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https://www.ft.com/content/511191ed-1adc-4f66-8c61-41f8aed20859?syn-25a6b1a6=1

An influential body of private equity investors wants to change a longstanding arrangement that leaves them paying the “runaway legal costs” involved in fundraising that have fuelled the growth of some of the world’s top law firms. The Institutional Limited Partners Association has taken aim at a protocol whereby investors in private equity funds pay the legal costs of buyout group managers as well as their own in negotiations over setting up the vehicles. READ MORE