tłumaczenie tekstu z ekonomii - prośba o pomoc

Temat przeniesiony do archwium.
Witam, trafił mi się bardzo trudny tekst z dziedziny ekonomii. Prosiłabym o pomoc w tłumaczeniu kilku zdań (zdania pogrubione). Poniżej zamieszczam tekst:
"A Model of Accountability for Private Equity Investors
Despite the murky nature of Private Equity investing, leverage your operations to provide transparency from your managers through to your constituents.
Sailing in Dark Waters
If you invest into closed-end, draw-down, private equity funds you know that it can often feel like you're sailing in dark waters. There are few operational standards, few means of enforcement, and a general lack of visibility for investors in these murky conditions.
Limited Due Diligence
Pre-investment due diligence on a new fund is limited as there is no track record for evaluation. Likewise, post-investment diligence doesn't help much for the current investment — it just helps you decide if you're going to invest in this manager’s next fund. As a result, meaningful due diligence is most often reserved for long-term managers who launch multiple vintage year funds over time.
Complicated Fees & Expenses
Despite extensive negotiations on the terms of the Limited Partnership Agreement, fee and expense terms can remain vague, and can simply go undisclosed once the fund is operational. It can be difficult to ascertain how managers are calculating fees and allocating expenses, including:
What are the management fee calculations, deferral mechanisms, and changes to the terms at the conclusion of the investment period?
What expenses has the manager billed to the fund, what expenses get billed to co-investors, what gets paid by the management company?
What are the terms of the carry and the distribution waterfall, and what kind of claw-back provisions are there?
Lack of Visibility into Investments
Given the private nature of the industry, it can be inherently difficult to obtain relevant visibility into a fund’s investments. The fund may not be required to disclose information about its portfolio companies or it may choose to hold back information in order to preserve a competitive advantage.
Classification of Calls
A lack of standardization in manager reporting leaves many private equity investors struggling to interpret and account for how their capital is being put to use. Managers may articulate the nature of a call: itemizing fees, expenses, and specific investment deals, or they may simply call capital.
Given these challenges, chances are that your operations could use some refinement in order to catch up with the growth of your business. It may be time to bring your private equity operations up to par with the control that you have over your other asset classes.
Napisz swoje pomysly.
tu jest coś o vintage year:
http://privateequity.com/private-equity-vintage-year/
http://www.investopedia.com/terms/d/drawdown.asp
http://en.wikipedia.org/wiki/Private_equity_
http://en.wikipedia.org/wiki/Clawback

Closed-end fund - fundusz zamknięty, cokolwiek to znaczy.

articulate - stawiać jasno


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