Ed Klees Takes the Allocators' Side of Fund Agreements
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Sometimes the decision to make an investment can turn on the contents of a fund\\u2019s offering documents.\\xa0 Few people understand that better than Ed Kless.\\xa0 Ed has been a trusted advisor to some of the nation\\u2019s top endowments and other leading institutional allocators for over 25 years. \\xa0He has held the position of General Counsel at the University of Virginia Investment Management Company, and for the past five years, he has served his clients as outside counsel and partner at the Hirschler law firm.
In this episode, Ed covers a wide-range of topics involving investment agreements, including a review of top issues allocators worry most about and why the fiduciary-duty standard is such a key provision.\\xa0 He also explains why basic terms in agreements tend to be the same across the hedge fund industry \\u2013 from large, established managers to new entrants \\u2013 and why that doesn\\u2019t always make sense.\\xa0
In addition, Ed weighs in on private equity documents and the significance of an allocator\\u2019s leverage, or lack thereof.\\xa0 He concludes with some observations about changes to key provisions in fund documents over the past 10 years and some of the more significant issues that industry is grappling with now.
To learn more about Ed Klees and the Hirschler Law Firm, please visit his webpage.
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