Presentations and information provided by the fundraising team that influence LPs' decisions are often subject to the laws of all jurisdictions in which a fund is advertised. These laws often apply to information provided to LPs regardless of the media through which it is communicated.
In certain circumstances, presentations to potential LPs may be made at an early stage and the information provided to them may influence their investment decision, even if they have not yet received formal fund documents.
It is important that potential LPs are made aware of changes to the information provided to them at any stage of the fundraising process so that they are able to make a balanced investment decision based on accurate information.
The fundraising team must comply with local laws relating to the marketing of funds in all jurisdictions where the fund is advertised and appropriate professional advice should be sought. The fundraising team should ensure that information provided to potential LPs and promotional statements made to them, in whatever form (e.g. in telephone calls, meetings, slide presentations, letters, emails, websites, etc.), including at an early stage, are accurate and fairly presented. Subsequent material changes to such information should be communicated to prospective LPs.