The current economic outlook has raised a host of allocation and liquidity issues for investors in private equity and venture capital (PE/VC) funds. Among them are over-allocation, significant losses in liquid capital reserves, fewer and smaller PE/VC distributions, and additional capital infusions into portfolio companies by PE/VC funds to carry them through this difficult period.

PE/VC fund sponsors are now receiving investor requests to reduce or terminate future capital commitments, consent to partial or complete capital withdrawals, or consent to transfers of investor interests in the fund. Knowing how to respond to such requests will be key in the successful management of PE/VC funds in this tough economic climate. Our panel of private investment fund experts will explore how fund sponsors can address capital needs while being responsive to investor liquidity constraints.

Topics of discussion include:
Political and precedential considerations
Investor defaults
Legal considerations: fiduciary duties, broker-dealer activity, confidentiality concerns
Limitations in fund documents
ERISA and tax considerations


Practice Areas:		Banking & Finance Law, Venture Capital & Private Equity

Online Media Type:		Audio

Production Date:		03/16/2009

Level:		Intermediate

Category:		Standard

Duration:		1 Hours, 24 Minutes

Online Format:		On Demand

Course Type:		Public

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Speakers:

•	Rufus C. King - Partner, Goodwin Procter LLP
•	Jonathan Axelrad - Partner, Goodwin Procter LLP
•	David W. Watson - Partner and Chair, Private Investment Funds Practice, Goodwin Procter LLP


	This product is designed to provide information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.