The ILPA Guidance on Subscription Lines of Credit 2017

The Institutional Limited Partners Association (ILPA) on June 27, 2017 issued the Guidance For Limited Partners on Subscription Lines of Credit used by Private Equity Funds( the ILPA Guidance). The Guidance is significant in view of the increasing calls for greater disclosure and better alignment of interests between institutional investors and General Partners (GPs) with respect Read More

Nigeria’s Central Bank Issues Guidelines to Jumpstart Non-Performing Loans Market.

Nigeria has taken the first strategic step to creating an active distressed debt market locally. This is a significant move in the light of the build-up of non-performing loans (NPLs) in Nigeria’s banking industry. NPLs in Nigeria’s banking sector have now crossed the N2 trillion mark and are still on an upward trajectory. The International Read More

Nigeria’s $1M Venture Capital Fund For its Creative Industry: Some Practical Considerations

We commend the Federal Ministry of Information, Culture and Tourism and its partners for successfully organising the maiden edition of the Creative Nigeria Summit. The Creative Nigeria Summit is a bold step in thought leadership and industry engagement around some of the key issues affecting Nigeria’s creative industry. Perhaps, more exciting are the policy direction Read More

Offshore HoldCos as Investment Vehicles for Technology Start-Ups in Nigeria – Some Practical Considerations for Tech Founders and VC

Delaware flips are now increasingly common locally. We estimate that up to 70% of the tech start-ups that have raised seed financing or looking to raise seed financing in Nigeria have had to incorporate offshore holding companies (HoldCos) in Delaware, Mauritius or other jurisdictions considered to be investor-friendly[1]. This statistic is evidence of a prevalent Read More

Client Update: The Constitutional Limitations of the Limited Partnership Laws in Lagos State: Legal Implications for Private Equity and Venture Capital Limited Partners and Fund of Funds

With the introduction of a pioneer framework for registering Limited Liability Partnerships and Limited Partnerships in Nigeria, Lagos State gained significance in the local private equity and venture capital industry in Nigeria as a preferred jurisdiction for the formation of private equity and venture capital funds and amongst professionals, for the constitution of professional service Read More

Private Equity and Venture Capital Fund Formation For First-Time Funds in Nigeria: Some Legal Considerations

There is a growing wave of entrepreneurs and first-time GPs in Nigeria who have recently launched or currently promoting  a first-time venture capital or private equity fund. We think that global trends in the venture capital and private equity industry justifies this development. Whilst there is still some noticeable reluctance amongst the traditional institutional investor Read More

Balogun Harold Launches Second Opinion Practice

Lagos, Nigeria. February 27, 2017 – Balogun Harold has announced the launch of a Second Opinion Practice. The Practice provides a platform that allows the universe of investors, lenders, in-house counsel, foreign law firms and business people to receive the benefit of a second legal opinion on any issue of legal concern. The Practice is Read More

2017 Cross-Border Venture Capital Investment Outlook in Nigeria: Some Practical Legal Considerations for Cross-Border Venture Capital Investment Nigeria.

In this Report, we provide a high-level risk analysis of some of the legal and regulatory flash points for cross-border venture capital investments in Nigeria, thereby identifying some of the factors that may jeopardize EBITDA expectations. Download PDF Resource Send us a Brief Read More

2017 Outlook for the Distressed Loans Market in Nigeria: Some Considerations For Private Equity Buyers and Regulators

In this Report, we advance the view that a cultivation of an active distressed loans market must form part of the regulatory response to increasing NPL levels in Nigeria.  We also provide a high-level risk analysis of some of the legal and regulatory flash points that frequently recur in the sale and or work out of Read More

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