VLP provides end-to-end counsel on fund formation, including the design and implementation of fund structures tailored to investment strategy, investor base, and regulatory considerations.

• Advising on entity type, jurisdiction, and tax treatment of GPs, Management Companies and Fund Vehicles
• Drafting and negotiating offering materials, partnership and operating agreements, subscription documents, and side letters
• Coordinating with regulatory colleagues to integrate investment adviser and securities law considerations into the fund formation process, including compliance with the Advisers Act, Investment Company Act exemptions, and applicable private placement regimes

We provide ongoing counsel to support the day-to-day operational and governance needs of sponsors and their management companies.]

• Tax, structuring, and governance advice for sponsor management company entities
• Maintenance and operation of carried interest sharing plans and estate planning for founders and senior personnel
• LPAC approvals, LP votes, and investment period/fund term extensions
• Ongoing SEC compliance, reporting, and filing obligations
• Advisers Act conflict matters, ERA/RIA registration, and establishment of compliance programs
• Managing LP transfer activity

VLP advises investors on all aspects of their private investments and businesses, including primary investments and direct/indirect co-investments, anchor investing, separately managed accounts, and funds-of-one.

• Representation on primary fund investments and direct/indirect co-investments
• Side letter and LPA negotiations
• Separate accounts and fund of one representation
• Subscription document review and completion