BCG

Black Creek Group

1 fund◔ Unclaimed

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Disclosures & prior history5 disclosures · worst medium

Material items extracted from the risk-factor, conflicts, and prior-performance sections of Black Creek Group's PPMs. Each is quoted verbatim with its source page — surfaced, not editorialized.

Related-party conflict disclosed — General Partner and affiliates permitted to engage in competing business activities

Medium

The General Partner and its affiliates may engage in business interests and activities that are substantially similar or identical to those of the Partnership, with no obligation to offer such opportunities to the Partnership or Limited Partners.

“the General Partner shall be entitled to and may have business interests and engage in business activities in addition to those relating to the Partnership, including business interests and activities substantially similar or identical to those of the Partnership. Neither the Partnership nor any of the Limited Partners shall have any rights by virtue of this Agreement in any such business ventures, interests or activities. None of the Limited Partners nor any other Person shall have any rights by virtue of this Agreement or the partnership relationship established hereby in any such business ventures, interests or activities, and the General Partner shall have no obligation pursuant to this Agreement to offer any interest in any such business ventures, interests and activities to the Partnership or any Limited Partner, even if such opportunity is of a character which, if presented to the Partnership or any Limited Partner, could be taken by such Person.”

PPM p.2797% confidence

Related-party conflict disclosed — General Partner conflict resolution in favor of shareholders over Limited Partners

Medium

The Agreement expressly authorizes the General Partner to resolve conflicts between shareholders and Limited Partners in favor of shareholders, with no monetary liability to Limited Partners for such decisions made in good faith.

“In the event of a conflict between the interests of its shareholders on one hand and the Limited Partners on the other, the General Partner shall endeavor in good faith to resolve the conflict in a manner not adverse to either its shareholders or the Limited Partners; provided, however, that for so long as the General Partner directly owns a controlling interest in the Partnership, any such conflict that the General Partner, in its sole and absolute discretion, determines cannot be resolved in a manner not adverse to either its shareholders or the Limited Partner shall be resolved in favor of the shareholders. The General Partner shall not be liable for monetary damages for losses sustained, liabilities incurred, or benefits not derived by Limited Partners in connection with such decisions, provided that the General Partner has acted in good faith.”

PPM p.2797% confidence

Related-party conflict disclosed — Affiliate employment and self-dealing transactions permitted

Low

Any Affiliate of the General Partner may be employed or retained by the Partnership and may deal with the Partnership in various capacities, receiving compensation determined solely by the General Partner to be fair and reasonable, with no independent oversight requirement.

“Any Affiliate of the General Partner may be employed or retained by the Partnership and may otherwise deal with the Partnership (whether as a buyer, lessor, lessee, manager, furnisher of goods or services, broker, agent, lender or otherwise) and may receive from the Partnership any compensation, price, or other payment therefor which the General Partner determines to be fair and reasonable.”

PPM p.2796% confidence

Related-party conflict disclosed — Broad indemnification of General Partner, Advisor and their affiliates by the Partnership

Low

The Partnership is obligated to indemnify the General Partner, Advisor and affiliates against all losses and expenses from Partnership operations, with limits only for bad faith, active dishonesty, improper personal benefit, or criminal acts. Indemnification is paid from Partnership assets.

“The Partnership shall indemnify an Indemnitee from and against any and all losses, claims, damages, liabilities, joint or several, expenses (including reasonable legal fees and expenses), judgments, fines, settlements, and other amounts arising from any and all claims, demands, actions, suits or proceedings, civil, criminal, administrative or investigative, that relate to the operations of the Partnership as set forth in this Agreement in which any Indemnitee may be involved, or is threatened to be involved, as a party or otherwise, unless it is established that: (i) the act or omission of the Indemnitee was material to the matter giving rise to the proceeding and either was committed in bad faith or was the result of active and deliberate dishonesty; (ii) the Indemnitee actually received an improper personal benefit in money, property or services; or (iii) in the case of any criminal proceeding, the Indemnitee had reasonable cause to believe that the act or omission was unlawful.”

PPM p.2496% confidence

Related-party conflict disclosed — Special Partnership Units (advisor promote) redeemable at full waterfall value on Termination Event — creates retention incentive for advisor

Info

On a Termination Event (advisory agreement termination other than for cause, or GP change-of-control) or Liquidity Event, the Special OP Unitholders receive OP Units equal to the full hypothetical liquidation value of their 15% promote, immediately monetizing the promote. Redemption requires OP Unitholders to first have received capital plus 6.5% return.

“Upon the occurrence of a Termination Event or a Liquidity Event, the Special Partnership Units shall be exchanged for OP Units with a value equal to the Net Sales Proceeds that would have been distributed to the Special OP Unitholders under Section 5.2(b)(i)(B)(2) if all assets of the Partnership had been sold for their fair market value, as determined in good faith by the General Partner, all liabilities of the Partnership were satisfied in full in cash according to their terms, and Net Sales Proceeds (after satisfaction of such liabilities) were distributed in full pursuant to Section 5.2(b)(i)”

PPM p.3795% confidence

Fund portfolio

● Active

Industrial Income Trust Inc.

Unknown · — · Vintage 2009

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