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OnAir with Akin Gump features the thinking and insights of Akin Gump’s lawyers and advisors on topics of interest to those in the business and legal communities around the world. Commentaries on headline-making stories, viewpoints on interesting trends, and peeks over the horizon at upcoming opportunities and challenges—all these and more are featured in this series.

Aug 7, 2019

In this episode, demonstrating solutions in fund formation and negotiation, Akin Gump investment management lawyers Jim Deeken and Gechi Tesic perform a mock negotiation between a private equity firm and a pension fund considering an investment in a successor fund.

Among the topics covered:

  • management fees and zombie funds
  • side letters
  • distribution waterfalls and clawbacks
  • in-kind distributions.

For more information on Akin Gump’s funds work, please visit the investment management page on