Emerging Trend: TA Associates Hands LPs $38M Refund for Clawback –

TA Associates has taken a preemptive move to avoid an eventual clawback obligation. It returned $38 million to investors in late August, says Kevin Landry, chief executive officer of the giant private equity firm. The move follows a decision by Spectrum Equity Investors to reduce its fees to offset a clawback obligation for its 1999 fund (