Allocation of Investment Opportunities Among Affiliates: Fiduciary Obligations, Disclosure Requirements, and the Governance Framework That Protects Both
A real estate investment adviser manages two affiliated funds. Fund I is in its fourth year, past its investment period, with limited capital available for new investments. Fund II closed twelve months ago and has committed capital to deploy. A compelling off-market acquisition becomes available. The property fits both funds’ stated mandates. The deal size […]