Davis Polk partner Michael Hong was quoted in Private Equity Law Report on the current fundraising landscape for private equity funds and how fund managers can modify their fundraising efforts and strategies. “In a pending recession, investors often examine their books and try to tighten their belts,” Michael explained. He added that fund managers who pursue an investment strategy with greater flexibility and investment caps for opportunistic strategies are “likely to retain that flexibility, and LPs are unlikely to ask them to remove it.”

“PE in a Recession: Tips for Tailoring Fundraising Efforts, Anticipating Demand for Secondaries and Managing Co Investments (Part One of Three),” Private Equity Law Report (September 20, 2022) (subscription required)