Reuters Blogs – It seems that private equity fund sales are heating up so much they need their own market.

SecondMarket said today it is opening trading in limited partnership interests in private equity funds, venture capital funds, hedge funds and fund of funds (the intention to launch into this market was reported a few weeks ago by our sister publication peHUB).

The firm also hired Jeffrey Bollerman, previously at Citigroup Wealth Management, to help lead its LP interest market.

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Tags: citigroup, funds hedge, intention, limited partnership, partnership interests, private equity fund, private-equity-funds, reuters, sister publication, venture capital funds, wealth management

Money Management Letter – The Utah Retirement Systems has proposed that hedge funds’ management fees cover operating expenses only, that performance fees be paid either at the end of a lockup period or placed on a deferred schedule, and that managers should meet the transparency needs of every investor.

The scheme has issued what it calls a summary of preferred hedge fund terms, a copy of which was obtained by MML’s sister publication Alternative Investment News. Spokesman Dave Anderson declined to answer any questions, saying that the document was confidential and only meant for Utah’s hedge funds.

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Tags: alternative-investment-news, dave anderson, investor, lockup period, management fees, management letter, money management, operating expenses, performance-fees, sister publication, spokesman, transparency, utah retirement systems