A New Brand of Uncertainty? — PE Pathways Podcast
The Preferred Return Podcast | Balancing Act: Strategies for GPs and LPs in Today's Market
Evolving Landscape of Secondary Transactions in Private Equity — PE Pathways Podcast
2025 Perspectives in Private Equity
Maximizing Financial Growth: Insights on HSAs and Smart Investment Strategies with Shaun Eddy
Investment Opportunities in Italy's Tech Market
The Preferred Return Podcast | AIFMD II – Implementation Begins
JONES DAY TALKS®: Corporate Venture Capital: Market Overview, Trends in Deal Terms, and Special Considerations
A 2024 Economic Outlook - Troutman Pepper Podcast
Business Better Podcast Episode: Investing in Consumer Brands – A Conversation with SBJ Capital
New SEC Private Funds Rules – What Is Happening and What You Need to Know - Troutman Pepper Podcast
PLI's inSecurities Podcast - Alternative Asset Managers in the Crosshairs
Cornerstone Research Experts in Focus: Jules van Binsbergen
Private Equity Perspectives: Episode Three – Interest Rates and PE Deals
International News Spotlight on Private Equity and Private Wealth with Merrick White
Nota Bene Episode 111: Charting the New World of Music Royalty Investment with Sid Fohrman
Digital Health Trends Shaping 2021: Prioritizing Diversity & Striving for Greater Representation
2020: An Unprecedented Year for Digital Health
Nota Bene Episode 106: The Corporate Investor Movement Toward Environmental, Social, and Governmental Policies with Allison Troianos and Ariel Yehezkel
Dark Side of the Moon
The UK tax regime for carried interest is being substantially revised from April 2026. This Alert focuses on one particular aspect: the changes to how credit funds should calculate the average holding period (AHP) of their...more
On August 7, 2025, President Trump issued an executive order titled “Democratizing Access to Alternative Assets for 401(k) Investors.” The order seeks to clarify the obligations of Employee Retirement Income Security Act...more
Introduction - Concentration limits are a familiar risk-management tool for lenders in subscription line facilities. By capping the amount of borrowing base credit that can be attributed to any single investor or group of...more
Private credit is no longer a niche asset class in the Middle East. Amid bank retrenchment, regulatory shifts and increasing institutional appetite for non-correlated yield, private credit has moved to the mainstream. As...more
In July 2025 HM Treasury and the Home Office issued the UK National Risk Assessment of Money Laundering and Terrorist Financing 2025 ('NRA 2025'), while the European Banking Authority (EBA) published its fifth Opinion on...more
Entwurf eines Fondsrisikobegrenzungsgesetzes veröffentlicht - Anfang August 2025 hat das Bundesministerium der Finanzen den Referentenentwurf eines Gesetzes zur Begrenzung der Risiken durch Investmentfonds und zur...more
On 24 July 2025, the Luxembourg government introduced Bill No. 8590 (the Bill), which proposes a new competitive carried interest tax regime with the stated objectives being: to create a legal framework that fosters the...more
On 24 July 2025, a draft bill (the Bill) proposing significant amendments to the law of 4 December 1967 on income tax and the law of 12 July 2013 on alternative investment fund managers (AIFMs) was submitted to the Luxembourg...more
Fund secondaries transactions have grown enormously over the last 20 years or so. Recently, funds have been under pressure to return capital to investors in the context of a range of market constraints on traditional exit...more
On 9 July 2025, the Capital Market Authority (the “CMA”) has announced a series of significant regulatory enhancements aimed at furthering the development of the Kingdom’s investment fund industry. These amendments, effective...more
Guernsey, located in the English Channel, is one of the world’s largest offshore finance centres, with a thriving funds industry. The value of funds under management and administration in Guernsey is US$532bn. Guernsey is an...more
A majority of private fund managers set the clawback limit at 25%, but they calculate the clawback differently depending on fund type. Limited partner (LP) clawback provisions enable fund managers to call back previously...more
In a previous alert, “FCA D&I Standards for Large Firms Abandoned (for now), Non-financial Misconduct Rules Delayed (but Still Important),” we discussed the proposals put forward by the UK Financial Conduct Authority (FCA)...more
Hong Kong’s status as an open jurisdiction offers hedge fund managers unparalleled flexibility to choose the domicile of their fund structure, free from restrictive local mandates. This allows managers to align their fund’s...more
On June 10, 2025, the U.S. Court of Appeals for the Ninth Circuit reversed the dismissal of a securities class action after finding the plaintiff sufficiently alleged a real estate investment fund and its managing executive...more
Key Points - - Under Hong Kong’s liberal regulations, several dozen asset managers have been licensed to manage virtual asset funds. - A number of index funds, tied to individual cryptocurrencies and baskets, have also...more
The use of Guernsey umbrella structures for both regulated and unregulated investment structures has seen a notable rise over the past 18 months. Where these structures have typically been used for larger, master fund/...more
On 30 June 2025, the European Securities and Markets Authority (ESMA) published its Final Report on the 2023-2024 Common Supervisory Action (CSA) concerning the integration of sustainability risks and disclosures within the...more
The funds industry continues to wait for regulators and legislators to review and fix the multiple flaws in the existing SFDR regime. In the meantime, in July 2023, ESMA launched a “common supervisory action” ("CSA”)...more
Japanese regulators have been significantly amending the Financial Instruments and Exchange Act (FIEA), similar to other jurisdictions seeking to innovate and relax regulatory requirements in order to help spur economic...more
This publication focuses on the key issue currently facing managers of open-ended real estate funds offered to institutional investors: the difficulty of striking reliable valuations of properties under the economically...more
A number of responses to the Consultation and Call for Input: Future regulation of alternative fund managers published by HM Treasury and the FCA on 7 April have been recently published. These reveal a diversity of views...more
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) fined GVA Capital Ltd. $215 million, primarily for violating the Ukraine/Russia-related sanctions regulations, when GVA mistakenly concluded that it...more
On May 28, 2025, in Soroban Capital Partners LP v. Commissioner (T.C. Memo 2025-52) (“Soroban II”), the Tax Court held the active role of limited partners in a fund manager caused them to fail to qualify as “limited partners”...more
FUNDamentals is a periodic digest of news and information specifically for private funds and their managers. In this issue, we highlight some fundraising trends, new marketing rule FAQs, fund liquidity trends (limited...more