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    Secondary Transactions Provide Welcome Flexibility to Both Fund Managers and Investors in Energy Sector Private Equity Funds, But They Must Be Structured and Timed to Avoid Tax Pitfalls

    Outside Publication

    Houston Partners Michael Blankenship and Bill Swanstrom, Boston Partner Heather Stone and Houston Associate Louis Savage co-authored an article for Energy Law Report examining Secondary Transactions as they relate to both fund managers and investors in energy sector private equity funds. The article introduces readers to the two main categories of Secondary Transactions: investor-led Secondary Transactions and manager-led Secondary Transactions. The authors also highlight the possibilities presented by Secondary Transactions, “which will lead to greater liquidity and better alignment of interests between fund managers and fund investors, going forward.” Additionally, the authors review the primary deal structures available for manager-led Secondary Transactions.

    To read the full article, click here.

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