Private equity: the Legal Aspects

This programme is designed to provide a comprehensive overview of the legal framework governing private equity transactions, fund formation, regulatory issues, deal structuring, and emerging trends. Emphasis is placed on understanding the regulatory environment, drafting and negotiating transaction documents, and analysing recent case studies and emerging trends in the industry.

By the end of the course, students will be able to:

• Understand the structure and evolution of private equity funds.
• Analyze the legal and regulatory framework governing private equity transactions.
• Draft, review, and negotiate key legal documents including partnership agreements and investment contracts.
• Assess the legal risks and compliance issues associated with private equity investments.

  Programme Outline

Module 1: Introduction to Private Equity
• Overview of private equity: history, market participants, and industry trends.
• Key differences between private equity and other forms of investment.

Module 2: Fund Formation and Structure
• Types of funds (limited partnerships, limited liability companies, etc.).
• Fund formation documents and key provisions.

Module 3: Regulatory Framework
• Securities laws, private placement exemptions, and disclosure requirements.
• Role of regulatory bodies in private equity.
• Reading: Relevant sections of securities law and regulatory commentaries.

Module 4: Investment Process and Due Diligence
• Stages of the investment process.
• Due diligence essentials: legal, financial, and operational aspects.

Module 5: Deal Structuring and Negotiation
• Term sheets, valuation methods, and structuring transaction terms.
• Negotiating key deal terms and drafting investment documents.

Module 6: Financing and Capital Structure
• Arranging financing: debt vs. equity, capital calls, and waterfall provisions.
• Understanding investor rights and obligations.