Management Agreement Drafting for a Private Equity Fund

Summary

This practice note discusses effective documentation of the management fee and other provisions commonly included in a private equity fund's management agreement, and accompanies the template Management Agreement for a Private Equity Fund. The management agreement (or investment management agreement) for a private equity fund, whether stand-alone, or incorporated into a fund's limited partnership agreement or other organizational document, contains important concepts required to launch a private equity fund. The management agreement is a binding legal agreement, generally between the fund's general partner on behalf of the fund, and the fund's investment manager (also called the manager).