Governance and controls.
Independent oversight of risk, audit, compliance, and valuations underpins every investment decision at Slate Blue Capital.
Four pillars of oversight
Risk
The Risk function maintains the firm's Risk Appetite Statement, monitors exposure across funds and portfolio companies, and stress-tests deployment against rate, liquidity, concentration, counterparty, and covenant scenarios. Risk review is structurally independent of deal teams, reports to the CEO with a dotted line to the Audit Committee, and is a required input to every Investment Committee decision. The function holds veto rights on covenant, concentration, and counterparty matters.
Compliance
Compliance administers the Code of Ethics, Conflicts of Interest Policy, regulatory disclosures, personal trading pre-clearance, marketing review, and limited partner communications. The function maintains the firm's regulatory registrations, manages relationships with external counsel, and serves as the principal point of contact for the SEC and state regulators. Compliance is independent of investment, finance, and operations.
Internal Audit
Internal Audit independently assesses the design and operating effectiveness of the firm's controls across investment, valuation, finance, operations, compliance, and technology. The function prepares the annual Internal Audit Plan, the quarterly Control Attestation, the per-finding remediation tracker, and the LP DD readiness package. Internal Audit is structurally independent of CFO and Legal and reports primarily to the Audit Committee, with an administrative dotted line to the CEO. The function holds escalation rights but no investment veto.
Valuations
The Valuations function owns the recommended mark for every position across the platform on the quarterly cycle (T+30 to T+45). The Director of Valuations recommends; the CFO ratifies; the CIO is consulted but does not approve. Material valuation disputes escalate to the CEO and the Audit Committee. The function coordinates the annual third-party valuation specialist review and provides per-position waterfall inputs to fund finance. Valuations is structurally independent of deal teams and finance.
PricewaterhouseCoopers LLP
Independent audit of fund financial statements and platform reporting.
LePore Law Group
Fund formation, governance, and transactional legal counsel to the firm.
The LPAC.
Each Slate Blue Capital fund maintains a Limited Partner Advisory Committee composed of representatives of significant limited partner investors and one independent member. The LPAC reviews conflicts of interest, valuation methodology disputes, key-person events, and other matters referred to it under the fund's governing documents.
Five seats
Four seats are held by representatives of the largest limited partners in the fund by aggregate capital commitment. One seat is held by an independent member with no economic interest in the fund, appointed by the general partner and confirmed by majority vote of the LP seats.
Three of five present
A quorum of three members is required for any LPAC meeting. Matters submitted to the LPAC are decided by majority vote of members present. The independent member breaks any tie. Each member has one vote.
Conflicts, valuation, key-person
The LPAC consents to material conflicts of interest, reviews material valuation disputes, considers key-person events under the relevant fund documents, and reviews any other matter the general partner refers to the LPAC. The LPAC does not direct investment decisions.
Suspension and replacement
A Key Person Event is triggered if Alexandra Y Pohl ceases to devote substantially all of her business time to the firm. The investment period is automatically suspended upon a Key Person Event and resumes only upon LPAC approval of a successor key person or affirmative LP vote.
Supermajority threshold
Limited partners may remove the general partner without cause by affirmative vote of holders of seventy-five percent of the limited partner interests, subject to the procedures and economic adjustments set out in the relevant fund documents.
Majority threshold
The general partner may be removed for cause, including fraud, willful misconduct, gross negligence, or material breach of the partnership agreement, by majority vote of the limited partners, subject to the procedures set out in the relevant fund documents.
Specific LPAC composition, voting thresholds, quorum, key-person definitions, removal mechanics, and economic consequences are governed by the limited partnership agreement of each fund. The summary above describes the firm's standard framework. Variations may apply by vehicle and are disclosed in the relevant private placement memorandum and limited partnership agreement.
ILPA alignment.
Slate Blue Capital aligns its limited partner relationships with the standards published by the Institutional Limited Partners Association. The firm does not yet hold membership status with ILPA or other industry bodies; affiliations will be added as memberships are completed.
ILPA Principles 3.0
The firm operates in alignment with the alignment of interest, governance, and transparency principles published by ILPA, including standards for fund-level disclosure, fee and expense reporting, and limited partner communications.
ILPA Reporting Templates
Quarterly fee, expense, and carried interest reporting is provided to limited partners using the templates published by ILPA. The reporting includes management fees, carried interest accrued and paid, fee offsets, and expense allocation by category.
Talk to our investor relations team
For fund materials, capital account information, and partnership inquiries, reach Slate Blue Capital directly.
Contact Investor Relations