Common Provisions in Alternative Asset Management
What you'll learn
- You'll learn about the usual fees and provisions charged in Alternative Investments management agreements
- You'll learn about specific provisions negotiated in Private Equity, Venture Capital, and Hedge Funds
- You'll learn about situations regarding fund extensions, fund restructurings, and successor funds for closed-end funds
- You'll learn about key governance provisions related to a fund, from Key-Person Events to investment mandates, LP commitees, and more
Requirements
- You don't need any prior knowledge (knowledge of asset management will naturally help, but is NOT required)
Description
For any Alternative Investment Fund Manager (AIFM), whether managing an open-end fund such as a Hedge Fund or a closed-end fund such as a Private Equity fund (including Venture Capital), common provisions include:
- Fees charged (including the usual management and performance fee - the "carry" in closed-end funds such as in Private Equity);
- Reporting frequency and structure;
- Fund extensions and restructurings;
- For closed-end funds, interest sales governance (for secondaries sales);
- Rules regarding capital commitments - and in the case of closed-end funds, the equalisation process;
- The role of the management team's commitment;
- Key-person events and GP team devotion;
- GP indemnification and exculpation rights;
- Rules regarding the raising of successor funds for closed-end funds;
Although many of these are usually redacted and/or verified by legal experts, it's important for any fund manager to have a basic knowledge of these provisions - both to effectively negotiate when closing new investors, but also to take into account during the fund management process.
Besides fund managers, these provisions are also important for anybody with a significant role in a fund in Alternative Investments, including associates or more senior VPs and principals that wish to one day start their own fund, or that have just been admitted into the carry vehicle and want to know more about the nuances of a fund's provisions.
Who this course is for:
- You're any current (or prospective) Alternative Investment Fund Manager (AIFM), whether in Private Equity, Venture Capital or Hedge Funds
- You're any current (or prospective) associate in Alternative Investment Funds (Private Equity, Venture Capital or Hedge Funds)
Instructor
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I have what could be considered an unconventional background as a coach. I don’t come from psychology or medicine. In fact, I come from tech. I created two tech startups that reached million-dollar valuations, backed by the MIT-Portugal IEI startup accelerator, afterwards becoming its Intelligence Lead.
After years of coaching and mentoring startup founders on talent management, emotional management, influence and persuasion, among other topics, I started being requested by executives and investors, like venture capitalists, with more complex, large-scale problems.
After years of doing executive work, I started specializing in coaching asset management professionals. With the signing of my first fund manager/CIO clients, I started adapting my performance and influence techniques for purposes such as talent management for PMs and analysts, fundraising from allocators, effective leading a team, and properly assessing talent for compensation/promotion/allocation increases.
I currently provide performance coaching and influence/persuasion coaching for executives and asset management professionals, mostly but not limited to purposes like managing people, leading and closing sales/capital commitments.