The Main Economic Terms:
o The 2 and 20 model
o Manager co-investment
o The distribution waterfall
o Clawbacks; recycling; fees and expenses
Tom Berry is an international counsel based in the firm’s London office, and a member of the firm’s Corporate Department and Investment Management Group. Named a Rising Star by IFLR1000 (2022), Mr. Berry advises fund sponsors across a broad range of strategies (including buyout, debt, infrastructure and secondaries) on the formation, raising and operation of their investment funds, and on related carried interest and co-investment arrangements.
Mr. Berry is also a member of the firm’s Private Fund Transactions Group and advises on investments in GPs and secondary transactions, including sponsor-led restructurings and other liquidity solutions.
Mr. Berry joined Debevoise in 2019, prior to which he was an associate in the Private Funds Group of a leading global law firm. He has completed client secondments in London, New York and Zug.
Mr. Berry received his B.A. (Hons) from the University of Oxford (St Hugh’s College) in 2005. He received his GDL and LPC from BPP Law School.
Mr. Berry was admitted as a solicitor of the Senior Courts of England & Wales in 2010. He has also been admitted in the Cayman Islands and Ireland.