The Division of Investment Management of the U.S. Securities and Exchange Commission (the SEC) released new guidance on March 19, 2025 that replaces and relaxes prior guidance for registered investment advisers (RIAs) with...more
It is now no longer uncommon that as a condition to approving the transfer of a limited partner ("LP") interest in a private fund, the general partner ("GP") of such fund may seek a stapled primary commitment to its newest...more
For the investment teams of pension funds, endowment funds, family offices and similar institutional investors investing in private funds, barely a week goes by without their inboxes filling up with a long election booklet...more
The United States (U.S.) Securities and Exchange Commission (SEC) has passed new rules imposing new requirements and obligations on the private fund industry. Whilst the rules are significantly less onerous than originally...more
The U.S. Securities and Exchange Commission (SEC) adopted final private fund rules under the U.S. Investment Advisers Act of 1940 (the Advisers Act) on August 23, 2023. Although the final rules are significantly less onerous...more
The U.S. Securities and Exchange Commission (SEC) adopted final amendments to Form PF, the confidential reporting form required for certain SEC-registered investment advisers (RIAs) to private funds, on 3 May 2023. The...more
On February 7, the Division of Examinations within the U.S. Securities and Exchange Commission (the SEC) released its annual list of examination priorities for investment advisers regulated by the SEC under the U.S....more
The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) proposed joint amendments to Form PF, a confidential reporting form required of certain SEC-registered investment advisers...more
8/23/2022
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Securities and Exchange Commission (SEC)
On March 29, the Division of Examinations1 (the Division) within the U.S. Securities and Exchange Commission (the SEC) released its annual list of examination priorities for investment advisers regulated by the SEC under the...more
The U.S. Securities and Exchange Commission (SEC) proposed new rules promulgated under the U.S. Advisers Act of 1940 (the Advisers Act) on Wednesday, 9 February 2022. Pointing to over US$18 trillion in assets under private...more
GP-led Fund Restructurings have become an increasingly important part of the private equity secondaries market, accounting for 40% of 2018's US$70 billion secondaries activity according to ILPA....more