PE Clawback Provisions: The Clause That Forces Your GP to Return Carried Interest and How to Evaluate It
TL/DR: A clawback provision forces your general partner to return carried interest already paid out if the fund's overall performance doesn't justify it. Only 78% of US private equity funds use whole-
Key Person Risk in Private Equity: What LP Agreements Actually Protect You From
TL;DR 97% of private equity LPAs automatically suspend the investment period when a key person event occurs, but the strength of that protection depends entirely on how the provision is drafted
GP-Led Secondaries and Continuation Funds: What Every LP Needs to Know Before the Roll-or-Cash-Out Call
TL;DR: Your GP is about to offer you a choice — roll your interest into a new continuation vehicle or take cash — and 99% of LPs aren't ready for it. The market that powers this decision hit $115 bill
NAV Financing in Private Equity: What It Is, Why GPs Love It, and Why LPs Should Be Worried
TL;DR: Your PE fund manager just borrowed against the portfolio you already own — and you probably didn't know. I want you to picture something. You invest $5 million into a private equity fund. The G
Continuation Funds: How PE Managers Restart the Fee Clock on Their Best Assets
Continuation Funds: How PE Managers Restart the Fee Clock on Their Best Assets GP-led secondaries hit $71 billion in 2024 — a 39% jump from the prior year , according to Evercore's Full-Year 2024 S...