GP Stake Sales: Governance Drift, LP Contract Gaps, and Concentration Risk for Limited Partners
GP stake sales are no longer a niche sponsor‑financing tool. This LP‑side analysis examines how GP stakes can shift governance and incentives, where LPAs and side letters leave investors exposed, and how a concentrated buyer universe changes portfolio‑level risk. Written for CIOs and heads of private markets at pensions, insurers, endowments and family offices.