In today's challenging fundraising landscape, general partners (GPs) and limited partners (LPs) are navigating evolving dynamics and seeking alternative approaches. Hosts Greg Norman and Abby Reeves are joined by guest Will Adams to explore the current fundraising environment and its impact on the relationship between general partners (GPs) and limited partners (LPs). They discuss the challenges GPs face in finding suitable exits, the increasing demand for customized investment products and the evolving landscape of investment structures such as separately managed accounts (SMAs) and co-investments. 

Name: Will Adams

Title: Associate, Investment Management at Skadden (London)

Specialty: Will is a member of Skadden’s Investment Management Group in London, which represents sponsor and investor clients in a range of investment management activities across the globe.

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Name: Greg Norman

Title: Partner, Investment Management at Skadden (London)

Specialty: Greg’s practice focuses on advising private capital businesses on their formation and operations. His work includes private fund capitalization and structuring, as well as the formation and regulation of private capital sponsors, including investment managers and advisers. In addition, he counsels on incentive compensation arrangements, internal governance arrangements and regulatory compliance.

Connect: LinkedIn

Name: Abby Reeves

Title: Associate, Financial Institutions; Investment Management at Skadden (London)

Specialty: Abby focuses her practice on advising financial institutions, including asset managers, financial sponsors, banks and insurance companies, on their regulatory obligations, internal governance and compliance arrangements. She also has experience working for fund managers and investors on the formulation, structuring and marketing of investment funds.

Connect: LinkedIn

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The Preferred Return is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.

Environmental, social and governance (ESG) issues have been front of mind for fund managers, particularly due to recent legislative changes, often focused on disclosure. On the latest episode of “The Preferred Return” co-hosts Greg Norman and Abigail Reeves guide managers through some of the ESG considerations that need to be taken into account when marketing a fund in the U.K. or EU.

Name: Greg Norman

Title: Partner, Investment Management at Skadden (London)

Specialty: Greg’s practice focuses on advising private capital businesses on their formation and operations. This work includes private fund capitalization and structuring, as well as the formation and regulation of private capital sponsors, including investment managers and advisers. In addition, he counsels on incentive compensation arrangements, internal governance arrangements and regulatory compliance.

Connect: LinkedIn

Name: Abigail Reeves

Title: Associate, Financial Institutions; Investment Management at Skadden (London)

Specialty: Abigail focuses her practice on advising financial institutions, including asset managers, financial sponsors, banks and insurance companies, on their regulatory obligations, internal governance and compliance arrangements. She also has experience working for fund managers and investors on the formulation, structuring and marketing of investment funds.

Connect: LinkedIn

☑️ Follow us on X and LinkedIn.

☑️ Subscribe to The Preferred Return on Apple Podcasts, Spotify, or your favorite podcast app.

The Preferred Return is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.

In April 2024, the EU’s Alternative Investment Fund Managers Directive received its most significant legislative update since it was first adopted in 2011.

In this episode of “The Preferred Return” podcast, Skadden attorneys Greg Norman and Abigail Reeves provide an overview of AIFMD II, including the original drivers behind AIFMD, new disclosure requirements for alternative investment funds in the EU and new regulations related to loan origination.

Tune in as Greg and Abigail provide a overview of how the rules will impact fund managers’ operating models.

Name: Greg Norman

Title: Partner, Investment Management at Skadden (London)

Specialty: Greg’s practice focuses on advising private capital businesses on their formation and operations. This work includes private fund capitalization and structuring, as well as the formation and regulation of private capital sponsors, including investment managers and advisers. In addition, he counsels on incentive compensation arrangements, internal governance arrangements and regulatory compliance.

Connect: LinkedIn

Name: Abigail Reeves

Title: Associate, Financial Institutions; Investment Management at Skadden (London)

Specialty: Abigail focuses her practice on advising financial institutions, including asset managers, financial sponsors, banks and insurance companies, on their regulatory obligations, internal governance and compliance arrangements. She also has experience working for fund managers and investors on the formulation, structuring and marketing of investment funds.

Connect: LinkedIn

☑️ Follow us on Twitter & LinkedIn.

☑️ Subscribe to The Preferred Return on Apple Podcasts, Spotify, or your favorite podcast app.

The Preferred Return is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.

Beyond marketing a fund, which we spotlighted in our last episode, there are other issues that founders of a new fund business need to consider. 

In this episode of “The Preferred Return” podcast, Skadden attorneys Greg Norman and Abigail Reeves focus on critical considerations for first-time fund managers. They highlight the importance of a broad team, including investment professionals and individuals with skill sets in operations, tax, legal and regulatory compliance, and potentially risk management. They also discuss the significant role of governance, fund structuring and remuneration considerations. The episode concludes with insights into the importance of partnering with key service providers to be successful.

Name: Greg Norman

Title: Partner, Investment Management at Skadden (London)

Specialty: Greg’s practice focuses on advising private capital businesses on their formation and operations. This work includes private fund capitalization and structuring, as well as the formation and regulation of private capital sponsors, including investment managers and advisers. In addition, Mr. Norman counsels on incentive compensation arrangements, internal governance arrangements and regulatory compliance.

Connect: LinkedIn

Name: Abigail Reeves

Title: Associate, Financial Institutions; Investment Management at Skadden (London)

Specialty: Abigail focuses her practice on advising financial institutions, including asset managers, financial sponsors, banks and insurance companies, on their regulatory obligations, internal governance and compliance arrangements. She also has experience working for fund managers and investors on the formulation, structuring and marketing of investment funds.

Connect: LinkedIn

☑️ Follow us on Twitter & LinkedIn.

☑️ Subscribe to The Preferred Return on Apple Podcasts, Spotify, or your favorite podcast app.

The Preferred Return is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.

In this premiere episode of "The Preferred Return" podcast, Skadden attorneys Greg Norman and Abigail Reeves dive into the complexities of marketing private funds in the U.K. and Europe under the regulations of the Alternative Investment Fund Managers Directive (AIFMD). They discuss the impact of AIFMD on EU and non-EU funds, the process and regulations surrounding the marketing passport, the role of national private placement regimes, and ongoing requirements after registering a fund for marketing. The episode highlights the regulatory complexities fund managers face when marketing in Europe, emphasizing the importance of jurisdiction-specific advice.

Name: Greg Norman

Title: Partner, Investment Management at Skadden (London)

Specialty: Greg’s practice focuses on advising private capital businesses on their formation and operations. This work includes private fund capitalization and structuring, as well as the formation and regulation of private capital sponsors, including investment managers and advisers. In addition, Mr. Norman counsels on incentive compensation arrangements, internal governance arrangements and regulatory compliance.

Connect: LinkedIn

Name: Abigail Reeves

Title: Associate, Financial Institutions; Investment Management at Skadden (London)

Specialty: Abigail focuses her practice on advising financial institutions, including asset managers, financial sponsors, banks and insurance companies, on their regulatory obligations, internal governance and compliance arrangements. She also has experience working for fund managers and investors on the formulation, structuring and marketing of investment funds.

Connect: LinkedIn

☑️ Follow us on Twitter & LinkedIn.

☑️ Subscribe to The Preferred Return on Apple Podcasts, Spotify, or your favorite podcast app.

The Preferred Return is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.

From Skadden, The Preferred Return is a podcast covering critical investment management issues in the U.K. and Europe for corporate counsel, business decision-makers and compliance professionals. We provide sophisticated, timely and accessible updates on the latest legal and regulatory developments in the asset management space, one episode at a time.

Disclaimer

The Preferred Return is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.