On Wednesday, January 21st, Upwelling partners Joncarlo Mark and Eric Green joined ReedSmith LLP partners Ed Klees and Brendan Gallen in webinar titled, “GP Removal in Investment Funds.”
The discussion provided an overview of the GP removal process, as well as reasons why an LP would pursue a replacement situation. Key points included the following:
- Understanding fund formation and language prior to committing capital
- GP removal provisions available to LPs, including “for cause” and “no-fault” mechanisms
- Common drivers of GP transitions: fund performance, team attrition, lack of reporting, malfeasance
- The role of specialist advisors in navigating complex or unique fund situations, including solutions short of a replacement
- Importance of active participation on a fund’s LPAC and reading fund reports
To watch the recording and view the webinar slides, click and register here.
