In light of the rapidly changing coronavirus (COVID-19) situation, Troutman Sanders and Pepper Hamilton have postponed the effective date of their previously announced merger until July 1, 2020. The new firm – Troutman Pepper – will feature 1,100+ attorneys across 23 U.S. offices. Read more.
Podcast Category: Funds
Julia Corelli, a Pepper partner and co-chair of the firm’s Private Fund Services Group, joins this Pepper podcast to discuss trends in fund fees and expenses. In 2014, 2016 and 2018, Ms. Corelli spearheaded for Pepper surveys published by PFM, in which fund managers shared how they deal with fees and expenses. In addition, in 2015, Pepper and MergerMarket partnered to take a close look at the co-investment environment.
Taken collectively, these surveys offer unique insight into how fund CFOs and CCOs approach ordinary and extraordinary fees and expenses that occur in the life of a private equity fund. These fees and expenses need to be appropriately allocated to investors, co-investors and/or managers. But what is appropriate?
Ms. Corelli recently wrote an article for the Journal of Private Equity where she reviewed the guidance that the surveys offer and how to address unanswered questions when industry guidance is lacking.
Ms. Corelli joined the podcast to share what she learned from the process of writing that article. Topics covered include: