Some investors have failed to learn lessons about the subtle dangers of contractual obligations, says Donna Walker
As investors go direct hoping to save a few dollars on fees, one of the crucial aspects of professional hedge fund investing needs to be looked at more carefully. Donna Walker, a partner at Sire Management, an $500 million fund of funds in New York, is not convinced the lessons of 2008 have been learned, at least when it comes to certain aspects of due diligence.
Irrespective of the type of hedge fund investor, family office, funds of funds, or direct institutional allocators, legal documents are extremely important. “In times of stress some