PwC recently completed its 2015 Alternative Asset Manager Benchmarking Survey, which explores key industry metrics in the areas of governance, valuation and fund administration.  As noted by Mike Greenstein, PwC’s U.S. and global alternative asset management leader, “Investor expectations and regulatory requirements have put governance squarely on the agenda of alternative asset managers.”  This article summarizes the results of the governance portion of the survey.  For more on governance, see “DMS Review Highlights Issues with Regulation, Institutionalization and Customization of Hedge Funds,” Hedge Fund Law Report, Vol. 8, No. 20 (May 21, 2015).  For additional commentary from PwC, see “PwC White Paper Explores Hedge Fund Manager M&A Activity,” Hedge Fund Law Report, Vol. 8, No. 29 (Jul. 23, 2015).