Advanced Issues in Private Funds 2021 | Practising Law Institute (PLI) | 8 June 2021 | Virtual

2020 was a particularly active year, as fund managers navigated the opportunities and challenges of raising dislocation funds, communicating in a virtual environment, and responding to an increased demand for ESG and impact-focused strategies. As the private funds industry continues to evolve, fund managers are finding new and creative ways to create additional liquidity and sources of capital, often through mechanisms such as continuation funds, secondaries, recapitalizations, etc. Designed to provide an advanced analysis of the private funds industry, this program will highlight the predominant and relevant issues facing private funds lawyers and how to handle them.

Our faculty of experts will provide analysis of topics beyond the typical fundraising issues. They will share how sidecar funds have become predominant prominent features that are utilized by managers and sought after by investors and will discuss the various hybrid fund structure types and common economic and liquidity terms, as well as key considerations for fund managers across the liquidity spectrum. Attendees will also have the opportunity to examine end-of-life issues associated with continuation funds, GP-led secondaries, and recapitalizations.

What You Will Learn:
• Fundraising of both closed-ended and open-ended funds
• Tools that outside counsel can use to assist their clients in their fundraising efforts
• Common issues with managing fundraising in a closed-ended setting (for a limited period of time) when negotiating side letters
• Review various structure types and common economic and liquidity terms, as well as key considerations for fund managers across the liquidity spectrum.
• How to deal with an inability to generate illiquidity for investors in times of distress
• Differences between market-to-market compensation system and how it relates to upper-tier structure (distribution waterfall)

Who Should Attend?
Experienced securities and corporate attorneys, private equity or venture capital investors, principal investment professionals, and others involved in the fund-raising and financing businesses.

2021 Speakers

CHAIRPERSON:

Udi Grofman
Paul, Weiss, Rifkind, Wharton & Garrison LLP

SPEAKERS:

Fola Adamolekun
JP Morgan Asset Management

Whitney A. Chatterjee
Sullivan & Cromwell LLP

Andrew I. Chizzik
Weil Gotshal & Manges LLP

Susanne V. Clark
Centerbridge Partners, L.P.

Joshua S. Cohen
Sidley Austin LLP

Victoria S. Forrester
Paul Weiss Rifkind Wharton & Garrison LLP

Laura S. Friedrich
Willkie Farr & Gallagher LLP

Olga Gutman
Simpson Thacher & Bartlett LLP

Amanda Hector
D1 Capital Partners LP

Alison Horton
Davidson Kempner Capital Managment LP

Elizabeth Lenas
Cleary Gottlieb Steen & Hamilton LLP

Neil Margolies
Tilden Park Capital Management LP

Emily C. Mathews
The Blackstone Group

Rebecca Neuschatz Zelenka
Fried Frank

Amanda N. Persaud
Ropes and Gray LLP

Nicole Restivo
Key Square Capital Management LLC

Anna Rips
Skadden Arps Slate Meagher & Flom LLP and Affiliiates

Leigh Rovzar
BayPine LP and Declaration Partners LP

Andrea J. Schwartzman
Latham & Watkins LLP

David B. Sherman
Kirkland & Ellis LLP