The coronavirus pandemic has created a series of unprecedented challenges for fund sponsors and general partners (collectively, GPs) of closed-ended private funds in relation to the capital raising and operation of their funds. This article analyses some of the key issues for GPs to consider in these turbulent times. Further…
Addison Braendel focuses on private equity fund formation, with an emphasis on real estate. Fund formations have included numerous funds of funds, as well as infrastructure funds, hedge funds, energy funds, debt funds and, most recently, QOZ funds. Fund representation includes '40 Act, ERISA, Advisers Act, UBTI, FIRPTA, REIT and related tax counsel and advice. Addison's experience also includes advising investors with fund reviews and secondary purchases, as well as providing counsel in challenging circumstances including removal of general partners, sponsor insolvency, limited partner defaults and early termination events. Representations have included some of the largest and most well-known sponsors and advisors of private equity funds including The Townsend Group, Griffin Capital, Inland Capital, Mesirow Financial, Macquarie Bank, Invesco, Walton Street Capital and Prudential.