ILPA Issues Model Subscription Agreement for Private Equity Funds
Fund Document Developed to Increase Clarity, Reduce Costs and Time to Close
WASHINGTON and TORONTO, Dec. 12, 2017 (GLOBE NEWSWIRE) -- In an effort to streamline fundraising, increase clarity and improve the efficiency of capital formation, the Institutional Limited Partners Association (ILPA) today released a model subscription agreement (MSA) for private equity funds. Developed by legal counsels representing the private equity industry, the modular, multi-jurisdictional document provides a balanced, off-the-shelf solution which can be easily customized to meet the needs of fund managers and their investors, saving significant time and cost. The ILPA MSA is available to the industry on the ILPA website.
"In speaking to private equity stakeholders about legal procedures in need of streamlining, the fund closing process was at the top of the list for constructive disruption," said Chris Hayes, Director of Industry Affairs, ILPA. "Both LPs and GPs agreed that a standard MSA would provide comfort to investors while eliminating the need for managers to re-create this core agreement and drive up legal costs for each and every fund. We are tremendously pleased with the result of our collaboration, and encourage the industry to take advantage of the work that was completed on their behalf."
The standard MSA provides certainty of legal language for LPs applying to invest with fund managers, accelerating the fundraising process by reducing review time for both parties. It also eliminates extraneous information that has crept into subscription agreements in recent years, returning the document to its core purpose. The MSA includes various bracketed provisions and removable schedules which make it customizable based on the particular requirements of the fund, including the respective jurisdictions of the GP and the LPs subscribing to the fund.
Led by Mr. Hayes, the working group that developed the document included 30 attorneys representing investors and fund managers on a global basis. The final document reflects additional input solicited from more than 60 attorneys outside the working group. Working group members include: James O'Donnell, DLA Piper UK; Semma Arzapalo, Pillsbury Winthrop Shaw Pittman LLP; Todd Boudreau, Foley & Lardner LLP; Edward Klees, Hirschler Fleischer; Anna Marie Larson, K&L Gates LLP; Adam Lippiett, Siemens AG; Mark Mezey, IFC; Yuliya Oryol, Nossaman LLP; and others.
The MSA, which represents the first in a series of model documents and best practices to be produced through ILPA's Limited Partnership Agreement (LPA) Simplification Initiative, is available for download immediately.
About the Institutional Limited Partners Association (ILPA)
ILPA engages, empowers and connects limited partners to maximize their performance on an individual, institutional and collective basis. With more than 450 member institutions representing over US$1 trillion of invested capital, ILPA is the only global organization dedicated exclusively to advancing the interests of LPs and their beneficiaries through best-in-class education, research, advocacy and events. For more information, please visit ILPA.org.
Managing Director, Communications, ILPA
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Institutional Limited Partners Association via Globenewswire
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
JDS Development Group Secures $137 Million Construction Financing From Madison Realty Capital for Distinctive Miami Beach Condominium Monad Terrace25.4.2018 00:43 | Pressemelding
New York-based Madison Realty Capital Provides Final Funding for Pritzker Prize-Winner Jean Nouvel's First Built Work in Miami MIAMI , April 24, 2018 (GLOBE NEWSWIRE) -- New York-based Madison Realty Capital has provided a $137 million construction loan to New York-based JDS Development Group for Monad Terrace. The deal indicates conviction in the development team, the high-design product by Pritzker Prize-winning architect Jean Nouvel and the South Beach market's extremely limited new development inventory and viability. The financing will fully capitalize the project, which features 59 individually-designed waterfront residences. "This is a unique assemblage of land within a prime waterfront residential enclave in South Beach, Miami and we are excited to close another transaction with an esteemed developer like Michael Stern," said Josh Zegen, Co-Founder and Managing Principal of MRC. "In addition, there's virtually no new development product coming out of the ground in South Beach r
Williams Scotsman to Announce First Quarter 2018 Results on May 3, 201824.4.2018 21:59 | Pressemelding
