worldwise advantage

Private Funds

We advise clients in the formation and operation of all types of domestic and offshore private investment funds, including:

• Private equity funds 
• Buyout funds
• Venture funds
• Secondary funds
• Funds of funds
• Real estate funds
• Private funds targeting investors in China and Southeast Asia
• Distressed debt funds
• Small Business Investment Companies (SBICs)
• Hedge Funds

Representative Transactions

SPONSOR REPRESENTATIONS - U.S. FUNDS

• Represented a private equity sponsor group based in the southwestern U.S. in connection with formation of
  • a $175 million private equity fund formed to make control equity investments in profitable middle market companies with sustainable businesses;
  • a $25 million co-investment fund for LPs making additional direct investments in main fund’s first portfolio company;
  • a $75 million strategic opportunities fund formed to make investments in debt or equity securities of middle market companies with sustainable businesses; and
  • an evergreen private equity fund formed to make investments in businesses that operate in a manner consistent with principles of conscious capitalism and have the potential to provide long-term capital appreciation and cash flow.
• Formed a $60 million mezzanine fund organized to make $2 million to $7.5 million investments in middle-market companies.
• Represented a sponsor group in connection with formation of proposed $250 million private equity fund formed to make investments in energy-related businesses and other companies operating in the Arctic region.
• Represented a real estate asset management firm focused on the $3 trillion single-family rental market, in connection with
  • a $300 million joint venture with The Carlyle Group, a leading private equity firm, formed to acquire single-family homes;
  • the formation of proposed $200 million private equity fund being formed to acquire, renovate and rent single- family homes; and
  • the formation of a private trading fund being formed to acquire and resell single-family homes.
• Advised a $5 billion fund group based in New York on registration requirements and compliance issues under Dodd-Frank Act and Investment Advisers Act of 1940.
• Advised a U.S.-based sponsor group in connection with a proposed $250 million project fund which would make investments globally in alternative energy projects and technology.
• Formed a $90 million SBIC mezzanine fund managed by Brown Brothers Harriman & Co.
• Represented a U.S.-based hedge fund formed to make Asia-oriented investments, in connection with additional capital raise, and compliance with Dodd-Frank Act and Investment Advisers Act of 1940.
• Advised a $250 million U.S.-based credit fund formed to make investments in distressed consumer credit receivables.
• Represented Affinity Ventures II LP and Affinity Ventures V LP, venture capital funds investing in the healthcare sector.

SPONSOR REPRESENTATIONS - OFFSHORE FUNDS

• Representing a New York-based sponsor group in connection with formation a $250 million Cayman Islands private equity fund and a parallel U.S. private equity fund, organized to permit investors in China, Hong Kong and the U.S. to invest in pre-IPO companies and real estate projects in the U.S.
• Represented a New York-based registered investment adviser firm in connection with the formation of a Cayman Islands segregated portfolio company, organized to invest in private equity, venture capital, and real estate funds, hedge funds, and other investment vehicles, and to make direct investments in private companies, real estate, public securities, and other investment assets.
• Represented a Beijing-based sponsor group in connection with formation a $500 million private equity fund organized to invest in mid-sized companies in the Peoples Republic of China, including formation of the fund, its general partner and a separate management company as Cayman Islands entities, tax planning for principals resident in the U.S. and China, and offering of limited partnership interests to investors in the U.S., Europe, Asia and Africa.
• Assisted a sponsor group with the formation of China Value Access Fund, L.P., a $200 million private equity fund to invest in medium sized companies in the Peoples Republic of China, and its offering of limited partnership interests to a variety of institutional, tax- exempt, quasi-governmental and off-shore investors.
• Represented sponsor group based in Singapore in connection with formation of proposed $275 million private equity fund being formed to make investments in ASEAN region companies involved in natural resources, infrastructure and basic industry.
• Assisted an India-based investment management group with placement of interests to U.S. investors for a $250 million Mauritius fund organized to invest in India.
• Advised CMIA Capital Partners on formation of
  • WL Asia IPO Ventures II Limited, a British Virgin Islands private equity fund focused on growth capital investments in the People’s Republic of China; and
  • CMIA China Fund III L.P., and Cayman Islands-based CMIA China Fund IV, L.P. funds exempted limited partnership focused on growth capital investments in the People’s Republic of China.
• Formed a $250 million off-shore hedge fund with a master-feeder structure for Hong Kong – based Orchid Asia Group, to make equity investments in small companies listed in public equity markets throughout the world.

INVESTOR REPRESENTATIONS

• Represented affiliates of a not-for-profit health and life insurer in connection with numerous LP investments and co-investments in PE sponsor-led LBOs.
• Represented a U.S. faith-based organization, with substantial endowment assets, in connection with $20 million investment in a U.S.-based real estate fund, and a $25 million investment in a second U.S. - based real estate fund.
• Represented the finance arm of a Fortune 100 corporation in connection with investments of $5 million to $15 million in a variety of U.S. private equity, venture capital and mezzanine funds.
• Represented an investment agency based in the Middle East in connection with an investment of JPY50 billion as a limited partner in daVinci Japan Real Estate Partners IV, L.P.
• Represented a member of a Middle Eastern royal family in connection with an investment as a limited partner in Thayer Street Partners Equity Opportunity Fund, LP, a private equity fund focusing on technology-enabled business and financial services companies.
• Represented a Native American Indian tribe in connection with an investment as a limited partner in a $300 million Cayman Islands private equity fund organized by a U.S. sponsor focusing on buyout and growth equity investments in lower middle market companies in the U.S., U.K. and China.
• Represented a New York-based, multi-billion dollar family office in connection with an investment as a limited partner in Trident VI Parallel Fund, L.P., a $4.5 billion private equity fund focused on investing in financial services companies.