Investment Management Roundtable Discussion – Data Privacy and Security
The Treasury and the Financial Conduct Authority are seeking industry views on proposals to change the regulatory framework for fund managers in the United Kingdom. On 7 April 2025, the Treasury issued a Consultation Paper...more
The proposals aim to make the UK regime more proportionate and suggest different rules applying to hedge funds, venture capital firms, and private equity houses. On 7 April 2025, the FCA published a Call for Input, and HM...more
The Luxembourg Stock Exchange has announced the launch of a new segment on its Euro MTF market, called EM3S, which stands for Euro MTF Specialist Securities Segment. This new segment may be an interesting option for issuers...more
Managers are often able to secure more-flexible recycling provisions, enabling them to reinvest a wider range of proceeds, often within an overall cap on amounts....more
The Specialised Investment Fund (SIF) regime was established in Luxembourg by the Law of 13 February 2007 (the “SIF Law”). The SIF regime’s purpose was to offer great flexibility on investment scope while structuring and...more
In the last 12 months, we have seen private debt markets take off over other strategies. In particular, there are now more creative ways of bringing in new types of investors to this asset class, including insurers, pension...more
The scope of application of the VAT exemption for the management of AIFs has been extended to all AIFs within the meaning of Section 1 (3) KAGB from 2024, meaning that the previously applicable similarity test no longer...more
We are delighted to bring you this edition of Spotlight Magazine, the content of which has come at just the right time, with it becoming increasingly apparent that we are in the midst of a global regulatory refresh of the...more
We are often asked by clients and non-Irish law firms in the context of fund finance transactions about using fund structures established under the revamped Irish Investment Limited Partnership (“ILP”) regime, and, in...more
July 6, 2022 While many alternative investment manager founders (“Founders”) opt to wind down their businesses over time, there is an increasing number who instead seek to pass the baton onto the next generation of talent at...more
One form of transaction not historically seen is the use of RWI for “secondaries.” While that term means different things, in this case, the focus is Private Equity secondaries, which refer to the buying and selling of...more
As mentioned in our latest briefing note, the UK Financial Conduct Authority (FCA) published its final rules and guidance (the “Rules”) setting out the requirements under a new climate-related disclosure regime for certain...more
What are the trends, risks, and opportunities in 2022? As dealmakers recover from a record-breaking 2021, we expect another busy year in 2022. While risks in the financing market, the tightening of the regulatory...more
The United Kingdom Financial Conduct Authority (“FCA”) has published a consultation on proposals relating to a new type of fund product to support investment in long-term, illiquid assets. The intention is that the Long Term...more
Gregory J. Nowak, a partner and practice leader for hedge funds in Pepper Hamilton’s Private Fund Services Practice Group, hosts a series of candid, interactive webinar discussions for West LegalEdcenter on what is going on...more
Pre-marketing and reverse solicitation of alternative investment funds in Europe. The European Commission originally announced a proposal for a supplementary AIFM Directive (AIFMD 2) approximately sixteen months ago. After...more
ILPA Updates Its Best Practices Guidance in “Principles 3.0.” Responding to private equity and other alternative asset investment trends and new issues, the Institutional Limited Partners Association (ILPA) recently released...more
An update on the AIFMD amending directive - The European Commission originally announced a proposal for a supplementary AIFM Directive in March 2018. The terms of the proposed amending directive have now been finalised and...more
A Cerulli report (for purchase) shows interest in alternative investments is growing, with mean allocations climbing to 7.2%, up from 5.7%. Nearly 40% of all advisers used alternative funds, excluding liquid alternatives. ...more
Wealth Management had the opportunity to interview Mike Gill, Portfolio Manager, and the investment committee of Cornerstone Advisory....more
PENSION SCHEME INVESTMENT - New investment could have faced trustees with unlimited liability - Our investment funds team recently identified some highly detrimental terms, including potential unlimited liability, in...more
If you’re planning to raise a non-EU PE / VC fund, and some of your investors will be in the UK when you talk or write to them, the UK’s financial promotions rules will apply. Get this wrong, and you’ll commit an offence. Get...more
Pepper Hamilton LLP, a multi-practice law firm that represents private equity clients throughout the life cycle of an investment fund, recently partnered with PEF Services and PEI to conduct a survey of 104 U.S. alternative...more
Although AIFMD took effect in key EU member states in 2013, in practice, its one-year grace period largely gave managers of alternative investment funds an opportunity to postpone compliance until 22 July 2014....more
The EU Alternative Investment Fund Managers Directive (AIFMD) has now been in force for several months. This overview note is aimed at US managers who have not yet had to get to grips with the AIFMD but will need to raise...more