Trade group calls for LPAC consent in some cases, and for new fund documents to cover usage and limits.
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All contributors will also have the choice of either a $5 UNICEF donation or entry into a prize draw to win a Yeti Cooler (worth $250!).
The spate of judgments against the SEC and other federal agencies could mean more regulation by enforcement over more clarity in rulemaking. And it may entrench the SEC’s recent penchant for litigation.
Some LPs have been frustrated by what they describe as a loophole in the GPs’ ostensible 80-100% management fee offset.
'Purpose built' offering features LP reporting, portfolio management and accounting.
The facility would be intended to support value accretive add-ons rather than to distribute capital to investors.
After 18 years with the firm, Cirella is calling it a career at the end of the year.
Co-investors often have different expectations and preferences than main fund investors when it comes to GP-led secondaries processes, write Debevoise's Jane Engelhardt, Brett Bush and Lauren Heller.
Teams will fall under joint leadership, with industry vet Jeff Johnston as head.