Restructuring Your Way to a New Tomorrow: The Emerging Trend of “Stapled Secondary” Private Equity Fund Restructurings
Lexis Practice Advisor Journal recently published an article authored by Troutman Sanders partner John McDonald entitled Restructuring Your Way to a New Tomorrow: The Emerging Trend of “Stapled Secondary” Private Equity Fund Restructurings. The article discusses some common deal terms for the restructurings, in which private equity sponsors obtain capital from new LP investors who, as part of the process, also acquire LP interests from existing fund investors, and outlines some best practices for sponsors to use to help avoid SEC scrutiny.