Fund Formation
Our lawyers have extensive experience in forming private equity funds, many with sophisticated structures attracting multi-billion dollar commitments. Acting as “outside counsel” to the sponsors and managers of these funds, Cleary Gottlieb develops optimal fund structures, taking into account investment objectives, tax considerations, securities laws and cross-border investment issues. Our leading experience includes negotiating all aspects of fund formation – from fund documentation to strategic GP ownership stakes – as well as continued comprehensive advice to funds. We have assisted sponsors of, and investors in, private funds pursuing numerous investment strategies, including buyout, distressed debt, infrastructure, international and regional funds, venture capital, hedge funds and funds of funds.
Read More »
Selected Recent Representations Include:
- Helios Investment Partners in connection with the formation of its second private equity fund, Helios Investors II, the largest pan-Africa investment fund to date.
- TPG Capital in connection with its partnership with the municipal governments of Shanghai and Chongqing, two of the biggest cities in China, to raise and manage two Chinese RMB-denominated investment funds.
- TPG Opportunities Advisors in the formation of TPG Opportunities Partners II, an investment fund focused on special situations and distressed credit investments.
- Victoria Capital Partners (formerly DLJ South American Partners) in connection with the formation of its second private equity fund, Victoria South American Partners II, a Latin America-based private equity fund.
- Counsel to TPG Capital in the formation of TPG Growth II, an investment fund focused on small- and middle-market growth equity and buyout investments in developed and emerging markets.
- The Raine Group in connection with the formation of its first private equity fund, Raine Partners I.
Leading firm in private equity fund formation
Chambers Global and Chambers USA (2004-2011)
“This New York-based firm stands out for its fund formation work and strong transactional private equity practice. ‘Their client service focus is very impressive – our overall opinion of the firm is very positive, and we will look for more opportunities to work with them.’”
Chambers Global (2012)
“This highly regarded US firm is frequently enlisted as counsel for special projects, including the restructuring of private equity funds.”
Chambers Global (2011)
“Commentators say the firm is ‘at the top of its game – its approach is really client-oriented and intelligent.’ Others remarked that they felt able to ask the team ‘thorny questions – anything from acquisition to tax issues and ERISA.’”
Chambers Global (2009)
Commentators remark that this is a ‘truly global law firm with a solid understanding of how to handle large cross-border fund work.’”
Chambers Global (2008)