Educational Workshop: Raising and Structuring Programmatic Joint Ventures

About This Workshop

Programmatic JVs are how established sponsors scale—but negotiating them is an entirely different skill than raising from high-net-worth individuals or syndicating individual deals. 
 

The capital partner brings institutional expectations: aggressive fee structures, board-level governance, and term sheets that look nothing like a standard LP agreement. 
 

If you’re making the jump from deal-by-deal capital raising to a programmatic partnership, you need to understand the landscape, the players, and the terms before you sit down at the table.
 

This workshop walks you through the process from sourcing a JV partner through negotiating and closing the term sheet. We’ll use a fictional case study to work through real scenarios—matching the right investor type to your strategy, structuring the economics, negotiating the key provisions that make or break a JV relationship, and understanding the governance and reporting requirements that institutional partners expect. 
 

You’ll leave with a practical framework for approaching JV conversations and a working knowledge of the terms that matter most.
 

You’ll Learn How To:
Understand the programmatic JV landscape

Learn how programmatic JVs differ from fund and syndication structures, when they make sense, and what institutional capital partners actually look for in a sponsor.
 

Match your strategy to the right JV partner type

Navigate the differences between PERE funds, family offices, platform investors, and co-GP funds—and understand which partner type aligns with your strategy, governance preferences, and capital needs.
 

Structure the economics

Build the financial architecture of a JV: management fees, preferred returns, promote waterfalls, co-investment requirements, and how each element interacts.
 

Navigate key term sheet provisions

Work through buy box parameters, capital commitments, approval rights, ROFO/ROFR, reporting requirements, and removal clauses—and understand what each means in practice.
 

Negotiate from a position of strength

Learn what to push on and what to concede, how sophisticated sponsors approach JV negotiations, and how to protect GP flexibility without blowing up the deal.
 

Avoid the pitfalls that derail JV relationships

Identify the structural and governance mistakes that cause JVs to break down—from misaligned incentives and unclear approval matrices to reporting failures and deployment timeline disputes.

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