SEC
Whistleblower
Attorneys

June 29, 2018

THL Managers V, LLC, THL Managers VI, LLC

Financial Fraud

SANCTION AMOUNT: $6506016

Defendants: THL Managers V, LLC, THL Managers VI, LLC

Settled proceedings brought on findings of inadequate disclosures and breach of fiduciary duty by the private equity fund adviser Respondents. According to the consent Order, Respondents failed to adequately disclose to the funds they advised, and to the funds’ limited partners prior to their commitment of capital, that they may receive accelerated fees upon the early termination of portfolio company agreements. Also, Respondents' receipt of accelerated fees was a potential conflict of interest, so they could not effectively consent to this practice on behalf of the funds.

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