kaal:claim:1428387-010

Independent administrators and valuation committees do not solve the independence problem for startup funds, because a majority of hedge funds in their startup phase try to keep overheads down and so may have independence problems precisely when independence is most crucial.

Even if independent administrators and valuation committees are used, it is important to note that a majority of hedge funds in their startup phase try to keep overheads down. Thus, they may have problems with independence in a phase when independence would be crucial.

Kaal, Hedge Fund Valuation Retailization, Regulation, and Investor Suitability (2009), II.C Conflict of Interest of the Manager, p. 10
https://ssrn.com/abstract=1428387 · source PDF

Kaal, Hedge Fund Valuation Retailization, Regulation, and Investor Suitability (2009). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1428387

• hedge funds in their startup phase

failuresupport: arguedfailure: startup-independence-gapfamily: board-and-oversight-failureinnovationeconomics

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