- Management Fee
- GP Commitment
- Carried Interest Overview
- Carried Interest – Preferred Return and GP Catchup
- GP Clawback
- Management Fee Offsets
- No Fault Divorce
- For Cause Actions
- Should Venture Capital Funds have a Preferred Return Hurdle?
When an LP invests in a fund, it is because the LP believes that the investment team will successfully invest the fund. But what happens if members of that investment team leave the firm in the midst of investing? What happens if a key member of the team dies, or is convicted of securities fraud? A “key person” clause (historically known as a “key man” clause) provides LPs with protections in case these events, and others, occur.
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