Private Equity International quoted Investment Funds Practice Chair Kari Harris in an article examining the increasing use of semi-liquid and evergreen fund structures and the implications for traditional limited partners. She emphasized the importance of transparency in fund documentation as these structures continue to evolve. 

Regarding deal allocation protections, Kari notes, "If this fund doesn't get the full bite of the apple and has to share that, that must be disclosed in the LPA so investors understand the manager's investment allocation policies." 

Source

Private Equity International