Private Equity Fund Fees -- Exempt from Disclosure?

Recent focus on the fees and expenses charged to clients by private equity firms has caused a ripple on the public records pool as these firms work to keep what they charge public pension funds under wraps.  The Wall Street Journal has reported on its efforts to obtain fee and expense data and the resistance the paper has met.  This is not the first, nor will it be the last battle that plays our around whether this type of information is in fact secret under trade secrets exemptions contained in state open records laws.  Read the WSJ story here.