Private Funds

Morrison Foerster is a fund formation leader

The formation of private funds is complex and highly specialized. Both fund sponsors and institutional investors recognize our global Private Funds Group as leading counsel in this field. We represent fund sponsors and investors in the formation and operation of investment funds of all strategies, including:

• Buyout
• Venture capital, growth capital and private equity
• Distressed, turnaround and special situations
• Real estate and real asset
• Infrastructure
• Credit and private debt
• Hedge
• Fund-of-funds

We guide both GPs and LPs effectively through the entire fund formation process. We advise on structural, regulatory, and tax issues, as well as economic terms and fund governance matters. We also advise fund sponsors on fundraising issues and “upper tier” structure and planning, including complex international carried interest, co-investment programs and other incentive arrangements. On the LP side we advise a number of institutional investors on all of their primary and secondary fund investments, as well as co-investments and direct investments. 

We know what’s “market”

We are active players in fund formation transactions. In just the last five years, we have advised fund sponsors and institutional investors in hundreds of funds involving hundreds of billions of dollars in committed capital. Our ongoing involvement in fund formation keeps us on the forefront of constantly evolving deal terms and industry trends. Our market awareness provides our GP and LP clients with significant negotiating advantages in the fund formation process.