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Adam August

Adam August

Screenplay writer

Jun 11, 2026

15:34
So what do we need to look for as LPs in those documents before investing to help us deal with those situations at the end of it?
15:42
Yeah, I mean, I think, you know, you mentioned if there's in typically all closed end funds, you would expect to see a manager GDP removal provision.
15:51
And, you know, those can come in a couple of different types and obviously different voting thresholds and those provisions.
15:59
A lot of times you would expect to see a for-cause removal if there's bad acts or assertions of fraud, those type things.
16:08
And then most funds would also have a not-for-cause, obviously a much higher threshold where you may not be able to be proving, you know, fraud or misconduct at a 75% investor vote level.
16:24
But you can do it if there is a large enough group of LPs, you know, there's a not for cause removal with 90%.
16:30
And there's, you know, a large group of investors that are saying, whether this is fraud, or mismanagement, or incompetence, you know, we need to do something to protect our capital, regardless of of whether the government is involved or we're getting any reports from GPs.

13 MINS LATER

29:57
When is that point usually?

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