The No-Fault Divorce Clause: How LPs Remove a GP Without Proving Cause
A no-fault divorce clause, also called a no-fault removal provision, is the section of a private equity or venture capital limited partnership agreement that lets a supermajority of limited partners...
If Your IC Process Lives in Your Head, You’re Not Scalable
Most fund managers think their investment committee process is stronger than it is.
NAV Loans in Private Equity: What LPs Don't Know Can Hurt Them
According to ILPA guidance on NAV facilities , the following analysis reflects current market conditions and publicly available data. NAV Loans in Private Equity: What LPs Don't Know Can Hurt Them bod
Key Man Clause in Private Fund LPAs: What Actually Happens When It Triggers
TL;DR: A key man clause (also called a "key person" provision) is the section of a fund's limited partnership agreement, or LPA (the contract governing how a private fund operates and how the general...
The Key Person Clause: What Actually Protects You If Your Fund Manager Walks Away
Most LPs invest in a fund because of two or three specific people, and almost none of them read the clause that protects them if those people leave, according to the SEC's own investor education...