KirklandPEN Kirkland & Ellis LLP

Private Equity Newsletter – August 30, 2010

This issue includes the article “RMB Funds – An Emerging Opportunity,” which reports how recent favorable regulatory developments may enhance opportunities for non-Chinese sponsors seeking to enter the China market by raising RMB-denominated funds. Also featured is “Letters of Intent – Say What You Mean and Mean What You Say,” which discusses how the recent decision by the Georgia Court of Appeals upholding a jury verdict awarding millions to a spurned prospective buyer shows that even careful drafting of “non-binding” language in a letter of intent may not be effective in avoiding unanticipated binding obligations.