Asset Management Provisions

Exploring the common provisions that allocators negotiate with Private Equity, Venture Capital and Hedge Fund Managers.

Last updated 2022-01-10 | 4.3

- You'll learn about the usual fees and provisions charged in Alternative Investments management agreements
- You'll learn about specific provisions negotiated in Private Equity
- Venture Capital
- and Hedge Funds
- You'll learn about situations regarding fund extensions
- fund restructurings
- and successor funds for closed-end funds

What you'll learn

You'll learn about the usual fees and provisions charged in Alternative Investments management agreements

You'll learn about specific provisions negotiated in Private Equity

Venture Capital

and Hedge Funds

You'll learn about situations regarding fund extensions

fund restructurings

and successor funds for closed-end funds

You'll learn about key governance provisions related to a fund

from Key-Person Events to investment mandates

LP commitees

and more

* Requirements

* You don't need any prior knowledge (knowledge of asset management will naturally help
* but is NOT required)

Description

For any Alternative Investment Fund Manager (AIFM), whether managing an open-end fund such as a Hedge Fund or a closed-end fund such as a Private Equity fund (including Venture Capital), common provisions include:
- Fees charged (including the usual management and performance fee - the "carry" in closed-end funds such as in Private Equity);
- Reporting frequency and structure;
- Fund extensions and restructurings;
- For closed-end funds, interest sales governance (for secondaries sales);
- Rules regarding capital commitments - and in the case of closed-end funds, the equalisation process;
- The role of the management team's commitment;
- Key-person events and GP team devotion;
- GP indemnification and exculpation rights;
- Rules regarding the raising of successor funds for closed-end funds;

Although many of these are usually redacted and/or verified by legal experts, it's important for any fund manager to have a basic knowledge of these provisions - both to effectively negotiate when closing new investors, but also to take into account during the fund management process.

Besides fund managers, these provisions are also important for anybody with a significant role in a fund in Alternative Investments, including associates or more senior VPs and principals that wish to one day start their own fund, or that have just been admitted into the carry vehicle and want to know more about the nuances of a fund's provisions.

Who this course is for:

You're any current (or prospective) Alternative Investment Fund Manager (AIFM), whether in Private Equity, Venture Capital or Hedge Funds
You're any current (or prospective) associate in Alternative Investment Funds (Private Equity, Venture Capital or Hedge Funds)

Course content

11 sections • 81 lectures

Introduction 2 lectures

Introduction Preview 01:39

Terminology Disclaimer Preview 00:59

Economics 15 lectures

Introduction Preview 01:34

Management and Performance Fees Preview 06:40

Management and Performance Fees Quiz

Hurdle Rates and High-Water Marks Preview 03:51

Hurdle Rates and High-Water Marks

Co-Investment Fees Preview 02:34

Co-Investment Fees Quiz

Ancillary and Hidden Fees Preview 02:55

Ancillary and Hidden Fees Quiz

Distribution Waterfalls Preview 06:05

Distribution Waterfalls Quiz

Hold Periods and Redemptions Preview 04:50

Hold Periods and Redemptions Quiz

Borrowing and Recycling Preview 02:40

Borrowing and Recycling Quiz

Strategy and Mandate 5 lectures

Introduction Preview 01:01

Objectives and Term Preview 02:18

Objectives and Term Quiz

Restrictions and Co-Investments Preview 03:09

Restrictions and Co-Investments Quiz

Commitments 7 lectures

Introduction Preview 00:49

Closings and Equalisation Preview 03:14

Closings and Equalisation Quiz

Deployment and Default Preview 02:40

Deployment and Default Quiz

Manager Commitment Preview 01:54

Manager Commitment Quiz

Structure and Governance 19 lectures

Introduction Preview 01:29

Key-Person Events and Devotion Preview 03:32

Key-Person Events and Devotion Quiz

GP Removal and Replacement Preview 03:47

GP Removal and Replacement Quiz

Indemnification and Exculpation Preview 01:42

Indemnification and Exculpation Quiz

Advisory Committee Preview 01:29

Advisory Committee Quiz

Reports and Meetings Preview 04:11

Reports and Meetings Quiz

Fund Extensions Preview 02:29

Fund Extensions Quiz

Secondaries Sales Preview 02:33

Secondaries Sales Quiz

Successor Funds Preview 02:11

Successor Funds Quiz

Fund Financing Preview 02:46

Fund Financing Quiz

Side Letter Terms 5 lectures

Introduction Preview 00:41

Bespoke Terms Preview 02:16

Bespoke Terms Quiz

Most-Favored Nations (MFN) Clauses Preview 02:38

Most-Favored Nations (MFN) Clauses Quiz

Outro 1 lectures

Outro Preview 01:11

Sampler: Fundamentals of HFs 6 lectures

Intro Preview 00:20

Fundamentals of Hedge Funds is a 4-hour course covering how this type of fund works, its returns, strategies, investors and more.

If the following videos seem interesting, find the full course here:
https://www.udemy.com/course/fundamentals-of-hedge-funds/

or suggest it for Udemy Business here:
https://business-support.udemy.com/hc/requests/new?ticket_form_id=610488

(Due to changes in my equipment over time, please forgive a possible different video/audio quality in this course).

Hedge Funds vs. Alternative Assets Preview 09:17

Traders and Analysts Preview 07:40

Event-Driven Preview 07:11

Return Calculations Preview 08:04

Metrics and Indicators Preview 13:39

Sampler: Executive Presence in Institutional Fundraising/Sales 9 lectures

Intro Preview 00:19

Appearance Preview 08:40

Appearance in Institutional Fundraising/Sales Preview 01:30

Harmony Preview 07:12

Harmony in Institutional Fundraising/Sales Preview 01:27

Rigidity Preview 10:24

Rigidity in Institutional Fundraising/Sales Preview 01:43

Tension and Selectiveness Preview 07:42

Tension and Selectiveness in Institutional Fundraising/Sales Preview 01:30

Sampler: Fundamentals of PE 6 lectures

Intro Preview 00:23

Fundamentals of Private Equity is a 4-hourse containing the fundamentals of the Private Equity industry, from investments, to internal activities, to how funds work and much more.

If the following videos seem interesting, find the full course here:
https://www.udemy.com/course/private-equity-fundamentals/

or suggest it for Udemy Business here:
https://business-support.udemy.com/hc/requests/new?ticket_form_id=610488

(Due to changes in my equipment over time, please forgive a possible different video/audio quality in this course).

PE Positioning Preview 15:21

Types of Activities Preview 08:59

Inner Workings of PE Funds Preview 15:31

LBOs Preview 13:10

Standard/Bespoke Provisions Preview 12:52

Sampler: Fundamentals of PD 6 lectures

Intro Preview 00:16

Fundamentals of Private Debt is a 3-hour course covering the private debt market, including the debt instruments, investment types, as well as the fundamentals of debt itself.

If the following videos seem interesting, find the full course here:
https://www.udemy.com/course/private-debt/

or suggest it for Udemy Business here:
https://business-support.udemy.com/hc/requests/new?ticket_form_id=610488

(Due to changes in my equipment over time, please forgive a possible different video/audio quality in this course).