Fees and Expenses Provisions in Investment Fund Agreements
Disclosure and Reporting Obligations, Investor and Sponsor Concerns
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will provide private equity counsel with guidance on drafting and negotiating fees and expenses provisions in investment fund agreements. The panel discussion will include current trends in deal terms as revealed in the 2020 Fees and Expenses Benchmarking Survey (the Survey). The Survey is to be published by Private Funds CFO in Nov 2020 and Troutman Pepper was an influential contributor to the project.
- Fees and expenses generally
- Transaction fees
- Management fees
- Breakup fees
- Regulatory concerns
- Trends in recent fund agreements: 2020 survey
- Greater disclosure
- Expenses charged to co-investors
- Break-up fees
- Capping of fund fees
- Regulatory costs
- Implications of reduced fees payable to sponsor
The panel will review these and other key issues:
- Why are fees and expenses such a contentious issue between sponsors and investors? Which are the most sensitive?
- What are the most significant trends revealed by the 2020 Fees and Expenses Benchmarking Survey about fees, expenses, and reporting?
- How have transaction and management fees evolved?
- What are the chief concerns for co-investors about fees and expenses?
Patrick J. Bianchi
Mr. Bianchi is a member of the firm’s Corporate, Private Fund Services and Emerging Growth and Venture Capital... | Read More
Mr. Bianchi is a member of the firm’s Corporate, Private Fund Services and Emerging Growth and Venture Capital Practice Groups. He regularly represents emerging growth companies and investors in such companies in various corporate and securities transactions. Mr. Bianchi maintains particular expertise in the formation and operation of private equity investment partnerships, including partnership terms, securities laws matters and other regulatory considerations. His experience includes venture capital financings, private and public securities offerings, mergers and acquisitions and corporate governance matters.Close
Julia D. Corelli
Ms. Corelli is a member of the firm’s Corporate, Private Fund Services and Private Equity Practice Groups. She... | Read More
Ms. Corelli is a member of the firm’s Corporate, Private Fund Services and Private Equity Practice Groups. She concentrates in private investment fund formation, operations and compliance, private equity investment transactions, venture capital investments, acquisitions, dispositions and financings of business enterprises, joint ventures, and intra-partner dealings. Ms. Corelli also is experienced in matters of investment fund principal compensation and succession planning and serves as general outside counsel to family offices.Close