easy · Private Equity pe-core
Starlight Capital Fund V is a $500M fund. A 'No-Fault Divorce' clause in the LPA allows LPs to terminate the GP without cause.
What is the standard requirement to trigger this?
- The fund reaching its 10-year maturity date
- A single vote from the LP Advisory Committee (LPAC) chairman
- Evidence of criminal fraud or gross negligence
- A supermajority vote (typically 75% or higher) of LPs
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