At your firm, who owns the purchase agreement on platforms/exits? Partner/MD, Principal/VP, or a split between the two?
Do Associates provide any input beyond checking details on reps, schedules, etc.?
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I’d assume most funds principal/VP owns & is perhaps briefly checked by Partner/MD if possible. Of course dictated by Partner but drafted by Principal.
Worked at a UMM for 6 mos and this was procedure.
I’m at VP at a MM fund. I’d say typically Partner/MD leads for platforms / large add-ons. For smaller add-ons, I’m driving a majority of it. Associates are largely uninvolved other than sometimes checking disclosure schedule exhibits (e.g., top customer lists) or taking first crack at funds flow / matching to language laid out in purchase agreement.
Squarely the principal and on some key items partner will chime in too
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