MJ Hudson assists ILPA in drafting LPA
Edyta Brozyniak, Partner in MJ Hudson’s Law team, was a part of the task force of 20 lawyers involved in drafting a model limited partnership agreement for the Institutional Limited Partners Association (ILPA) which had been undertaken as part of the efforts to standardise the terms of the fund agreements, align the interests of the LPs and the managers, and lower the establishment costs.
The limited partnership agreement featuring a “whole-of-fund” waterfall was released in October 2019, and followed later in July of this year by a release of the model limited partnership agreement with a “deal-by-deal” waterfall.
Edyta also drafted an accompanying summary of terms based on each model LPA which can serve as an overview of the model LPA terms and a starting point in the fund raising negotiations.
“It was a great privilege to be involved in this project which will hopefully make the investment landscape fairer and more transparent for the LPs.”