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fees and expenses

Get someone to go over the waterfall

Tim Eberle, vice-president at fund services business Citco, makes the case for third-party verification of waterfall calculations.

Regulation retrospective: 10 years after the financial crisis

The constraints prompted by the global financial crisis could be on the chopping block. In Part I of this regulation special, pfm analyzes the changes since the crash.

Adopting a different waterfall – where will your profit flows end up?

As managers look at alternatives to a standard 8% preferred return and 100% catch-up waterfall, how does this affect how profits flow to investors and the manager? Goodwin’s Michael Halford and Benjamin Yeoh modeled them to find out

SEC to ratchet up scrutiny of fees and expenses

The agency will start spending less time working on new financial regulations, according to its chairman, Jay Clayton.

Who picks up the tab?

The tougher stance from the SEC on fees and expenses has had knock-on effects around the world.

Cost transparency biggest LP-GP misalignment

Clearer free structures are more important for LPs than a reduction in fees, research from State Street has revealed.

Be explicit on broken deal expense bills, managers warned

The recent case against Platinum Equity highlights how important it is to detail who will foot the bill for broken co-investment deals in LPAs

Four lessons from SEC enforcement actions

We assess the agency’s priorities through the lens of recent cases.

Committed capital fees ‘on the way out’

In the next 10 years, half of private equity managers will move to charging only on invested capital, predicts Richard Clarke-Jervoise, a partner at family office Stonehage Fleming.

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