Private Fund Management During the Pandemic: Investment, Distribution, Governance, and Fund Finance Concerns
Interacting With Investors, Lenders, and Regulators in the Current Environment
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will examine the critical issues that private fund managers should consider in managing funds and fund investments during the COVID-19 epidemic. The panel will discuss actions which managers should take now with regard to their investors, lenders, and regulators.
Outline
- Implications of COVID-19 for managers of PE funds, hedge funds, and other private funds
- Fundraising considerations
- Fund management considerations
- Assessing and responding to liquidity issues and withdrawal requests
- Portfolio company issues: managing fiduciary duties to portfolio companies and fund investments
Benefits
The panel will review these and other relevant topics:
- What are key provisions counsel should be reviewing in partnership agreements, investment management agreements, and other key documents?
- What steps should fund managers take concerning outstanding credit facilities?
- What are key concerns for portfolio companies in distress?
- How might SEC and other reporting requirements be affected by the current pandemic?
Faculty
Howard J. Beber
Partner
Proskauer Rose
Mr. Beber is a partner in the Corporate Department and co-head of the Private Funds Group, which is recognized by... | Read More
Mr. Beber is a partner in the Corporate Department and co-head of the Private Funds Group, which is recognized by Chambers Global, Chambers USA and US Legal 500. His practice focuses on representing private funds sponsors in all aspects of their business, including fund formation and ongoing operations and internal structuring and compliance. Mr. Beber's practice includes buyout, growth equity, venture capital, private credit, secondary and fund-of-funds, ranging from some of the largest and well known sponsors in the industry to newly-formed managers. He advises clients on a broad range of secondary transactions, including the acquisition and sale of partnership interests, tender offers, preferred equity financings, fund restructurings and other GP-led transactions, and has worked with several management teams on large spin-out transactions. Mr. Beber routinely represents some of the most active institutional and fund-of-fund investors when investing in venture capital, growth equity, buyout, private credit and other private investment funds, as well as co-investment transactions. He has been an active member of the Private Investment Funds industry for many years. Mr. Beber is frequently invited to speak at major industry events and has authored numerous articles regarding managing and investing in private investment funds. Howard is a contributing author to “The Business of Venture Capital,” a leading book on the venture capital industry.
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Michael R. Hackett
Partner
Proskauer Rose
Mr. Hackett is an experienced litigator and trial lawyer focused on sophisticated business disputes. A significant... | Read More
Mr. Hackett is an experienced litigator and trial lawyer focused on sophisticated business disputes. A significant portion of his practice concerns disputes and regulation involving private funds, including private equity, venture capital, hedge, real estate and private credit funds, as well as other limited partnerships, where he regularly advises funds, fund sponsors, investment advisers and institutional and individual investors. Mr. Hackett’s experience representing private fund clients runs the gamut, from control contests within advisers, to disputes between limited partners and general partners, to representation of investment advisers in connection with regulatory examinations, investigations and enforcement matters. He also routinely represents fund sponsors and their portfolio companies, including in significant post-closing disputes.
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Ira P. Kustin
Partner
Paul Hastings
Mr. Kustin is a partner in the Investment Management practice. He focuses his practice on advising sponsors of, and... | Read More
Mr. Kustin is a partner in the Investment Management practice. He focuses his practice on advising sponsors of, and investors in, complex hedge, private equity and credit funds, and regularly counsels private fund advisers on international investment platforms including in Europe, Asia, and Latin America. Mr. Kustin’s clients range from market-leading global asset managers, to startups, mid-sized, and larger managers. He has extensive experience counseling established, global investment advisers as well as start-up managers in most aspects of their operations and regulatory compliance matters. He advises investment fund managers faced with complex restructurings, succession planning, crisis/conflict resolution, and consent solicitations. His practice includes advising clients on the structuring of arrangements between investment managers’ principals, seeding transactions, co-investment and secondary transactions, and LP-side investments in private funds.
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