All Questions

with tagconfidentiality
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How does LP confidentiality work with being on the LPAC? I would assume all LPs would be told who the LPAC members are?

Top answer:

“The identity of the LPAC members will be disclosed to all the investors of the fund. Disclosure happens as part of the process of providing notice to investors of changes or approvals that have been made.”

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Do We Need to Expose Our Entire Deal Flow to LPs, or Just Invested Deals, and What Are the Risks and Confidentiality Concerns?

As a part of reporting, do we (need to) 'expose' the entire deal flow (invested in or not) to LPs OR only the ones we have decided to invest in? Are there risks (such as them going direct) if we expose the entire deal flow to the LPs? How sensitive is this deal flow confidentiality topic to engage with LPs and VPs? Or it is pretty much an unwritten trust/relation? Are/do we cover some of these in LPA VPA?

Top answer:

Once LPs have invested in the fund, you will need to provide reports on your companies. Before that, you can show select companies in your data room to investors who have signed a letter of intent.

 -  Mike Suprovici
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