LPAs

Making LPAs more akin to contracts between fund managers and their portfolio company execs would lead to better GP-LP alignment.

Investors are forcing funds to take disclosure to a whole new level of detail, with broken deal expenses one of the most contentious areas.

In a heady fundraising environment, GPs are pushing fund terms in their favor, and it’s up to LPs to walk them back, Texas Municipal Retirement System’s director of private equity Christopher Schelling says.