Prescriptions For Subscriptions

John Kuhl and Amy Wells co-authored an article about the many issues institutional investors should consider when negotiating opportunity fund subscription agreements.

Executive Summary:

• Care should be taken in negotiation such agreements to avoid unanticipated obligations and exposure to unanticipated liabilities.
• Some Sponsors make negotiated modifications directly to the subscription agreement to be signed by the investors, while some place all subscription agreement modifications in a side letter.