, the SEC has begun to impose large fines over expense-allocation conflicts and disclosure issues. Practical implications It … is imperative for PE Fund managers to retain counsel to review their fund offering documents, expense allocation …

regarding a registered investment adviser’s handling of expense allocation with respect to two private fund clients and certain …. Originality/value – Description of a noteworthy SEC enforcement action regarding expense allocation and practical guidance from … investment management lawyers to remind private equity sponsors to ensure that they have adopted and implemented expense …

advisers to private investment funds should re-evaluate their fee and expense allocation policies and procedures to be sure …