Financial disclosure -
A decade of growing transparency -
Welcome to the 2024 Private Funds CFO Fees & Expenses Survey, which has been conducted biennially since 2014. The SEC’s Private Funds Rules have been vacated, but the regulator will continue to use its enforcement division to pursue transparency in private markets fees and expenses with dogged determination, writes Amy Carroll. While enhanced quarterly reporting will no longer be mandated, the Institutional Limited Partners Association has rebooted its proposed quarterly reporting template in the hope it will become a voluntary industry standard instead. There is no doubt then that the drive towards disclosure remains intact. LPs demand it, and GPs must respond. The Private Funds CFO Fees & Expenses Survey has again captured the latest evolutions in one of the most sensitive areas of fund negotiations. As the power to define best practice returns to the industry, here are key findings from 2024’s survey.
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