[Consulting] Legal advisory for GP registration for the use of agency-exclusive PEF.
Article posted in 2022-04-14 18:17:30 | VEAT
Law firm Veat provided legal advisory services related to GP registration for the operation of institutional-exclusive PEFs upon receiving a request from A Investment Corp.
A Investment Corp. needed to prepare relevant documents to register a GP for institutional-exclusive PEFs in accordance with the amended Investment Trust Act.
In this regard, Law firm Veat prepared documents for registration as a GP capable of operating institutional-exclusive PEFs, considering that the “Act on Capital Markets and Investment Securities” had been amended, leading to a reorganization of the classification of private equity funds from management-participation type PEFs to institutional-exclusive PEFs, and particularly, considering changes to the personnel requirements that a GP must possess, Law firm Veat reviewed whether A Investment Corp. could meet the personnel requirements.
On October 21, 2021, the revised “Act on Capital Markets and Investment Securities” was implemented. Institutional-exclusive private equity funds are private equity funds in which investors are restricted to invest, considering expertise and risk management capabilities, and institutional-exclusive private equity funds can be established and operated by a non-financial investment company (GP).
According to the amended Investment Trust Act, all existing management-participation private equity funds will become institutional-exclusive private equity funds, but the operating methods will be applied differently depending on the fulfillment of the requirements of a limited liability company member.
Therefore, if you are currently managing a management-participation private equity fund or will be managing a newly established institutional-exclusive private equity fund, it is necessary to seek help from experts with extensive advisory experience in relation to the requirements under the amended Investment Trust Act.
Law firm Veat is assisting you in complying with the amended Investment Trust Act based on its extensive experience in PEFs and GP registrations. If you need legal advisory services related to management-participation private equity funds, institutional-exclusive private equity funds, and registration of an operating company GP, please contact Law firm Veat at any time.
Thank you.
Law firm Veat