Private Equity – Funds

Our private equity team includes lawyers with specialist experience establishing and representing private equity funds, and acting for investors private syndicates and private equity funds of all types.

We are active in the establishment and operation of private equity funds of all types, including:

• leveraged buy-out funds;
• venture capital funds;
• fund of funds;
• hedge funds;
• real estate opportunity funds; and
• infrastructure funds.

These lawyers work closely with other specialists in the firm in areas such as M&A, Capital Markets, Banking & Finance and Tax to ensure our clients receive a full service capability in all aspects of private equity transactions.

Establishing and refreshing funds

Our private equity funds lawyers understand the complex matrix of legal, tax, regulatory and employment issues that market participants typically encounter in forming private equity funds and structuring private equity transactions.

Typically, the transactions we are involved in include:

• establishment of funds in the form of corporations, limited partnerships and trusts;
• fund structuring and taxation advice;
• Financial Services Reform (FSR) implications of establishing private equity funds, including licensing;
• anti-money laundering compliance;
• capital raisings and negotiations with investors;
• arrangements for carried interest and other employee incentives;
• secondary sales of fund interests;
• co-ordination of foreign law advice from regional Allens offices and external foreign firms; and
• spin-offs.

Investment in funds and private syndicates

Our private equity lawyers are also experienced in acting for superannuation funds, financial services organisations, government entities, and other institutional investors in connection with their investments in private equity syndicates and funds. Our goal is to assist those institutional clients to develop and implement their investment strategies.

Our solid commercial knowledge of the industry helps us to achieve the best fund terms for our clients. We also evaluate issues relating to control, deal with regulatory constraints, and develop and execute exit strategies.

Typically, the transactions we are involved in include:

• negotiation of fund terms for cornerstone and/or minority investors;
• drafting and reviewing fund constitutional documents, investor subscription arrangements and side letters;
• advice on corporate governance and industry best practice;
• advice on participations in private syndicates and strategic joint ventures;
• taxation advice on the implications of making investments in domestic and offshore private equity investments;
• advice on the FSR and regulatory implications of making private equity investments;
• advice in relation to exit strategies, including the establishment of follow-on funds, asset sales and IPOs; and
• co-ordination of foreign law advice from regional Allens offices and external foreign firms.

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