PE firms may face heightened litigation risks when their transactions involve issues governed by unsettled common law or when their portfolio companies are in rapidly changing industries. Those litigation risks tend to land at the feet of PE sponsors’ GCs, who are typically expected to provide the first layer of analysis and develop a mitigation strategy going forward. Therefore, GCs must monitor all potential litigation risks, whether in the context of their firms’ compliance efforts or transactions pursued by their portfolio managers. The Practising Law Institute recently hosted its Twenty-Fifth Annual Private Equity Forum, which contained a panel discussing recent litigation affecting PE sponsors. The program was moderated by Whitney A. Chatterjee, partner and chief legal officer at Apollo Global Management, and featured King & Spalding partner Jessica Benvenisty, Norton Rose partner Annmarie Giblin, Selendy Gay managing partner Maria Ginzburg, and Morris, Nichols, Arsht & Tunnell partner David A. Harris. This article summarizes relevant takeaways from the panel, including litigation and Delaware partnership law updates targeting how PE transactions are structured; risks related to how data is handled and liability stemming from claims of cyber negligence; and antitrust scrutiny that could lead to parental liability. For other risks that PE sponsors face, see “ACA Regulatory Outlook for 2024” (May 16, 2024); and “2024 SEC Examination Priorities: New Approaches to Old Areas of Concern” (Dec. 14, 2023).