{"id":44262,"date":"2017-08-01T04:17:03","date_gmt":"2017-08-01T02:17:03","guid":{"rendered":"https:\/\/newserver.fyb.de\/produkt\/the-special-deal-in-the-current-fundraising-environment\/"},"modified":"2017-08-01T04:17:03","modified_gmt":"2017-08-01T02:17:03","slug":"the-special-deal-in-the-current-fundraising-environment","status":"publish","type":"product","link":"https:\/\/www.fyb.de\/en\/produkt\/the-special-deal-in-the-current-fundraising-environment\/","title":{"rendered":"The special deal in the current fundraising environment"},"content":{"rendered":"<p><strong>Sonya M. Pauls, LL.B.<\/strong>  \u2014 Attor\u00adney at Law and Part\u00adner Barris\u00adter (Lincolns Inn\/England &amp; Wales), Soli\u00adci\u00adtor (England &amp; Wales), Attor\u00adney at Law (New York) at SJ Berwin LLP, Munich and London<\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong>In the private equity sector, alter\u00adna\u00adtive invest\u00adment models and \u201cspecial deals\u201d are incre\u00adasingly being obser\u00adved in paral\u00adlel with or instead of tradi\u00adtio\u00adnal fund cons\u00adtruc\u00adtions. They are signs of an incre\u00adasingly complex and crea\u00adtive industry.<\/strong><\/p>\n<p>The current fund\u00adrai\u00adsing envi\u00adron\u00adment is charac\u00adte\u00adri\u00adzed by a strong dicho\u00adtomy of the market \u2014 a blan\u00adket cate\u00adgo\u00adriza\u00adtion as an \u201cinves\u00adtor market\u201d is simpli\u00adstic and simply inac\u00adcu\u00adrate. While mana\u00adgers with strong track records are in a nego\u00adtia\u00adtion situa\u00adtion that is often stron\u00adger than during the 2007 boom market, both econo\u00admic\u00adally and from a nego\u00adtia\u00adtion perspec\u00adtive, other mana\u00adgers are looking for alter\u00adna\u00adtive and crea\u00adtive ways to reach the target volume of the plan\u00adned fund or to secure funding for invest\u00adments (funding) on a single invest\u00adment basis. Due to the incre\u00adasing \u2014 even desi\u00adred \u2014 globa\u00adliza\u00adtion of the inves\u00adtor base, some of the most successful Euro\u00adpean fund mana\u00adgers are choo\u00adsing alter\u00adna\u00adtive invest\u00adment struc\u00adtures to allow sove\u00adreign wealth funds, certain MENA inves\u00adtors or even other stra\u00adte\u00adgi\u00adcally or econo\u00admic\u00adally inte\u00adres\u00adt\u00ading inves\u00adtors to invest. The comple\u00adxity of the current fund\u00adrai\u00adsing market defi\u00adnes an arena that requi\u00adres a deep, global under\u00adstan\u00adding of the trends and also the play\u00aders. Side cars, special deals, pledge funds and segre\u00adga\u00adted accounts are just a few examp\u00adles of the multi-face\u00adted nature of the current private equity environment.<\/p>\n<p><strong>Alter\u00adna\u00adti\u00adves to tradi\u00adtio\u00adnal&nbsp;funds<\/strong><\/p>\n<ul>\n<li><strong>Indi\u00advi\u00addual manda\u00adtes with one or more mana\u00adgers (Segre\u00adga\u00adted Account\/ Sepa\u00adra\u00adtely mana\u00adged Accounts)<\/strong><\/li>\n<\/ul>\n<p>Most fund mana\u00adgers (GP = Gene\u00adral Part\u00adner) still see the tradi\u00adtio\u00adnal fund struc\u00adture with a diver\u00adsi\u00adfied inves\u00adtor base as the desi\u00adred default invest\u00adment vehicle. Howe\u00adver, there are an incre\u00adasing number of large inves\u00adtors who are turning away from tradi\u00adtio\u00adnal forms of invest\u00adment in F0nds, prefer\u00adring instead to enter into indi\u00advi\u00addual manda\u00adtes with one or more mana\u00adgers. \u2014 These forms of invest\u00adment often have an econo\u00admic incen\u00adtive effect. Howe\u00adver, some of the more stra\u00adte\u00adgi\u00adcally moti\u00adva\u00adted inves\u00adtors also use this close invest\u00adment rela\u00adti\u00adonship to gain deeper insights into the respec\u00adtive market, deal flow or but also the invest\u00adment metho\u00addo\u00adlogy of the respec\u00adtive GP. Often, inves\u00adtors are then also gran\u00adted certain posi\u00adtive or nega\u00adtive controls \u2014 the concrete form of design, despite some market trends, of course also depends on the respec\u00adtive inves\u00adtor and&nbsp;GP.<\/p>\n","protected":false},"featured_media":41136,"comment_status":"open","ping_status":"closed","template":"","meta":{"wp_typography_post_enhancements_disabled":false},"product_brand":[],"product_cat":[2452,2536,2604],"product_tag":[2138,2152,2162,2172,2178,2183],"class_list":{"0":"post-44262","1":"product","2":"type-product","3":"status-publish","4":"has-post-thumbnail","6":"product_cat-ebook-en","7":"product_cat-sonya-m-pauls-ll-b-en","8":"product_cat-fyb-2013-en","9":"product_tag-pauls-en","10":"product_tag-sonya-m-en","11":"product_tag-track-record-en","12":"product_tag-alternative-investment-models","13":"product_tag-fundraising-environment","14":"product_tag-globalization-of-the-investor-base","15":"pa_sprache-english-3","16":"pa_sprache-german","18":"first","19":"outofstock","20":"taxable","21":"shipping-taxable","22":"purchasable","23":"product-type-variable"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The special deal in the current fundraising environment - FYB Financial Yearbook<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fyb.de\/en\/produkt\/the-special-deal-in-the-current-fundraising-environment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The special deal in the current fundraising environment - FYB Financial Yearbook\" \/>\n<meta property=\"og:description\" content=\"In the private equity sector, alternative investment models and &quot;special deals&quot; are increasingly being observed in parallel with or instead of traditional fund constructions. They are signs of