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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.