Day Pitney Institutional Investor Team Represents a State Investment Division in $200 Million Investment in a Private Equity Fund

In October 2023, Day Pitney represented a state pension system client in connection with a $200 million investment in a $20 billion private equity fund, and its accompanying co-investment vehicle, focused on acquiring, operating and disposing of financing, software, data and technology-enabled businesses. The Day Pitney Institutional Investor team, consisting of Peter Bilfield, Shant Chalian, Mike Cummings, Lydia Lee, Tim Spiegel, Joty Mondal, and Kim Morabito, with U.S. tax assistance from Justin Hannan, Megan Ferris, and Emily Byrnes, negotiated the terms of the amended and restated limited partnership agreement and side letters, securities, tax and partnership opinions, subscription agreements and advised the client on all aspects of the investment, including negotiating policy/excuse provisions, disclosure obligations, and most favored nation, indemnification/exculpation, and general partner removal provisions.