Historically and currently, private equity funds have a 10-year life with the option for the general partner (usually with some form of investor or advisory board consent) to extend the fund by two or three additional one-year periods. In practice however, private equity funds have lasted longer than this with a typical fund potentially lasting for 15 years or more before final wind up and liquidation. Goodwin Private Equity and Private Investment Funds lawyers Michael Halford and Brian O’Neill discuss secondary transactions. Read the by-line in Private Equity Wire here.
In The Press June 04, 2020