Samuel Francis Appears on “Live at Nasdaq” to Discuss Private Equity trends

CorpGov Editor-at-Large Jarrett Banks hosted a fireside chat on Nov. 20 from the Nasdaq Marketsite with Partner Samuel Francis. They discussed trends governing the formation of new private equity and infrastructure funds.

Francis touched on the increasing amounts of capital that are being allocated to funds, particularly those focused on the energy and data center sectors. Much of the discussion centered on the growth in innovative fund structures, including so-called hybrid or evergreen funds, which give fund managers and investors greater flexibility to evolve their investment strategies while also providing some of the stability that exists with standard “closed-ended” funds.

“The idea of a hybrid fund is to be the Goldilocks of private funds: It’s not too liquid, it’s not too locked up. It is trying to strike that just-right balance,” Francis explained. “If done right, it can really be a win, win, win for the parties involved. For the fund manager, they are able to hold onto their investments for longer and sell those investments at the right time.  For investors, they get the flexibility and liquidity they are looking for. And for the underlying portfolio companies, they are able to reach their full potential.”

Francis is a partner in the Investment Funds practice, leveraging his extensive legal experience and financial background in a wide array of corporate and transactional matters across the spectrum of private investment fund strategies as well as investment adviser, broker-dealer and related regulatory issues. He is recognized for delivering commercial and innovative solutions in consideration of applicable securities laws and industry best practices, with a business-oriented approach aligned with client objectives.