CFOs on what LPs want

Our survey of CFOs shows that LPs are asking for more info; shortlists are up and voting is open for PEI's 2019 Awards; what to do about leavers (the good and the bad); and recap on Wiseman's BlackRock exit.

What LPs really want: According to our Private Funds CFO Insights 2020 survey, CFOs think that coping with more investor requests and demand for more transparency are among the top risks to further growth in the industry. LPs are asking for more information, not just as regards more traditional measurements around assets, fees and expenses, but also around diversity, gender, ethnicity, and ESG matters. In this article, we take a look at how finance teams are dealing with new demands and requirements.

Waterfalls: From our special report, we have an excerpt from the Definitive Guide to Carried Interest. Macfarlanes’ Christopher Good takes a look at what steps a general partnership should take when doling out carried interest to partners that are leaving.

Shortlists for PEI awards: Voting is open for PEI’s 2019 awards. There are five sections: global awards, EMEA awards, North America awards, Asia-Pacific awards and secondaries awards. We’ve got a shortlist for each category based on PEI’s coverage throughout the year, conversations with the market and reader submissions.

Wiseman’s out. In case you missed all the commotion at the end of last week, PEI also has the skinny on the ousting of former Canada Pension Plan Investment Board president Mark Wiseman from BlackRock for failing to disclose a consensual workplace relationship. The departure of Wiseman, who was global head of active equities and chairman of the firm’s alternative investment unit, has triggered a suspension on all new deal activity from the firm’s Long Term Private Capital Fund, which has gathered $2.75 billion against a target of as much as $12 billion. BlackRock will need to seek permission from the vehicle’s LPs to continue investing.