such contracts for value-added effort and for performance are examined with reference to data from an international perspective. With seven new or completely revised chapters covering a range of topics from Fund Size and Diseconomies of Scale to Fundraising and Regulation, this new edition will be essential for financial and legal students and researchers considering international venture capital and private equity. An analysis of the structure and governance features of venture capital contracts In-depth study of contracts between different types of venture capital funds and entrepreneurial firms Presents international datasets from over 40 countries around the world Additional references on a companion website Contains sample contracts, including limited partnership agreements, term sheets, shareholder agreements, and subscription agreements
Author: Heather M. Stone
Publisher: Thomson West
ISBN: 9780314209900
Category : Private equity
Languages : en
Pages : 0
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Book Description
Raising Capital for Private Equity Funds is an authoritative, insiders perspective on key strategies for raising private equity capital in a changing legal environment.
Author: John Gilligan
Publisher: Oxford University Press
ISBN: 0192636790
Category : Business & Economics
Languages : en
Pages : 400
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Book Description
This book deals with risk capital provided for established firms outside the stock market, private equity, which has grown rapidly over the last three decades, yet is largely poorly understood. Although it has often been criticized in the public mind as being short termist and having adverse consequences for employment, in reality this is far from the case. Here, John Gilligan and Mike Wright dispel some of the biggest myths and misconceptions about private equity. The book provides a unique and authoritative source from a leading practitioner and academic for practitioners, policymakers, and researchers that explains in detail what private equity involves and reviews systematic evidence of what the impact of private equity has been. Written in a highly accessible style, the book takes the reader through what private equity means, the different actors involved, and issues concerning sourcing, checking out, valuing, and structuring deals. The various themes from the systematic academic evidence are highlighted in numerous summary vignettes placed alongside the text that discuss the practical aspects. The main part of the work concludes with an up-to-date discussion by the authors, informed commentators on the key issues in the lively debate about private equity. The book further contains summary tables of the academic research carried out over the past three decades across the private equity landscape including: the returns to investors, economic performance, impact on R&D and employees, and the longevity and life-cycle of private equity backed deals.
Author: David Toll
Publisher:
ISBN: 9781893648197
Category :
Languages : en
Pages : 80
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Book Description
Author: Niklas Hüther (Huether)
Publisher:
ISBN:
Category :
Languages : en
Pages : 52
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Book Description
We offer the first empirical analysis connecting the timing of general partner (GP) compensation to private equity fund performance. Using detailed information on limited partnership agreements between private equity limited and general partners, we find that "GP-friendly" contracts - agreements that pay general partners on a deal-by-deal basis instead of withholding carried interest until a benchmark return has been earned - are associated with higher returns, both gross and net of fees. This is robust to measures of performance persistence, time period effects, and other contract terms, and is related to exit-timing incentives. Timing practices balance GP incentives against limited partner downside protection.
Author: Roberto Ippolito
Publisher: John Wiley & Sons
ISBN: 1119526167
Category : Business & Economics
Languages : en
Pages : 341
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Book Description
A step-by-step, comprehensive approach to private equity and private debt Private Capital Investing: The Handbook of Private Debt and Private Equity is a practical manual on investing in the two of the most common alternative asset classes (private equity and private debt) and provides a unique insight on how principal investors analyze investment opportunities. Unlike other textbooks available in the market, Private Capital Investing covers the various phases that principal investors follow when analyzing a private investment opportunity. The book combines academic rigor with the practical approach used by leading institutional investors. Chapters are filled with practical examples, Excel workbooks (downloadable from the book website), examples of legal clauses and contracts, and Q&A. Cases are referred at the end of every chapter to test the learning of the reader. Instructors will find referrals to both third-party cases or cases written by the author. • Covers analytical tools • Includes the most common methods used to structure a debt facility and a private equity transaction • Looks at the main legal aspects of a transaction • Walks readers through the different phases of a transaction from origination to closing Bridging the gap between academic study and practical application, Private Capital Investing enables the reader to be able to start working in private equity or private debt without the need for any further training. It is intended for undergraduates and MBA students, practitioners in the investment banking, consulting and private equity business with prior academic background in corporate finance and accounting.
Author: Geoff Yates
Publisher: Cambridge University Press
ISBN: 1139484192
Category : Law
Languages : en
Pages :
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Book Description
This overview of a complex and often misunderstood subject takes the reader through the issues that are faced throughout the life cycle of a private equity investment, from the identification of an opportunity, through the various stages of the transaction and the lifetime of the investment, to the eventual exit by the investor. The analysis of key documentation and legal issues covers company law, employment law, pensions, taxation, debt funding and competition law, taking into account recent legal developments such as the Companies Act 2006, the recent emergence of private equity in the UK and the challenges faced by the industry as a result of the financial crisis.
