Baker Botts has a substantial and growing practice representing sponsors of and investors in private equity funds. Our lawyers work with leveraged buyout funds, venture capital funds, real estate funds, sector funds, family offices, funds of funds and hedge funds. We structure funds to accommodate the differing needs of all types of U.S. and non-U.S. investors, including private pension plans, state and local pension plans, foundations, university endowments, bank holding companies, insurance companies, and other taxable and non-taxable institutional investors and individuals. We advise fund sponsors in fund formation and structure and in the solicitation of prospective investors on a worldwide basis.
Our work for private equity funds involves consultation on and consideration of federal and local income tax issues in structuring the funds and their investments, federal and state securities laws applicable to the funds' efforts to raise equity investments and the activities of the funds and their managers, issues related to compensating fund managers, structuring the entities for various foreign and domestic investments by the funds, and the numerous other general legal concerns that arise in any operating business. We have consulted on matters respecting the current trend toward increased public disclosures by funds that include government investors.
We are also familiar with existing and developing market terms for private equity funds, enabling us to provide advice from the earliest stage of concept development through the maturity and launch of a new fund.
Our multidisciplinary approach to the private equity fund practice allows us to develop and maintain the critical resources and knowledge required to advise on the wide range of topics necessary to support this practice. Corporate, finance, tax and ERISA lawyers work together to advise sponsors on fund formation and management and investment execution. These teams have significant fund and other private equity experience as well as a wealth of experience in related practice areas, such as mergers and acquisitions, securities, project development, finance and real estate. This combination of experience gives us the ability to fashion creative solutions to the problems facing fund sponsors in constantly changing markets.
Our involvement in the private equity market is spread across five U.S. offices, one European office and one Asian office – Austin, Dallas, Hong Kong, Houston, New York, Washington and London. This geographic diversification provides a depth of experience in different industries and markets that allows us to serve the needs of our clients.
Experience
- Representation of Alerian Capital Partners LP in its investment in energy-related funds
- Representation of Red Technology Alliance LLC in its sponsorship of oil and gas exploration and development related funds
- Representation of Scout Fund in its sponsorship of real estate funds
- Representation of Siguler Guff & Company, LLC, in its sponsorship of Russia Partners II, LP, a Russian investment fund whose participants include the Overseas Private Investment Corporation (OPIC), the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC)
- Representation of Hines and other sponsors of real estate funds, including funds with both a U.S. and an international focus
- Representation of Accenture in its sponsorship of Accenture Technology Partners, a worldwide venture capital fund
- Representation of Energy Spectrum in its sponsorship of a family of funds that invest in midstream and other energy-related projects
- Representation of Friedman Billings Ramsey Group, Inc., in its sponsorship of the Pegasus fund of hedge funds
- Representation of Energy Trust in its sponsorship of a family of funds that invest in oil and gas exploration and production projects
- Representation of Sentinel Trust Company in its sponsorship of several funds of funds
- Representations in which various funds made or disposed of portfolio investments in a variety of industries