Article
Building A Defensible Process: GP-Led Continuation Fund Transactions In 2026
General partners executing continuation vehicle transactions in 2026 navigate a complex landscape shaped by regulatory uncertainty following the Fifth Circuit's vacatur of the Private Fund Advisers Rule, ILPA's increasingly prescriptive governance framework, and emerging private litigation risk. How can GPs build defensible process architecture that balances fiduciary obligations, institutional investor expectations, and commercial realities while minimizing post-closing exposure?
Mayer Brown
