News & Analysis as of

Hedge Funds Private Equity

McDermott Will & Emery

CA Senate amends AB 1415 to reinsert MSO reporting requirements

On June 27, 2025, the California Senate amended Assembly Bill (AB) 1415 to add back in a reporting requirement for management services organizations (MSOs) undergoing a sale of a material amount of assets or change of...more

Whiteford

Client Alert: Bankruptcy Meets State Court: Lessons from a $4M Escrow Dispute - June 30, 2025

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When bankruptcy courts and state courts vie for authority in complex financial disputes, the outcome can reshape recoveries for creditors, investors, and businesses. This tension was front and center in Silverman v....more

Proskauer Rose LLP

SEC Chairman Paul Atkins to Urge SEC to Rethink Private Fund 15% Threshold

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On May 19, 2025, the Securities and Exchange Commission’s (the “SEC”) Chairman Paul Atkins delivered prepared remarks before the SEC Speaks Conference hosted by the Practicing Law Institute (PLI). In his remarks, Atkins...more

Mintz - Health Care Viewpoints

Private Equity Group and Hedge Fund Bills Continue Through the California Legislature

California legislative activity focused upon private equity group and hedge fund health care transactions continues notwithstanding California Governor Gavin Newsom’s veto last fall of California Assembly Bill 3129 (AB-3129)....more

Snell & Wilmer

Proposed Senate Bill in California Would Strengthen Restrictions on Hedge Fund and Private Equity Investments in Healthcare

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On February 12, 2025, Senator Christopher Cabaldon introduced Senate Bill 351 (“SB 351” or “the bill”), to strengthen and codify the corporate practice of medicine doctrine (CPOM) in California as it relates to private equity...more

Latham & Watkins LLP

FCA and HM Treasury Consult on Proposals to Reform UK AIFMs Regulation

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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

Morgan Lewis - All Things FinReg

UK Government Signals Intention to Streamline the Regulation of Alternative Investment Fund Managers

The UK government has been pursuing a pro-growth agenda as one of its core missions, which has resulted in consultations on lighter-touch regimes to encourage investment, and the regulations which govern alternative...more

Quarles & Brady LLP

The California Legislature Revisits Limitations on and Oversight of PE Involvement in the Health Care Industry

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Lawmakers in California remain dedicated to increasing oversight and placing limitations on private equity (PE) and hedge fund involvement in the health care industry. However, the jury is still out as to whether these new...more

SEC Compliance Consultants, Inc. (SEC³)

Predictions for 2025: What Private Fund Advisers Can Expect from SEC Examinations

There has been a lot of conjecture that the SEC may become friendlier to registrants because of the new administration. Given the SEC’s mandate to protect the investing public, however, we do not expect SEC examiners to...more

Foley & Lardner LLP

California: AB 1415 and Expanded OHCA Oversight — What Providers, MSOs, and Investors Need to Know

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On February 21, 2025, California introduced AB 1415, a bill aimed at expanding the regulatory oversight of the Office of Health Care Affordability (OHCA). As discussed in our previous blog, certain health care entities are...more

Skadden, Arps, Slate, Meagher & Flom LLP

FCA’s Approach to Non-Bank Leverage and Implications for Market Participants

On 25 February 2025, Sarah Pritchard, executive director of consumers, competition, and international at the UK Financial Conduct Authority (FCA), delivered a speech at the Investment Association Roundtable where she outlined...more

Ropes & Gray LLP

2025 Market Outlook: Private Capital Firms Will Face Regulatory Scrutiny

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Alternative asset classes continue to mature, grow and attract investors. From continuation funds to asset management consolidation, the industry is poised for a dynamic 2025. The Asset Management industry is poised for a...more

Morrison & Foerster LLP

Extended Compliance Date for Recent Form PF Amendments

The new year always marks the start of a busy regulatory filing season for registered investment advisers, including investment advisers that file Form PF (“Form PF Filers”). This year could be especially challenging since,...more

Winstead PC

Trusts as Qualified Purchasers: Navigating the Qualified Purchaser Threshold for Trusts Investing in Private Securities

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This article is the third and final part in a series discussing trusts in the context of certain common investor thresholds for investment in private securities. This article will examine trusts as “qualified purchases” under...more

Paul Hastings LLP

U.K. Financial Institutions – New Guidelines on Acquisitions and Changes in Control

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The U.K.’s banking and financial services regulators have recently issued guidance updating their approach to handling applications to approve acquisitions of U.K.‑regulated businesses. This guidance is of interest to...more

Lowenstein Sandler LLP

Trade Matters - Lowenstein Sandler's Global Trade & National Security Newsletter - November 2024

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The Commerce Department issued new guidance for financial institutions on best practices for compliance with the Export Administration Regulations (EAR). Available here, the guidance emphasizes enhanced due diligence, ongoing...more

Fox Rothschild LLP

Changing Landscape: Increasing Scrutiny and Regulation of Health Care Transactions Despite the California AB 3129 Veto

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California Assembly Bill 3129 (“AB 3129”) would have targeted private equity and hedge fund investment in health care entities specifically. It would have required private equity and hedge fund groups to provide 90 days...more

Seward & Kissel LLP

Multi-Strat Funds: Structuring Considerations

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In a typical multi-strategy fund (“Multi-Strat”), a fund structure is established by an investment manager (the “Investment Manager”) that runs multiple investment strategy portfolios within it, oftentimes with different...more

Proskauer - Health Care Law Brief

California Governor Vetoes Transaction Review Law, But Bill’s Rapid Advancement Underscores a Shifting Regulatory Landscape

California Assembly Bill 3129 (“AB3129”), which targeted for regulatory review a variety of health care transactions involving “private equity groups” and “hedge funds,” was vetoed by Governor Gavin Newsom on September 28,...more

Weintraub Tobin

Disclosure Obligations Never Cease for California Healthcare Providers: A Roundup of Recent Legal Developments

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Corporate Transparency Act Updates as Compliance Deadline Looms; Longer Disclosure Period and Public Hearing Now Required for Maternity/Psych Unit Closures; and California Governor Vetoes Healthcare Transaction AG Approval...more

Troutman Pepper Locke

Private Funds CFO: Fees & Expenses Survey 2024

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Financial disclosure - A decade of growing transparency - Welcome to the 2024 Private Funds CFO Fees & Expenses Survey, which has been conducted biennially since 2014. The SEC’s Private Funds Rules have been...more

DLA Piper

California Governor Vetoes Further Legislative Efforts to Restrict Healthcare Investments and Management Relationships

DLA Piper on

On September 28, 2024, California Governor Gavin Newsom vetoed AB 3129, which would have required qualifying private equity groups, hedge funds, and any associated portfolio companies to notify and obtain written consent from...more

Alston & Bird

One Step Back and One Step Forward for Health Care Deals in California

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Private equity groups looking to invest in California’s health care industry breathed a sigh of relief when the governor vetoed California’s AB 3129. Our Health Care Group explains why health care transactions in the state...more

Holland & Knight LLP

California Governor Vetoes Assembly Bill 3129: What's Next?

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California Gov. Gavin Newsom on Sept. 28, 2024, vetoed Assembly Bill (AB) 3129, a law that would have required private equity and hedge funds – and in some cases, their platform companies – to obtain the California Attorney...more

Mintz - Health Care Viewpoints

California Governor Vetoes Private Equity and Hedge Fund Health Care Transaction Review Law (AB-3129)

On September 28, 2024, California Governor Gavin Newsom vetoed California Assembly Bill 3129 (AB-3129) originally introduced by California Attorney General Rob Bonta (AG) and Assembly Speaker pro Tempore Jim Wood and passed...more

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