FUND PRIVACY NOTICE
Updated January 2025
Introduction
The purpose of this Privacy Notice is to provide you with information on our use of Investor Data (as defined below) in accordance with applicable privacy laws that may be enacted from time to time, including the Data Protection Law, 2017 of the Cayman Islands (the “DPL”), the California Consumer Privacy Act (the “CCPA”) and similar state privacy laws in the United States, and the General Data Protection Regulation (the “GDPR”), as applicable.
In this Privacy Notice, “we,” “us,” and “our” refers collectively to the Fund, the General Partner, Providence Equity Partners L.L.C. (the “Investment Manager”) and its or their affiliates. References to the “Fund” refer to the particular investment fund(s) to which you are, or seek to be, admitted which are managed whether directly or indirectly by the Investment Manager, and references to the “General Partner” refer to the general partner or similarly placed entity of such Fund.
Investor Data
“Investor Data” means personal information that reasonably can be associated or linked to you or any other individual person or household, and includes personal information on yourself that you provide to us, as well as the personal information of individuals connected with you as an investor (for example directors, trustees, employees, representatives, shareholders, investors, clients, beneficial owners or agents).
In our use of Investor Data, the Fund, General Partner and Investment Manager are each characterized as a “data controller”, “controller” or “business” under various legal regimes including DPL, GDPR, and CCPA, as applicable. Except as otherwise described in this Privacy Notice, the affiliates and delegates of the Fund, General Partner and Investment Manager may act as “data processors”, “processors” or “service providers.”
If you are a natural person, this will affect you directly. If you are a corporate investor (including, for these purposes, legal arrangements such as trusts or exempted limited partnerships) that provides us with Investor Data on individuals connected to you for any reason in relation to your investment with us, this will be relevant for those individuals and you should transmit this document to such individuals or otherwise advise them of its content.
What Investor Data do we collect and how?
We collect and process (or otherwise verify) the following forms of Investor Data:
It is important that we maintain up to date records of key information about you. Please notify us of any significant changes in your personal circumstances as soon as they occur (e.g., change of name, address, contact information etc.). From time to time we may ask you to complete a new Investor Data form to ensure our records are up to date.
Sources of Investor Data
We collect this Investor Data in various ways, including through:
How and on what basis do we use Investor Data?
We use Investor Data for a variety of reasonable and legitimate business purposes, including, but not limited to, the following:
i. where it is necessary to enter into or for the performance of our rights and obligations under a contract with you or to take steps at your request prior to entering into a contract (e.g., to process your subscription agreement and/or the constitutional and operational documents of the Fund, provide information you have requested, create and administer your account, administer your investments, maintain registers and communicate with you about your investments);
ii. where it is necessary for compliance with legal and regulatory obligations to which we are subject (such as compliance with know-your-customer, anti-money laundering and FATCA/CRS requirements) – this may involve collecting specific Investor Data about you where required by law and disclosing such information to applicable regulators, government bodies, tax and other authorities;
iii. where it is necessary for our, our affiliates’, delegates’ and/or other third parties’ legitimate interests (and such interests are not overridden by your interests, fundamental rights or freedoms) or (if required by law) with your consent, including to operate and facilitate our business and services to you, undertake business management, planning, statistical analysis, market research and marketing (including email marketing) activities, administer and maintain our core records, protect our rights and interests, ensure the security of our assets, systems and networks, prevent, detect and investigate fraud, unlawful or criminal activities in relation to our services, and enforce our terms and conditions; and/or
iv. where it is necessary for the establishment, exercise or defense of legal claims.
Where we process Investor Data about you on the basis of your consent, you have the right to withdraw that consent at any time. If you decline to provide or withdraw your consent to our use of Investor Data about you and, under applicable law, we are relying on such consent as the legal basis for its processing, there are circumstances in which we will not be able to provide you with certain services or take particular action on your behalf.
Where we process Investor Data about you on the basis of our or a third party’s legitimate interests, we may do so for our or our affiliates’, delegates’ and/or other third parties’ everyday business purposes—such as to process your transactions, maintain your account(s)—or respond to court orders and legal investigations. To the extent permitted by law (including with your consent, where required), we may also process Investor Data about you to offer or market products or services to you (including by email), or permit authorized third parties to offer or market their services to you.
Should we wish to use Investor Data for other specific purposes (including, if applicable, any purpose that requires your consent), we will contact you. We will not use Investor Data for any purposes inconsistent with this Privacy Notice without your permission.
With whom do we share Investor Data?
We may share Investor Data to carry out and implement any and all purposes described above, and for the objects of the Fund, including:
i. With our affiliates and delegates that may act as data processors, processors or service providers (the “Delegates”), such as the Fund’s administrators, accountants, auditors, bankers, prime brokers, insurers, lawyers, AML service providers, tax information exchange service providers and other back-office service providers, which may use Investor Data, for example, to provide their services to us or to discharge the legal, regulatory, or self-regulatory requirements that apply directly to us or in respect of which we rely upon the Delegates provided that, such use of Investor Data by the Delegates will always be compatible with at least one of the aforementioned purposes for which we process Investor Data. The Delegates will not retain, use, sell or otherwise disclose Investor Data for any purpose other than the specific business purpose for which we have provided the information to the Delegate.
ii. With regulatory, self-regulatory, administrative, law enforcement agencies, or other oversight bodies in certain circumstances where we and/or our Delegates are obliged to share Investor Data and other information with respect to your interest in the Fund with the relevant regulatory authorities such as the Cayman Islands Monetary Authority, the Tax Information Authority, or the U.S. Securities and Exchange Commission. They, in turn, may exchange this information with foreign authorities, including tax authorities.
