TMF Group, in collaboration with Kirkland & Ellis and Evercore, will be holding a series of webinars about the hot topics in the private equity (PE) fund secondary transactions market. The first webinar will be conducted on Thursday 25 August.
With the gradual expansion of PE fund management scale both domestically and internationally, PE secondary transactions (S transactions) are multiplying. The number of fund managers and investors who focus on and participate in such transactions has been significantly increased in the past few years.
Affected by the lack of liquidity of private equity, S transactions provide investors with an alternative option to exit PE fund assets. General Partners (GP) play a very active role in GP-led S transactions, which also enable GPs/managers to manage the internal rate of return (IRR) of a fund more actively in the later stage of fund investment.
Different types of S transactions have different characteristics, and the key points of attention differ during the transaction process as well. There is a higher risk of conflict of interest to the fund managers when a more complex transaction structure appears in the market.
During the webinar, we will talk about private equity fund S transactions and introduce common transaction structures, share legal due diligence concerns, discuss core issues that need to be considered when drafting transfer agreements, and share recent practical cases.
The series of webinars will be conducted in Chinese.
Topics:
- Status and trends of private equity fund secondary market transactions
- Different types of S transaction structure
- The process and steps of GP-led S transaction
- Risks in S transactions and mechanisms to mitigate risks
Speakers:
Sabrina Li (Moderator), Head of Fund Services, China, TMF Group
Carol Liu, Partner, Investment Funds, Kirkland & Ellis
Frank Chen, Legal Director, Starr Capital
Robin Seng, Vice President, Evercore
Joint Hosts:
