Press Release 08.15.17
Our lawyers regularly represent institutional investors such as public and private pension funds, investment companies, asset managers, insurance companies, universities and banks regarding all aspects of their investment programs, from relationships with investment advisers and investment agreements of all types to alternatives, including as investors in private equity funds, venture capital funds, hedge funds, infrastructure funds, real estate funds and fund of funds.
Fund Formation, Structuring and Documentation
Pillsbury lawyers regularly represent sponsors and investors in forming investment funds including private equity funds, funds of funds, and other types of alternative and complex funds. We also advise on the structuring and documentation of portfolio company, portfolio fund and other investments and divestment transactions. We provide on-going counseling regarding fund operations and relationship with investors.
Private Equity Funds
Pillsbury represents U.S. and non-U.S. managers, general partners and sponsors of private equity funds offered in the U.S. and worldwide, and has experience providing strategic guidance on key business and legal issues involved in fund formation and the offering of interests to U.S. and non-U.S. investors. Our lawyers actively participate in negotiations between fund sponsors, managers, general partners and investors, and possess deep state-of-the-market knowledge and tax structuring experience.
Fund Management and Operations
We provide counsel regarding a variety of matters over the life of a fund, including changes in key personnel, management compensation and tax issues, transfers of fund interests, credit arrangements for short-term funding, reduction of litigation risk, commitment defaults and related issues, commitment period extensions and dissolution proceedings.
Mergers and Acquisitions
Our Private Equity team represents funds and other clients in negotiated and non-negotiated domestic and cross-border M&A transactions involving public and private companies; joint ventures and strategic alliances; going-private transactions; privatizations; and leveraged buyouts. Our experience also includes advising clients on the acquisition and disposition of financially distressed assets and businesses, both in and out of bankruptcy proceedings.
We have worked extensively on leveraged buyout transactions, including those led by management and have represented private equity funds, industry equity investors, management teams, companies and special board committees, banks and other lenders in leveraged buyout transactions. Our lawyers have also advised on the sale of significant divisions in leveraged buyout transactions.
The range of industry participants we counsel and their particularly demanding transactions distinguish our practice. We have extensive experience in structuring and advising on investments in alternative asset classes and we are at the forefront of precedent-creating deals. Our alternative investments clients include providers and users of institutional capital, including private investment fund and funds-of-funds managers; investment advisers; public and private pensions; financial institutions; endowed private institutions; and serial entrepreneurs.
Represented Asia Alternatives in connection with $1.8 billion in capital commitments to form Asia Alternatives Capital Partners IV, LP and its related fund vehicles.
Represented California Public Employees’ Retirement System (CalPERS) in a series of secondary transactions involving the sale of over 100 private equity partnerships with over $4 billion in net asset value.
Represented multibillion-dollar investment adviser in connection with privately negotiated pre-IPO co-investment in Alibaba.
Our Private Equity practice is diverse. Pillsbury lawyers represent all major constituencies in private equity and our firm maintains a substantial commitment to women and minority-owned emerging managers of private equity, real estate and funds of funds.
Represented IC Berkeley in connection with formation of IC Berkeley Partners III, L.P. to invest in industrial properties in the United States.
Representing a fund manager in connection with formation and maintenance of a venture capital fund focused opportunistically on gastronomic ventures.