Investor Remedies

Summary

This practice note guides the counsel to a limited partner in a private equity fund through the typical investor remedies for events such as fund underperformance, potential conflicts of interest between the fund and the general partner, the death or disability of a "key person," disputes or disagreements among the fund's principals or allegations or findings of fraud, gross negligence and willful misconduct by the general partner. These remedy provisions tend to be highly negotiated terms in the limited partnership agreement. Remedies may include key person provisions, termination and removal rights, informational rights and others.