Fiduciary duty is the cornerstone of a private fund manager’s legal obligations, and although it may be simple in theory, it can be very complex in practice. Allocation practices are a perfect example: They must be fair, consistent, and in the best interests of all clients. However, “fair” isn’t always equal, “consistent” approaches are subject to change, and “best interests” can vary from one client to the next. When managers have multiple funds, overlapping strategies, or bespoke mandates, it can be downright tricky.

On August 14, please join AIMA and McDermott Will & Schulte LLP for a webinar on how fiduciary duty weighs on allocation practices. During this session, we will discuss what private fund managers should consider in developing allocation policies and procedures that are practical for business and align well with fiduciary duty. We also will discuss trouble spots that some have gotten very wrong, including more common areas of failure to take note of.

We hope that you will join us for this important discussion. As always, attendee questions are welcome and encouraged.

Panelists:

• Marc E. Elovitz, Partner, McDermott Will & Schulte LLP
• Tinika M. Brown, Special Counsel, McDermott Will & Schulte LLP
• Suzan Rose, Senior Adviser, Government and Regulatory Affairs, AIMA