I am looking for guidelines regarding the length of time a private
equity fund should retain emails as a matter of records retention
policy.  Is there any common industry practice regarding length of
retention, for example 3 years or 5 years?  Are there any other
specific guidelines?  (I am not looking for general guidelines such as
"think about relevant statutes", or "don't destroy records if
investigations are pending", etc.  Also, I am aware that registered
investment advisers have a suggested 5-year retention policy under
current SEC rules.)