Exit this way: no.1 — closed-ended fund exits
By Deborah Lloyd
The issue of fund exits is currently a hot topic. 176 funds are terminating between 2012 and 2016, with a total GAV of €68.6bn (£55.9bn) (from INREV [European Association for Investors in Non Listed Real Estate Vehicles]: Fund Trends Survey 2013). This is a new area for many fund managers and investors to experience. Managing investor expectation throughout this process has been a challenge for some fund managers.
This is the first in a series of three briefings. This briefing covers the typical issues for exiting a closed-ended fund. Briefing two will look at open-ended funds. Briefing three touches on some more general issues applicable to all types of funds.
Closed-ended funds have a fixed end date. The term of a closed-ended fund will be set to tie in with the investment strategy of the fund. As part of the investment strategy, a fund manager will have a plan as to how it intends to create returns from the assets of the funds and when those assets should be sold to achieve those returns. Generally, a private equity real-estate fund has a fixed life of between seven and 10 years…
Click on the link below to read the rest of the Nabarro briefing.
News from Nabarro
News from The Lawyer
Briefings from Nabarro
How might future UK infrastructure investment decisions be influenced by Crossrail?
At 08:45 on 24 July, after eight years of planning, sports at the Glasgow 2014 Commonwealth Games kicked off with lawn bowls.
Analysis from The Lawyer
Nabarro senior partner and self-confessed “IT geek” Graham Stedman is heralding a major set of investments in technology ahead of the firm’s move to 125 London Wall this year.
Clients are more willing to bring claims against professional service providers but the risk to defendants is not as dramatic as it might seem