Lex Gets Lazy on PE Fee Story

Reading today's Lex column on private equity, I was reminded of an old Stephen Colbert line about President Bush: "He believes the same thing Wednesday that he believed on Monday, no matter what happened Tuesday." The shoddy column was about last week's sit-down between a group of big buyout firm executives and big pension fund managers, over the issue of fund structure guidelines published last September by the Institutional Limited Partner Association (ILPA).

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