January, 2013 - The PEI Media Group Ltd. has published a new book on limited partnership agreements featuring contributions from 17 Proskauer corporate and tax lawyers in the firm’s Private Investment Funds group in Boston, London and New York. The book – The LPA Anatomised – is a first-of-its kind publication, addressing the needs of general partners, limited partners, placement agents, lawyers, fund administrators, accountants and tax advisers.
Edited by Proskauer London partner Nigel van Zyl, the book explores the complexities of limited partnership agreements and analyzes key fund terms in private equity, identifies their purpose and explores critical negotiating points.
“Limited partnership agreements have historically been highly confidential and protected,” said Mr. van Zyl, who has more than 12 years of experience as a legal adviser in the private equity and broader private investment funds industry. “However, the global financial crisis has created a renewed focus on current fund terms and a need for greater transparency about whether these terms actually facilitate an alignment of interest between limited and general partners.”
The 200-page book comprises 19 chapters – nine of which are written by Proskauer lawyers – covering topics ranging from regional comparisons of limited partnership agreements to tax considerations in structuring such agreements. In addition to Mr. van Zyl, the Proskauer lawyers who contributed to the publication are partners Robert Barry, Howard Beber, Ira Bogner, David Jones, Scott Jones, Mary Kuusisto, Malcolm Nicholls, Robin Painter, Oliver Rochman, Kate Simpson, David Tegeler and Jennifer Wheater and associates Gregory Dodge, Rebecca Forter, Camille Higonnet and Edward Lee.
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Proskauer has announced the election of Jay C. S. Tai to partner in its Hong Kong office. "Jay is a superb lawyer who has made a significant contribution to his clients and the firm," said Joseph M. Leccese, Proskauer chairman. "As we continue to grow our Asia practice, Jay will play a leading role in helping meet the cross-border needs of our clients that are headquartered there or do business in the region. His promotion evidences the firm's continuing commitment to organic growth in our international offices."
A member of Proskauer's Corporate Department, Mr. Tai's practice focuses on private equity, mergers and acquisitions and complex corporate and commercial transactions. He has extensive experience representing regional and global private equity funds, venture capital funds, hedge funds, investment banks and strategic investors in their activities throughout Asia, with a particular focus on China. He has advised clients on deals involving a broad range of industries, including real estate, manufacturing, health care, education, telecommunications and media, and numerous jurisdictions in Asia, including China, Japan, Korea, Singapore and Malaysia.
Since joining Proskauer, Mr. Tai has led teams advising China Construction Bank International on private equity investments in various industries in China, including cleantech, consumer products and transportation, and has also advised private equity fund RRJ Capital Ltd. on its investments in Chinese companies in the biotech and consumer products industries.