LPs Want Better Fund Materials, Survey Finds

Law360, New York (October 3, 2013, 2:00 PM EDT) -- GPs, do better. That's the general message to fund sponsors from a new survey of institutional investors, who say general partners are skimping on important information in offering documents and costing themselves millions in commitments.

Two-thirds of investors surveyed by London-based research firm Preqin Ltd. rated fund documents they received over the past year as average or worse. Many found them confusing at best, deceptive at worst, and difficult to compare easily to one another. Offering memos that befuddle end up in the trash nine times...
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