June 06, 2017
Mike Mascia comments in Private Equity International on how general partners typically document the use of fund finance with their limited partners.
An excerpt from "Three Questions on Fund Finance," Private Equity International, June 6, 2017:
From your experience, how do GPs typically document the use of fund finance with their LPs?
Mike Mascia: What we did early on, and in some deals still do today, was to have an investor acknowledgement letter. But it can be a burden for the funds to go to all the investors for big funds and sign up, let's say, 300 of those. So the trend more recently has been for that language to be included into the fund's partnership agreement. Most deals now instead of requiring letters just have the substance put into the partnership agreements.
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