an increasingly complex and creative industry. The current fundraising environment is characterized by a strong dichotomy of the market - a blanket categorization as an &quot;investor market&quot; is simplistic and simply inaccurate. While managers with strong track records are in a negotiation situation that is often stronger than during the 2007 boom market, both economically and from a negotiation perspective, other managers are looking for alternative and creative ways to reach the target volume of the planned fund or to secure funding for investments (funding) on a single investment basis. Due to the increasing - even desired - globalization of the investor base, some of the most successful European fund managers are choosing alternative investment structures to allow sovereign wealth funds, certain MENA investors or even other strategically or economically interesting investors to invest. The complexity of the current fundraising market defines an arena that requires a deep, global understanding of the trends and also the players. Side cars, special deals, pledge funds and segregated accounts are just a few examples of the multi-faceted nature of the current private equity environment. Alternatives to traditional funds  Individual mandates with one or more managers (Segregated Account\/ Separately managed Accounts) Most fund managers (GP = General Partner) still see the traditional fund structure with a diversified investor base as the desired default investment vehicle. However, there are an increasing number of large investors who are turning away from traditional forms of investment in F0nds, preferring instead to enter into individual mandates with one or more managers. - These forms of investment often have an economic incentive effect. However, some of the more strategically motivated investors also use this close investment relationship to gain deeper insights into the respective market, deal flow or but also the investment methodology of the respective GP. Often, investors are then also granted certain positive or negative controls - the concrete form of design, despite some market trends, of course also depends on the respective investor and GP.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fyb.de\/en\/produkt\/the-special-deal-in-the-current-fundraising-environment\/\" \/>\n<meta property=\"og:site_name\" content=\"FYB Financial Yearbook\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.fyb.de\/wp-content\/uploads\/2017\/07\/Pauls.png\" \/>\n\t<meta property=\"og:image:width\" content=\"334\" \/>\n\t<meta property=\"og:image:height\" content=\"298\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.fyb.de\/en\/produkt\/the-special-deal-in-the-current-fundraising-environment\/\",\"url\":\"https:\/\/www.fyb.de\/en\/produkt\/the-special-deal-in-the-current-fundraising-environment\/\",\"name\":\"The special deal in the current fundraising environment - FYB Financial Yearbook\",\"isPartOf\":{\"@id\":\"https:\/\/www.fyb.de\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.fyb.de\/en\/produkt\/the-special-deal-in-the-current-fundraising-environment\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.fyb.de\/en\/produkt\/the-special-deal-in-the-current-fundraising-environment\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2017\/07\/Pauls.png\",\"datePublished\":\"2017-08-01T02:17:03+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.fyb.de\/en\/produkt\/the-special-deal-in-the-current-fundraising-environment\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.fyb.de\/en\/produkt\/the-special-deal-in-the-current-fundraising-environment\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fyb.de\/en\/produkt\/the-special-deal-in-the-current-fundraising-environment\/#primaryimage\",\"url\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2017\/07\/Pauls.png\",\"contentUrl\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2017\/07\/Pauls.png\",\"width\":334,\"height\":298},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.fyb.de\/en\/produkt\/the-special-deal-in-the-current-fundraising-environment\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.fyb.de\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FYB Shop\",\"item\":\"https:\/\/www.fyb.de\/en\/shop\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"The special deal in the current fundraising environment\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.fyb.de\/en\/#website\",\"url\":\"https:\/\/www.fyb.de\/en\/\",\"name\":\"FYB Financial Yearbook\",\"description\":\"For Your Business\",\"publisher\":{\"@id\":\"https:\/\/www.fyb.de\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.fyb.de\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.fyb.de\/en\/#organization\",\"name\":\"FYB Financial Yearbook\",\"url\":\"https:\/\/www.fyb.de\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fyb.de\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/06\/logo.svg\",\"contentUrl\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/06\/logo.svg\",\"caption\":\"FYB Financial Yearbook\"},\"image\":{\"@id\":\"https:\/\/www.fyb.de\/en\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The special deal in the current fundraising environment - FYB Financial Yearbook","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.fyb.de\/en\/produkt\/the-special-deal-in-the-current-fundraising-environment\/","og_locale":"en_US","og_type":"article","og_title":"The special deal in the current fundraising environment - FYB Financial Yearbook","og_description":"In the private equity sector, alternative investment models and \"special deals\" are increasingly being observed in parallel with or instead of traditional fund constructions. 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