Two fund admins respond to transparency trend; LPACs as ‘independent directors’

4Pines and Socium each launch partnerships in response to calls for GP transparency; LPACs are increasingly in the ‘hot seat.’

Connor Hussey reports that fund administrators 4Pines Fund Services and Socium Fund Services have launched partnerships suggesting that managers are increasingly looking to their fund administrators to help satisfy calls for GP transparency from investors.

LPACs: Originally conceived of as an oversight role, LPACs are now increasingly finding themselves in a position more akin to a private funds equivalent of an independent director, write two lawyers from Troutman Pepper in this sponsored article from our Fees & Expenses Survey 2020. From facing conflicts of interest over the advancement of expenses, to approving fund extensions and valuations procedures, LPACs are increasingly “in the hot seat,” they write.

Email prepared by Graham Bippart