Global Infrastructure Management has agreed to pay a $4.5m penalty to settle Securities and Exchange Commission charges involving fees and expenses it passed on to investors in at least two of its funds.
The New York firm which sponsors the Global Infrastructure Partners investment funds failed to properly offset management fees and made misleading statements about the costs charged to investors in its first and third flagship pools, the agency said in an administrative complaint.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Global Infrastructure Partners is an independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and businesses. GIP targets investments in the energy, transport and water/waste sectors in both OECD and select emerging market countries.
Source: Wall Street Journal
Can’t stop reading? Read more
Blackstone taps bond market as private credit BDCs end issuance drought
Blackstone taps bond market as private credit BDCs end issuance drought Blackstone's private...
EQT raises the stakes with revised $12.3bn bid for Intertek
EQT raises the stakes with revised $12.3bn bid for Intertek EQT has tabled an improved takeover...
Temasek’s Azalea bets on evergreen structure to democratise private equity access
Temasek's Azalea bets on evergreen structure to democratise private equity access Azalea, a unit...