Sidley Austin Partners Discuss Trends in GP‑Led Secondary Transactions and Rep & Warranty Insurance

While statistics show that fundraising for private equity (PE) funds was generally down in 2018 from the previous year, there were areas of significant growth within the industry at large. Notably, there has been a rise in the amount and types of secondary transactions led by general partners (GPs), as well as the purchase of representation and warranty insurance when PE funds acquire portfolio companies. These topics were addressed at length at a recent program hosted by Sidley Austin, which was moderated by David P. Kreisler and featured Angela Fontana, Beth M. Quintana and Alexander B. Temel, all of whom are partners at the firm. This article summarizes the key takeaways from the program. For additional commentary from Sidley Austin attorneys, see “E.U. Publishes Blacklist and Grey List of Non-Cooperative Tax Jurisdictions: Funds Formed in Grey-Listed Bermuda, Cayman Islands, Guernsey, Jersey and Others May Be Affected by Potential Tax Law Revisions” (Jan. 11, 2018); and “How the E.U. Tax Haven Blacklist May Affect Private Funds Formed in Blacklisted Jurisdictions” (Nov. 2, 2017).

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