Editor’s Letter: Kentucky pension goes nuclear on key-man option in fund-of-funds

private equity, SEC, law, legislation
Private Equity Editor Chris Witkowsky reflects at home. Photo by Wendy Witkowsky
What happens if you set up a key man rule in your fund and no one pays attention to it? That question came up in a squabble between a fund-of-funds called Bay Hills Capital and Kentucky Retirement Systems, the single investor in four of its funds-of-funds. ...

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