This is the first in a three-part series on preferred equity. It examines the core features and principal use cases for preferred equity in the private capital landscape. Subsequent installments will ...

Our firm, FP Transitions, keeps a database on thousands of advisory firms, looking at data such as valuations. Our recent look into this data revealed a powerful truth: The most valuable firms are ...

Preferred equity investing is on the rise amid a search for yield and a fall in the number of high-quality assets coming to market. Here we explore the growing appeal of preferred equity instruments, ...

Am Law 100 firms continued the trend of increasing their nonequity ranks in 2025. Overall, nonequity tiers grew 7% across the Am Law 100 last year. Some firms are also considering moving to some ...

A deals boutique based in Los Angeles sold a position in their back-office functions to a private equity firm, employing a corporate structure that is increasingly gaining a foothold in the legal ...

In my work, I encounter complex equity structures across a range of scenarios and companies, but the most common is stock-based compensation for start-up companies. Whether you're an auditor or a CFO, ...

Private equity funds aren't readily available to the average investor and they typically require a minimum investment. They're commonly geared toward institutional investors such as mutual fund ...

Business development companies (BDCs) are increasingly incorporating equity co-investments into their primary loan strategies as the private credit market develops. These equity investments, which ...

For years, advisors in the independent channel seldom worried about creating equity ownership tracks for their firms’ junior associates. But as advisory firms have become more complex and ...

A waterfall equity structure is a system for allocating profits, losses and expenses for a business venture or investment members. The real estate industry commonly uses it, but you can also apply it ...