The lawyers in the Private Equity and Venture Capital practice regularly represent both the general partner and limited partners of the funds that provide private capital as well as the companies, management teams, and entrepreneurs who utilize that capital to acquire, create, and grow businesses around the globe. We cover the entire spectrum and life cycle of transactions in the private equity markets, from formation to investment to exit.
We have a substantial number of corporate transactional partners devoting all or a substantial portion of their time to private equity and venture capital transactions, positioned across the globe in leading capital markets cities in the world — from New York to London to Hong Kong — and in dynamic and rapidly growing technology centers, including Austin, Boston, Palo Alto, Research Triangle Park, and Seattle. These partners facilitate the structuring, negotiation, and execution of the full range of private equity and venture capital transactions, both domestic and cross border, undertaken by our clients in a diverse group of industries.
As a leader in the private equity and venture capital sector, our global practice has consistently been recognized by industry participants and leading trade publications. In 2011 Dow Jones Private Equity Analyst ranked our global practice sixth out of 75 law firms based on the number of private equity and venture capital deals negotiated and closed in 2010, and ninth out of 64 law firms based on the number of private equity or venture capital funds formed in 2010. Our lawyers have worked on transactions covering a broad range of industry sectors over many years and combine legal knowledge with solid business experience and judgment, along with industry know-how and contacts. The depth of our experience gives us a thorough understanding of current market practices and terms and conditions and allows us to provide value-added service to our clients. In addition, as a part of a leading global firm, our lawyers are able to draw upon the comprehensive resources of the firm to address the full scope of related regulatory, legal, and other issues that arise in today's complex transactions.
We advise both middle-market and multibillion-dollar investment funds on all aspects of fund formation, including fund documentation and sponsor equity. We draft documentation for, and are counsel to, many private equity and venture funds, hedge funds, funds of hedge funds, and the investors in these funds. We have extensive and current experience with the terms and conditions applicable to such funds. These include all types of structures for management and other fee arrangements, carried interest, clawback provisions, distribution provisions, and valuation policies. Types of fund represented include buy-outs, distressed debt, infrastructure, mezzanine, public-private investment funds, real estate, special situations, and venture capital.
In addition to representing investment funds, we represent institutional investors, including some of the largest pension funds, universities, and endowments, as well as high net-worth individuals on their private equity, venture capital, and other fund investments. On behalf of our investor clients, we have reviewed and negotiated the terms of hundreds of limited partner investments in all types of private funds. As a result, we have a broad awareness of the market for investment fund terms, including how terms are evolving in the current market, and what terms are generally acceptable to both major investors and fund sponsors.
We have extensive experience representing various special purpose investment vehicles formed under technology and economic development programs sponsored by major universities, government agencies, or nonprofit consortiums. We advise financial institutions on matters relating to the establishment, marketing, and operation of affiliated private equity funds as well as levered and unlevered employee investment funds and phantom investment programs.
We have experience representing public and private companies, merchant banks, strategic investors, venture funds, buyout funds, special opportunity funds, and management teams and their sponsors in leveraged buyouts, management buyouts, and other control transactions. We also know the ins and outs of Employee Stock Ownership Plans from a transaction perspective.
Our lawyers advise buyers, sellers, and financing sources in a broad array of domestic and cross-border transactions, including acquisitions and dispositions of entire companies and subsidiaries, leveraged buyouts, spin-offs, roll-ups, PIPEs, going-private transactions, recapitalizations, IPOs, strategic acquisitions, and joint ventures.
Our lawyers actively advise private equity funds, strategic corporate investors, underwriters, and individuals in investing, managing, and liquidating portfolios. We routinely advise in the issuance of preferred and common equity, bridge debt and other forms of private equity financing, acquisitions and disposals of portfolio companies, add-on acquisitions by portfolio companies, recapitalizations, restructurings and liquidity, and realization events, including IPOs.
We regularly represent both investors and issuers in junior capital transactions, whether structured as subordinated debt, preferred equity, or more highly structured hybrid securities. We have extensive experience with private investments in both secured and unsecured subordinated debt as well as a vast array of structured equity and convertible debt securities. We represent investment funds, bank-affiliated mezzanine groups and other institutional investors involved in mezzanine transactions, including assisting them with the negotiation and documentation of complex debt and highly structured equity and convertible securities, warrants and other equity kickers, stockholders agreements, and subordination and inter-creditor agreements.
We are involved in our mezzanine clients’ transactions from initial investment to exit, through operational issues, add-on acquisitions, debt and equity restructuring and workouts, bankruptcies, sales to strategic or financial buyers, recapitalizations, and initial public offerings.
Our PIPEs teams typically comprise lawyers across diverse practice areas including private equity, mergers and acquisitions, securities, tax, and intellectual property, among others. With our in-depth public and private equity experience, we frequently advise investors, underwriters, and issuers on both straightforward and complex PIPEs transactions. Our understanding of all sides of transactions and market deal terms allows us to assist clients in achieving their investment objectives. Our transaction experience involves varied pooled investment vehicles, including hedge funds, fund of funds, real estate funds, and mezzanine funds, among others. PrivateRaise ranked K&L Gates #5 on its list of Top 25 PIPE Issuer Law Firms based on the number of transactions completed in 2010.
We act as outside counsel to a number of fund clients’ portfolio companies. The broad range of knowledge and experience of lawyers from our firm’s global, full-service platform enables us to provide a comprehensive array of legal services to these portfolio company clients. Such advice has involved the implementation of executive compensation and employee incentive arrangements, intellectual property protection and enforcement, follow-on mergers and acquisitions and joint ventures, equity and debt financings, securities transactions, litigation, corporate governance, real estate and environmental, tax, restructurings, and other matters.
We add real value when it comes to exit strategies and investment realization. Whether advising on a sale or an IPO, we help our clients maximize investor return and manage risks. We also have a strong track record advising companies on their IPOs or other offerings, including equities, debt instruments, and hybrid securities. Our issuer engagements include all aspects of corporate planning and restructuring, preparation of registration statements and prospectuses, assistance in negotiating underwriting and placement arrangements, preparation of listing applications and requirements in the United States, United Kingdom, and Asian capital markets. In the United Kingdom, our lawyers support AIM, PLUS, OFEX, and Full List listing applications.