In a letter to SEC Chair Mary Jo White, the Treasurers and Comptrollers of 13 states have urged the SEC to crack down on private equity funds and require better disclosure of expenses to limited partners. Fees and expenses in the private equity space have in general been a recent…
The expense provisions of many private fund governing documents are becoming longer and more detailed for good reason – increased Securities and Exchange Commission (SEC) scrutiny and prosecution relating to expense allocation and disclosure. On April 29th, the SEC announced charges against Alpha Titans LLC, a hedge fund advisory firm,…