How to Write an Effective Search Fund PPM

professional profile

January 22, 2024

by a professional from Harvard University

Hi all, just wanted to share Goodwin's primer on how to write an effective search fund PPM. Happy to chat about it from a legal perspective - redacted

https://www.goodwinlaw.com/en/insights/publications/2023/10/insights-privateequity-how-to-write-an-effective-search-fund-ppm

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commentor profile
Reply by a searcher
from University of Toronto in Toronto, ON, Canada
Hey, Monica. Thanks for the post. I'm going to give this a read and file it away for future use.

A couple of questions - I believe the PPM is only used when raising a traditional search fund. If so, what is the document called when a self-searcher is preparing a memo for potential investors to fill an equity gap they may have (assuming you have a target under LOI)? I think it has a different name, or can you use a similar structure for both?
commentor profile
Reply by a searcher
from Miami University of Ohio in Toledo, OH, USA
redacted‌^ It's typically called an Investment Memorandum. Includes the CIM, DD details, Financials including your projections, Deal terms/structure, and governance plan. I could be missing some. Most also create a one-page teaser along with an investor pitch deck.
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