The Advantages of Selling

For General Partners

• Providing a strategic exit for older funds, allowing the GP to focus attention on new and larger funds and investments
• Reducing the administrative burden of managing older funds and LP relationships
• Extending the life of a fund through a tender offer or restructuring
• Accelerated realization for portfolio companies
• Providing restructuring solutions, including
  • Modified partnership economics
  • Change in management composition
• Additional funding to support portfolio companies

For Limited Partners

• Achieving liquidity for investments before the end of the life of a fund
• Eliminating the administrative burden of holding older funds with limited remaining value
• Redeploying capital to more strategic investments
• Correcting over-allocation issues
• Meeting regulatory requirements

For Corporate Venture Programs

• Spinning out investment team
• Redeploying capital to more strategic investments
• Unlocking value of illiquid holdings
• Eliminating funding obligations
• Reducing earnings volatility
• Reducing financial reporting and regulatory exposure