BALTIMORE, April 24, 2018 (GLOBE NEWSWIRE) -- WillScot Corporation (NASDAQ:WSC) ("Williams Scotsman") today announced that it will release its first quarter 2018 financial results on Thursday, May 3, 2018, after the markets close. President and Chief Executive Officer Bradley Soultz, and Chief Financial Officer Timothy Boswell will host a conference call and webcast on Friday, May 4, 2018, at 10:00 a.m. EDT to discuss the results for the first quarter. The live call can be accessed by dialing (855) 312-9420 (U.S./Canada toll-free) or (210) 874-7774 (international). A live webcast will also be accessible via the "Events & Presentations" section of the Company's Investor Relations website https://investors.willscot.com. An archived version of the webcast will be available for 60 days following the call. About WillScot Corporation Headquartered in Baltimore, Maryland, WillScot Corporation is the public holding company for the Williams Scotsman family of companies in the United States, Can
Nasdaq Announces Results from 2018 Annual Meeting of Stockholders24.4.2018 20:00 | Pressemelding
Jacob Wallenberg, New Director, Elected to the Board and Nine Directors Re-elected Nasdaq Board Re-elects Michael R. Splinter as Chairman of the Board NEW YORK, April 24, 2018 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq:NDAQ) stockholders today elected all nominated directors at the company's Annual Meeting of Stockholders. All directors will serve one-year terms. Elected board members include: Melissa M. Arnoldi, President of Technology & Operations, AT&T Communications Charlene T. Begley, Retired SVP & CIO, General Electric Company Steven D. Black, Co-CEO, Bregal Investments Adena T. Friedman, President and CEO, Nasdaq Essa Kazim, Governor, Dubai International Financial Center and Chairman, Borse Dubai and Dubai Financial Market Thomas A. Kloet, Retired CEO & Executive Director, TMX Group Limited John D. Rainey, CFO and EVP of Global Customer Operations, PayPal Holdings, Inc. Michael R. Splinter, Retired Chairman and CEO, Applied Materials, Inc. Jacob Wallenberg, Chairman, Investor AB L
Inspiration Updates Proposed Acquisition of Compassion Cannabis24.4.2018 17:00 | Pressemelding
TORONTO, April 24, 2018 (GLOBE NEWSWIRE) -- Inspiration Mining Corporation (CSE:ISM) (the "Corporation") is pleased to announce that its ongoing negotiations with Compassion Cannabis Corp ("Compassion") and the related due diligence is going very well and ahead of the targeted date. The Corporation has commenced discussions pertaining to the terms and conditions of a proposed share exchange agreement and the resulting structure of the Corporation's board of directors. Compassion is a private Ontario company which has expertise to forward various facets of the explosive new market of the marijuana industry, including but not limited to the "Vape" market and dispensary centers for the industry. The Corporation believes that this is an extremely lucrative space with tremendous demand in the medical cannabis industry. The cannabis market is growing exponentially every day with new and exciting innovations in the industry. Compassion has narrowed down its possible research and development l
Barings Supports Liberty Hall on Refinancing of AIM Aerospace24.4.2018 16:00 | Pressemelding
CHARLOTTE, N.C., April 24, 2018 (GLOBE NEWSWIRE) -- Barings, one of the world's leading financial services firms, announced today that it served as the sole agent and lead arranger on first lien senior credit facilities to support Liberty Hall Capital Partners' refinancing of the existing debt of its portfolio company, AIM Aerospace. AIM Aerospace, based in Renton, Washington, is a leading designer and producer of advanced composite structures, systems, engine components and thermoplastic technology for the global aerospace industry. The company supplies thermoset and thermoplastic composite solutions to Tier 1 aero-structure and aero-equipment suppliers and to aircraft original equipment manufacturers (OEMs). "Liberty Hall appreciates the partner-like approach that Barings brought to support our investment in AIM Aerospace," said Rowan Taylor, Liberty Hall's founding Partner. "Barings' creativity in structuring, ability to move quickly and speak for the entire facility helped expedite
Appian Announces Strategic Technology Alliance with Genesys24.4.2018 15:04 | Pressemelding
Companies align development, marketing, and sales to deliver intelligent case management for contact center excellence RESTON, Va., April 24, 2018 (GLOBE NEWSWIRE) -- Appian (NASDAQ:APPN) today announced a strategic technology alliance with Genesys®, the global leader in omnichannel customer experience and contact center solutions. The partnership will benefit organizations seeking next-generation customer engagement solutions that integrate the case management, intelligent automation, and low-code application development capabilities of Appian with the Genesys Customer Experience Platform. "Over the last several years, Serco has used Appian technology, alongside Genesys, to deliver contact solutions to its Federal customers, having processed tens of millions of cases across thousands of contact center agents through our systems. We are excited to hear about the tighter technology partnership between Appian and Genesys as it opens up the possibility to deliver more efficient solutions
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom