Disclosure of Private Equity Data.

Mondaq Business Briefing, April, 2003

There have been two recent and noteworthy developments relating to the release of private equity performance data under state open records laws. First, on March 10, 2003, the University of Texas Investment Management Co. (UTIMCO) requested that the new Texas Attorney General re-visit last September's ruling regarding the disclosure of private equity fund information. The prior ruling required UTIMCO to disclose information concerning its private equity fund investments pursuant to the Texas Public Information Act, even if UTIMCO had signed a confidentiality agreement with such funds. However, the prior ruling did not compel UTIMCO to disclose information that UTIMCO received after the date of the ruling. A new ruling, if issued by the Texas Attorney General, may compel...