Private Equity Funds: Formation and Operation

Designed to provide you with a comprehensive understanding of how private equity funds work and how they are regulated, Private Equity Funds: Formation and Operation helps you understand the different kinds of funds, including PIPEs, SPACs, mezzanine funds and credit opportunity funds. It discusses the negotiation of terms between fund sponsors and investors, including fund size, the investment program, capital commitments and contributions, distributions, and related documentation.


Private Equity Funds walks you through every decision that has to be made in creating a new fund, including helping you to:

• Choose the right organizational options for funds and their sponsors
• Structure and implement ownership and compensation arrangements that work best for each fund
• Hire and retain the best fund talent
• Qualify for the Securities Act’s private placement exemption, the IAA’s exclusion from registration as an investment adviser, and other exemptive relief

• Structure beneficial seed capital transactions with strategic investors
• Accrue the benefit of allowing principals and employees to participate in the income streams as equity owners or profit-sharing participants in a fund sponsor’s management entities
• Avoid potential liability as a result of developing an excessively specific investment program as a fund manager