Doug Cornelius on compliance for private equity real estate
The Principles for Responsible Investment Initiative has launched the Limited Partners’ Responsible Investment Due Diligence Questionnaire to encourage standardized due diligence on environmental, social and governance considerations in private equity. The LP Responsible Investment DDQ was developed in consultation with a working group composed of 41 LPs, funds of funds and GPs. There are 21 … Read more »
How Hanukkah Came to the White House by Jonathan D. Sarna in Forward.com The first president who took official notice of Hanukkah was one of the Jewish community’s least-favorite occupants of the White House, Jimmy Carter. In 1979, he ended 100 days of self-imposed seclusion over the Iran hostage crisis by walking to Lafayette Park, … Read more »
If your Thanksgiving was anything like mine, you have leftover food. It’s a poor allocation of resources, but Thanksgiving has turned into a weekend of excess. Excess food, excess shopping, excess football, excess dessert, excess waistline. Perhaps your compliance program is also filled with leftovers. Very few compliance officers would say that they have more … Read more »
If you are looking for something to read during the long Thanksgiving Weekend or a great holiday present, pick up a copy of the newly released The US Private Equity Fund Compliance Guide, Volume III. PEI Media just released this follow up that updates the original 2012 edition with the ongoing review and actions of … Read more »
Apparently, the Securities and Exchange Commission was running a sweep of firms with outsourced CCOs. The Office of Compliance Inspections and Examinations “stopped by” 20 registered firms that outsourced their CCOs to third parties. The SEC published a new risk alert to let us know what they found. Surprisingly, the SEC did not paint a … Read more »
Last year, the U.S. Securities and Exchange Commission looked at how many private equity firms calculate net of fees internal rates of return for their funds. The focus was on whether the performance figures disclosed if general partner investments are included in or excluded from that calculation. General partners in a private equity fund typically … Read more »
Congratulations to the Kansas City Royals on winning the World Series. It was their first World Series in thirty years and a year after their heart-breaking loss in Game 7. Mrs. Compliance Building is from Kansas City and ecstatic about the club’s turnaround. The Mets faltered last night because of emotion. Starting pitcher Matt Harvey … Read more »
You have likely heard all or some of these concerns before. Securities and Exchange Commission Chair Mary Jo White spoke at a meeting of the Managed Funds Association and pointed out areas of concern. One thing to note is Chair White stated that the Private Funds Unit in OCIE is completing a review of private … Read more »
The Securities and Exchange Commission brought an action against Blackstone for failing to disclose fees received from portfolio companies and for discounts from legal firms that it worked with, but without passing these savings on to investors. The monitoring fee issue has been discussed in compliance circles for some time. The legal fees action is … Read more »
The SEC is hosting a conference Tuesday, September 29 to commemorate the 75th Anniversary of the Investment Company Act and the Investment Advisers Act. The event will include remarks from SEC Chair Mary Jo White and fellow commissioners, as well as a series of panel discussions featuring industry pioneers, former SEC chairmen and division directors, … Read more »