GP TRANSITIONS
The Process
1. Assessment
NDA execution and document collection. Outline removal mechanics and voting thresholds. Analyze GP compliance with limited partnership agreement including fees, expenses & carried interest. Review fund term and extension timelines
2. Replacement
Organize LP syndicate to trigger removal clause, target collaborative process with outgoing GP, execute replacement
3. Execution
Assume full fiduciary control, present action plan and updated valuations to the LPs, actively manage portfolio to maximize value and create liquidity, target fund resolution typically within 24-36 months