iii. As authorized, for example, by subscription agreements or organizational documents of the Fund and as authorized by you or your designated representatives.
iv. As necessary for us to enter into or to perform a contract with you (e.g., to process your subscription agreement, provide information you have requested, create and administer your account, administer your investments, maintain registers and communicate with you about your investments).
v. As necessary for our, or a third party’s, legitimate business interests.
vi. In connection with certain business transactions, with a third party that succeeds the Investment Manager or General Partner in carrying on all or a part of our business or if the Fund is otherwise sold or transferred to a third party.
vii. As required by law, regulation, or self-regulatory requirement, including to comply with a subpoena or similar legal process, including when we believe in good faith that disclosure is legally required.
We do not sell any Investor Data or share Investor Data for the purpose of cross-context behavioral advertising, and have not done so in the past 12 months.
International Data Transfers
Because the Internet and our operations are global, your personal information may be transferred to, processed in, and held in countries (including the United States) other than the one in which you reside, or in which the Fund is established. The European Union, United Kingdom and Cayman Islands do not consider the United States and many other countries to provide essentially equivalent privacy protections. Such transfers are a necessary part of the services that we provide.
We will ensure application of the same standards of privacy protection as set out in this Privacy Notice regardless of the international transfer or processing of personal data. To the extent required by, and in accordance with, applicable data protection laws, we rely on appropriate or suitable safeguards in respect of international transfers of personal information, including:
i. Using standard contractual clauses approved by relevant authorities as ensuring adequate safeguards;
ii. Obtaining your consent to transfer Investor Data about you after first informing you about the possible risks of such a transfer;
iii. When the transfer is necessary for the performance of a contract between you and us, or if the transfer is necessary for the performance of a contract between us and a third party, and the contract was entered into in your interest; and
iv. When the transfer is necessary to establish, exercise or defend legal claims.
How do we protect Investor Data?
Any processing of Investor Data by us or our duly authorized Delegates shall be in accordance with all applicable legal requirements, including those of the DPL and GDPR.
We and our duly authorized Delegates shall apply appropriate technical, physical, and administrative information security measures that are reasonably designed to protect against unauthorized or unlawful processing of Investor Data, and against accidental loss or destruction of, or damage to, Investor Data.
How long do we retain Investor Data?
We retain Investor Data only for as long as is necessary for the purposes set out in this Privacy Notice, subject to your rights, under certain circumstances, to have your data erased.
When deciding how long to retain Investor Data, we take into account our legal and regulatory obligations, the amount, nature, and sensitivity of the Investor Data, the potential risk of harm from unauthorized use or disclosure of Investor Data, the purposes for which we process Investor Data and whether we can achieve those purposes through other means. We may also retain Investor Data to investigate or defend against potential legal claims in accordance with the limitation periods of countries where legal action may be brought.
Contact and Complaints
We take very seriously any complaints we receive about our use of Investor Data. If you have questions, comments, requests or complaints regarding this Privacy Notice, or wish to discuss your data protection rights with us, please contact Sarah Conde at 212-588-6752.
Data Subject Rights
Individuals in a growing number of jurisdictions may have certain data subject rights. These rights vary, but they may include, subject to certain limitations, the right for individuals to: (i) request access to and rectification or erasure of their personal data; (ii) restrict or object to the processing of their personal data; and (iii) obtain a copy of their personal data in a portable format. Individuals may also have the right to lodge a complaint about the processing of personal data with a data protection or supervisory authority.
California’s “Shine the Light” law permits California residents to annually request and obtain information free of charge about what personal information is disclosed to third parties for direct marketing purposes in the preceding calendar year. We do not distribute your personal information to outside parties without your consent for their direct marketing.
How to exercise your Data Subject Rights
To exercise any of these rights, please contact us by calling 1-877-312-3035 or emailing privacy@provequity.com.
Depending on your jurisdiction, you may also be entitled to direct any complaints in relation to our processing of Investor Data to your national or local data protection or supervisory authority.
Individuals who submit requests for access or erasure of personal information will be required to verify their identity by answering certain questions. We will not disclose or delete any information until such individual’s identity is verified.
You may designate an authorized agent to submit a request on your behalf by providing that agent with your written permission. If an agent makes a request on your behalf, we may still ask that you verify your identity directly with us before we can honor the request.
Agents who make requests on behalf of individuals will be required to verify the request by submitting written authorization from the individual. We will not honor any requests from agents until authorization is verified.
Non-Discrimination
We will not discriminate against you based on the exercise of your privacy rights.
Children’s Privacy
We are committed to protecting the privacy needs of children and we encourage parents and guardians to take an active role in their children’s online activities and interests. Our services are not intended for and may not be used by children under the age of 13. We do not knowingly collect information from children under the age of 13 and we do not target children under the age of 13.
Linked Sites
Any links to third-party websites contained in this Privacy Notice are provided strictly for your convenience. We make no warranty or representation regarding, and do not accept any responsibility for, such websites or the information appearing thereon or any of the products or services described thereon. You acknowledge and agree that use of third-party websites is strictly at your own risk.
Online Privacy Policy
Our Online Privacy Policy can be accessed at https://www.provequity.com/privacy-policy.
The Online Privacy Policy applies to all natural persons who are not covered by either our Fund Privacy Policy or our employee privacy notice.
