Funds attorneys: which do you prefer more, GP side or LP side? I usually do GP side but recently have been on some LP side stuff and absolutely hate it

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My least favorite part is drafting the comment memos to our client explaining the mechanics of the fund then discussing all the changes the client wants and reverting on the memo - ends up taking forever

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Lp work is terrible, largely because the clients are often incredibly cheap. Very hard to build a profitable practice

Gp side can lead to you becoming significantly more valuable to the firm. Those funds clients tend to bring in a lot of other related business

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I’m a fourth year where I did like 75%/25% gp lp work for the first two years now do 95% gp work. I think gp work just has more grunt work. Lp work is kinda interesting and imo once you do a few lp side work for one client, u know what they care about etc. and its the gp counsels who’s usually duping out docs etc

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LP work is interesting, you get to see the other firms‘ documents.

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I should clarify: My practice is GP side but I like the occasional LP side work.

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What do you hate about LP side work?

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