New York City Comptroller: Ax Rule Forcing Private Equity to Pay Legal Bills
New York City Comptroller: Ax Rule Forcing Private Equity to Pay Legal Bills Mandate now forces PE operators to cover their own litigation tabs in disputes, instead of passing along the costs to NYC pension fund investors. Scott Stringer is worried. New York City pension funds are having a tough time enlisting private equity (PE) firms due to a requirement that PE outfits pay for litigation expenses out of their own pockets instead of shunting the cost onto investors. So, as the city official overseeing the funds, City Comptroller Stringer is urging fund trustees to scrap this rule, which ...
Source: ai-cio.com