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CalALTs white paper sets out best practices for hedge and private equity funds

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The California Alternative Investments Association (CalALTs), whose members include alternative asset managers, investors and service providers in California, has issued a white paper on best practices for hedge fund and private equity operations.

Operational due diligence has played a more pivotal role in the hedge funds and private equity firms as the alternative investment industry has developed over the past 10 years.
The white paper, which was developed by the CalALTS Best Practices Committee, seeks to outline crucial operational best practices for the industry.
Areas of focus include: general operational best practices including internal staffing; portfolio valuation best practices; prime broker and hedge fund relationships; expense allocations; the
new fund governance; in-house vs outsourcing; and venture capital valuation and the increasing role of option pricing models.
“So much has evolved in the private fund space over the past ten years and CalALTS is committed to refining and developing the conversation around best practices in the private fund industry,” says CalALTs board member Lauri Martin Haas (pictured). “Our hope is that this research will open the dialogue around increased transparency and operational guidelines in the industry.”

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