Tag Archive: "Operating Agreement"
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Year-End Reminders for Fund Managers
As year-end approaches, fund managers should prepare for compliance season by working closely with their service providers to ensure delivery dates are met and potential hurdles are anticipated. We recommend that fund managers consider the following: Have open and honest conversations. Engage your fund administration, tax, and assurance teams to set expectations and establish […]
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How the Language in a Partnership (or Operating) Agreement Can Have a Significant Impact on Fund Administration
Often 60 to 100 pages and thousands of words, partnership or operating agreements (“LPAs”) act as the legally binding agreement between the sponsor (“GP”) of a fund and its investors, the limited partners (“LPs”). From an administrator’s perspective, LPAs are the roadmap for a fund’s life cycle; from formation, through investor onboarding and mechanics for […]