An article published by Private Equity International on May 1 reports that a number of U.S. states are considering following California in mandating public pension funds to disclose carried interest and other fees paid to private investment fund sponsors and their affiliates. The piece quotes private investment funds counsel Catherine Skulan (San Francisco) on the California fee disclosure law. “The goal was to get relevant information to pension funds so that they can understand the fees they are charged and make better decisions about how to invest,” states Ms. Skulan. “If you take a broader step back and consider that the law was focused on transparency and disclosure, it does address those aims.”
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