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Legal Documents Chicago (August)

The ILPA Institute Level II Legal Documents program is an interactive course that incorporates lecture, modeling, and negotiation exercises to enhance participants’ understanding of the limited partnership agreement and other material agreements. The balanced lecture format incorporates current, relevant, and practical information with usable tools and takeaways. The complexity behind standard terms will be examined and discussed, highlighting how the terms are interrelated and how ‘reasonableness checks’ can be performed.

Course Date and Fees

Member Early bird rate: $1,499
Member rate: $1,999
Non-Member rate: $3,499

 

Course Overview

Participants will gain a deeper understanding of limited partnership agreements and other documents that govern and/or affect private equity limited partnerships and the interconnected nature of these documents. Furthermore, participants will be able to identify the more salient terms of these documents and use lessons and exercises to negotiate terms that are practical, inclusive of best practices and comprehensive in nature.

Key Learning Objectives

  • Describe the core legal documentation and typical structure and jurisdictions utilized in private equity and the core differences related thereto.
  • Obtain and apply an in-depth understanding of the limited partnership agreement, its economic and non-economic terms and their interrelated nature.
  • Identify key issues that arise in other material agreements and describe ways to approach those issues.
  • Use lessons and exercises to review limited partnership agreements and other documents in a comprehensive manner and negotiate key terms in line with best practices while recognizing document and term interconnectedness and traditional GP responses to issues.

PROGRAM LEVEL: Advanced

WHO SHOULD ATTEND: Experienced investment professionals working at many different organization types can benefit from the Level II program. Past participants have included representatives from public and corporate pension funds, family offices, foundations, endowments, insurance companies and government organizations who are investing or considering investing in private equity.

PRE-REQUISITE: Three or more years of experience directly managing and monitoring a private equity program. Applicants with less than 3 years of experience are required to have completed the ILPA Institute Level I program and submit a letter of endorsement on company letterhead (sample letter available here). The letter of endorsement will establish that the applicant exhibits managerial and leadership potential. They must also demonstrate a level of professional poise and financial acumen necessary to contribute to a senior learning environment. Candidates will be accepted based on availability and subject to ILPA review. As the role of legal counsel does not traditionally include directly managing and monitoring a private equity program, exception will be made for internal legal counsel registrants based on having an acceptable amount of experience in the private equity industry.

PRE-READING: Reading materials will be sent to participants prior to the start of the session. These will include 2-3 hours of course preparation and required reading as well as suggested readings.

DELIVERY METHOD: Group-Live

CREDIT: 16.5 CPE Credits / This course is pending approval by the Bar for CLE Credits

CPE Sponsors logo

Institutional Limited Partners Association is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org

CLE Accreditation

The ILPA does not have Approved Provider status to issue CLE credits directly. In order to receive CLE credits for applicable programs, members are responsible for filing for their CLE accreditation directly with their state/provincial CLE authority.

Each State/Province rewards CLE credit hours differently and have varying approval guidelines, therefore, it is best to consult your jurisdiction to confirm what is required for you to submit. ILPA is pleased to provide you with any supporting documentation needed during your filing process, please click here to be directed to your jurisdiction's CLE governing office website.

Details

Start:
August 24, 2020 - August 25, 2020
Event Categories:
ILPA Institute, North America

Organizer

Name:
ILPA

Venue

Gleacher Center
450 N Cityfront Plaza Dr, Chicago, IL 60611 United States
+ Google Map
Phone:
+1 312-464-8787

Gleacher Center, 450 North Cityfront Plaza Drive, Chicago, IL, 60611

Classes will be held at the Gleacher Center, located at 450 North Cityfront Plaza Drive, along the Chicago River (one block east of Michigan Avenue). The Center is in the heart of “The Magnificent Mile” in downtown Chicago, and within walking distance of some of the city’s most exciting retail and entertainment areas.

David Parrish

Partner, DLA Piper

David B. Parrish’s practice primarily focuses on representing investors in reviewing and negotiating alternative investment documentation (including limited partnership agreements, subscription agreements, and private placement memoranda) and in negotiating and preparing of side letters. David is also experienced in co-investments and secondary market transactions, advisory board matters, general partner removal transactions and fund dissolution matters. His experience in alternative investments includes hedge funds, fund of funds, real estate funds, buy-out funds, venture capital funds, credit funds and infrastructure funds and he has experience dealing with Investment Company Act and Investment Advisers Act matters. David received his B.A. degree, with honors, in Political Science from the University of Texas – El Paso. He received his J.D. degree, summa cum laude, from the University of Houston Law Center.

Linda Pells Calnan, Houston Firefighters’ Relief and Retirement Fund,
Linda Pells Calnan, Houston Firefighters’ Relief and Retirement Fund,
“The ILPA Institute’s Level II program is truly unique as it was created specifically to fill a void in educational opportunities available to senior limited partner private equity professionals. The program’s development, working construct, and individual components have been carefully created to meet the needs of the ILPA membership. Level II will dissect the various components of an advanced private equity curriculum to provide participants with both a comprehensive and in-depth private equity course. Furthermore, each Level II module is designed by limited partners and practitioners to ensure that content is timely, practical, hands-on and relevant.”(2009-2010 Education Committee Chair-ILPA)
Kimberly Woods, Senior Investment Advisor, Private Equity, IAM National Pension Fund
Kimberly Woods, Senior Investment Advisor, Private Equity, IAM National Pension Fund
“ I highly recommend this course because it provided an in-depth look into the complex subject matter of legal terms and the ILPA. The course was delivered in a way that provided me with clarity and understanding. There were many practical examples given by the instructor which really helped to further my understanding of legal nuances in private equity investing.”
(2010 ILPA Institute Level II Module 1 participant)
Britta Ersman, Portfolio Manager, AP2 – Second Swedish National Pension Fund
Britta Ersman, Portfolio Manager, AP2 – Second Swedish National Pension Fund
“It was a thorough and relevant program. I found the reasonable checks, side letter discussion and negotiation exercise to be extremely practical. It was an eye opener for all the documents I encounter daily and provided valuable takeaways that can be used and referenced back in the office.”
(2010 ILPA Institute Level II Module 1 participant)
Rasmus Bessing, Associate General Counsel, PFA Pension
Rasmus Bessing, Associate General Counsel, PFA Pension
“I have been looking for an educational program like this for a long time. The material was comprehensive and provided valuable insight for me as a non-US lawyer; I will continue to use the takeaways as a reference guide and would highly recommend this program.”
(2011 ILPA Institute Level II Module 1 participant)
 Jonathan Koerner, Assistant Investment Counsel, Utah Retirement Systems
Jonathan Koerner, Assistant Investment Counsel, Utah Retirement Systems
“This module accurately covers nearly every hot topic we’re facing in today’s private equity and alternative fund environment – from practical and in-depth perspectives. The lectures, discussions, activities and materials provide insight and valuable tools for either counsel or the investment executive.”
(2012 ILPA Institute Level II Module 1 participant)
Maggie Radford, CFO & COO, Bonanza Oil Company
Maggie Radford, CFO & COO, Bonanza Oil Company
“The course was well planned, executed and managed; it was definitely a good use of my time. The content was detailed and immediately applicable to my job. After having a few days to reflect on the material and discussions, I am looking forward to an in-depth review of my most recent commitments to see how the documents stack up to the expectations for LP agreements that I now have post-seminar.”
(2012 ILPA Institute Level II Module 1 participant)