Legalese
For all those working in buyout, how deep / thorough is your firm in reviewing legal documentation?
I've only seen how it works at my current shop and we get pretty deep / read through everything, which I figured was normal. Though I was recently on the phone with our counsel who suggested that plenty of other sponsors don't even open docs / ask questions that often, which was incredibly surprising to me. To ensure all on the same page, I'm talking about pretty basic things like purchase agreements, MIP docs, credit agreements, etc
Won't change my life or how I have to go about things in my current role, but trying to get a sense of how much this varies by firm and what's the most common approach
Very thorough
I don't read shit and trust the process. Input only on commercial points and assume my advisors are competent enough to do the rest correctly
We go quite deep too. There’s sometimes context that lawyers don’t fully appreciate…there’s also times where I know I need better lawyers
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