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To discuss the US Securities and Exchange Commission’s (“SEC’s”) increasing focus on disclosure and conflict-of-interest problems arising from how private equity fund (“PE Fund”) managers allocate expenses between management and fund investors.

This article summarizes the background of this focus on expense allocations and, drawing from the recent SEC enforcement actions focused on this issue, and identifies the types of both expenses and disclosures that have caught SEC attention.

After spending the first two or three years post Dodd-Frank raising awareness of these issues, the SEC has begun to impose large fines over expense-allocation conflicts and disclosure issues.

It is imperative for PE Fund managers to retain counsel to review their fund offering documents, expense allocation practices, and compliance programs to ensure consistency with the SEC’s recent decisions on these issues.

Practical guidance from experienced financial services lawyers.

In many different engineering fields often there is a need to protect regions from electromagnetic interference. According to static and low-frequency magnetic fields the common strategy bases on using a shield made of conductive or ferromagnetic material. Another screening technique uses solenoids that generate an opposite magnetic field to the external one. The purpose of this paper is to discuss the shielding effect for a magnetic and conducting cylindrical screen rotating in an external static magnetic field.

The magnetic flux density is expressed in terms of the magnetic vector potential. Applying the separation of variables method analytical solutions are obtained for an infinitely long magnetic conducting cylindrical screen rotating in a uniform static transverse magnetic field.

Analytical formulas of the shielding factor for a cylindrical screen of arbitrary conductivity and magnetic permeability are given. A magnetic Reynolds number is found to be an appropriate indication of the change in magnetic field inside the screen. Useful simplified expressions are presented.

This paper treats in a qualitative way the possibility of static magnetic field shielding by using rotating conducting magnetic cylindrical screens. Analytical solutions are given. If the angular velocity is equal to zero or the relative permeability of the shield is equal to one the shielding factor has forms well known from literature.

The purpose of this paper is to apply the conjugate gradient (CG) method, together with the adjoint operator (AO) to the pulsating heat pipe problem, including some quite interesting experimental results. The CG method, together with the AO, was able to estimate the unknown functions more efficiently than the other techniques presented in this paper. The estimation of local heat transfer coefficients, rather than the global ones, in pulsating heat pipes is a relatively new subject and presenting a robust, efficient and self-regularized inverse tool to estimate it, supported also by some experimental results, is the main purpose of this paper. To also increase the visibility and the general use of the paper to the heat transfer community, the authors include, as supplemental material, all numerical and experimental data used in this paper.

The approach was established on the solution of the inverse heat conduction problem in the wall by using as starting data the temperature measurements on the outer surface. The procedure is based on the CG method with AO. The here proposed approach was first verified adopting synthetic data and then it was validated with real cases regarding pulsating heat pipes.

An original fast methodology to estimate local convective heat flux is proposed. The procedure has been validated both numerically and experimentally. The procedure has been compared to other classical methods presenting some peculiar benefits.

The approach is suitable for pulsating heat pipes performance evaluation because these devices present a local heat flux distribution characterized by an important variation both in time and in space as a result of the complex flow patterns that are generated in this type of devices.

The procedure here proposed shows these benefits: it affords a general model of the heat conduction problem that is effortlessly customized for the particular case, it can be applied also to large datasets and it presents reduced computational expense.