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 "text": "Co-investment arrangements become problematic when a fund grants a co-investment opportunity in exchange for a future or increased fund commitment and the practice is not adequately disclosed, especially where the fund's governing documents would prohibit the allocation.",
 "author": {
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  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
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 "citation": "Kaal and Oesterle, The History of Hedge Fund Regulation in the United States (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2714974",
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 "abstract": "If such private fund advisers' practices are not adequately disclosed, co-investments can often be problematic.",
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