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14 Evaluating and Implementing Private Monitoring Solutions

From: The Law of Private Investment Funds (3rd Edition)

Timothy Spangler

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 30 May 2024

Subject(s):
Regulated activities — Private fund

This chapter considers three private monitoring solutions designed to help fund investors better address the problems arising from the governance challenge by facilitating a better flow of information from the fund manager to the investors and their agents. All three private monitoring solutions recognise the commercial contexts in which private investment funds operate by emphasizing voluntary steps that fund managers and investors can take incrementally. Each focuses on the provision of accurate and timely information as the means to overcome the investment protection concerns that arise due to the collectivised nature of the private investment fund. The chapter first looks at the criticisms against private monitoring solutions as well as the limits of financial regulation before discussing due diligence as the commercial foundation for private monitoring solutions. It also examines how to best support the wider adoption and implementation of private monitoring solutions.

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