Term Sheet for a Private Equity Fund

Summary

This term sheet template is to be used when forming and marketing a private equity fund. The term sheet often contains the identical information as the "Summary of Material Terms" located at the front of the private placement memorandum (PPM). This template contains practical guidance and drafting notes. Like the PPM, a preliminary term sheet is used to market the PE Fund and is not a legally binding agreement. It is common for numerous iterations of the term sheet to be circulated internally and to outside counsel (and even, in some cases, to key investors) prior to being finalized. Once finalized, the term sheet should be consistent with both the PPM and the partnership agreement. For a full listing of related first year associate investment management content, see First Year Associate Resource Kit: Investment Management. For a full listing of related private equity fund formation content, see Private Equity Fund Formation Resource Kit. For a full listing of related summer associate investment management content, see Summer Associate Resource Kit: Investment Management. For further guidance, see Term Sheet Drafting for a Private Equity Fund. See also templates Subscription Agreement for a Private Equity Fund, Limited Partnership Agreement for a Private Equity Fund, Management Agreement for a Private Equity Fund, and Side Letter for a Private Equity Fund.