U.S. Resources:
The book provides guidance on every decision that has to be made in creating a new fund (including PIPEs, SPACs, mezzanine funds, and credit opportunity funds), It is designed to provide a comprehensive understanding of how private equity funds work and are regulated.
- See AlsoHow do private equity funds measure performance?Private Equity vs. Public Equity: What’s the Difference? | SIXDebt & Equity TutorialsPrivate Equity: Overview, Guide, Jobs, and Recruiting
Focuses on a series of typical transactions carried out with venture capital/private equity money (e.g., a new business start-up, a growth equity investment in an existing business, a leveraged buyout of a private or public company, a leveraged recapitalization, an equity-based executive compensation program, a restructuring or workout for an over-leveraged enterprise, devising an exit scenario for the successful venture financed company, and forming a private equity fund). With respect to each transaction, the tax, corporate law, partnership law, LLC law, securities regulation, bankruptcy, accounting, and other legal and practical issues typically encountered are explored, along with a myriad of potential solutions and practical structuring alternatives (e.g., the use of common and preferred stock, convertible debentures, convertible preferred, warrants, and options).
Provides a comprehensive catalog of the standard terms and conditions in investment fund and private M&A documents. It interprets common tax language and provides examples of different drafting techniques. The publication also outlines precedents related to the private M&A and investment fund industry and identifies numerous negotiation points.
This reader-friendly guide offers practical guidance on a wide spectrum of issues that confront fund managers. It addresses manager compensation and exit strategies, including the sale or public offering by an investment adviser. Chapters cover structuring funds in a tax-efficient manner and in compliance with the U.S. federal securities laws.
Examines all of the deal terms you may encounter: anti-dilution protection, warrant coverage, liquidation preferences, and others. It provides clause-by-clause discussion of the Stock Purchase Agreement and model documents, opinion letters and a due diligence checklist contributed by a Big 4 accounting firm. There is current data from an industry-wide survey of West Coast and East Coast deal terms and trends, so you'll know whether a given provision is "market" or "industry standard".
This portfolio discusses the regulatory provisions that now apply to the private equity industry, including oversight and regulation of conflicts of interest, record-keeping requirements, rules governing offering materials, public disclosure obligations, and requirements to establish and maintain a strong compliance program headed by a chief compliance officer.
This portfolio provides an overview of the legal and economic issues surrounding the formation of private equity funds.
Private Equity Funds (U.S. Income Portfolio Series, No. 735) (available via Bloomberg Law)
This portfolio offers an in-depth analysis of the U.S. federal income tax issues that arise in the representation of private equity funds (including venture capital) and their investors. Its purpose is to provide a source of guidance to tax practitioners who regularly practice in this area. By way of introduction, the Portfolio begins with a brief overview of the nature of these funds and how they differ from other types of investment partnerships. It then describes the general regulatory environment in which they operate.
