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

private equity, mergers, M&A, Bay Hills Capital, Kentucky Retirement Systems
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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