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Fifth Circuit Vacates SEC Private Fund Adviser Rules

The U.S. Court of Appeals for the Fifth Circuit held that the new SEC regulation of private fund advisers exceeded the agency's statutory authority....more

SEC's Proposed Rules Target Advisers to Private Funds

On February 9, 2022, the SEC proposed new rules focused on private fund advisers' practices, reporting, and disclosures ("Proposed Rules"). The Proposed Rules would apply to all SEC registered advisers to private funds, and a...more

2021 Transactional Year in Review and 2022 Forecast: FDI Regimes Continue to Expand and Increase Scrutiny of Transactions...

China  China has increased its efforts to scrutinize global transactions that may implicate national security concerns using its foreign investment security review ("FISR") process....more

2021 Transactional Year in Review and 2022 Forecast: Until Enacted or Withdrawn, Proposed U.S. Tax Reform Continues to Have an...

Since early 2021, Congress has been working on legislation that would alter the U.S. tax laws and potentially have a significant impact on M&A and private equity transactions....more

2017 Annual Private Equity Review

A MESSAGE FROM OUR GLOBAL PRIVATE EQUITY PRACTICE LEADERS - Despite the continued downward trend following record levels in 2015, 2017 was the fourth-strongest annual period in the history of dealmaking on a global basis....more

SEC's Unwavering Focus on Disclosure of Valuation Methods and Calculation of IRRs by Fund Sponsors

The recent SEC subpoena of a fund sponsor for additional information concerning how it calculates internal rates of return ("IRRs") indicates that investment performance disclosure, and specifically the calculation of IRRs,...more

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