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Investment Funds Investment

Morgan Lewis

Corporate Venture Capital Survey: Q2 2025

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Our second quarter 2025 corporate venture capital (CVC) survey indicators continue to show challenging market conditions. However, valuations are on the rise in surveyed transactions. In this survey, we track investment...more

Carlton Fields

Everyday Investor Participation in Private Strategies: What Role for Investor Advocate in SEC Drama?

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The SEC is under pressure to increase direct or indirect participation by everyday “retail” investors (consisting primarily of those who do not qualify as “accredited investors” under SEC Regulation D) in certain investment...more

Jones Day

Crypto Exchange-Traded Products: Navigating the Intersection of Crypto and Securities

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Direct ownership of crypto-assets or mere exposure to the value of crypto-assets is an investment decision, with both investment methods requiring specific approaches to mitigate and manage risks effectively....more

Orrick, Herrington & Sutcliffe LLP

Labor Dept. permits fiduciaries to consider alternative investments for 401(k)s

On August 12, the U.S. Department of Labor’s Employee Benefits Security Administration rescinded guidance from December 2021 that discouraged fiduciaries from considering alternative assets in the list of investment options...more

McGuireWoods LLP

Healthcare & Life Sciences Private Equity Deal Tracker: KKR Recapitalizes DentalXChange

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KKR & Co. has announced a recapitalization of DentalXChange. DentalXChange, founded in 1989 and based in Irvine, California, is a provider of revenue cycle management solutions for the U.S. dental market....more

McGuireWoods LLP

Healthcare & Life Sciences Private Equity Deal Tracker: Brightstar Acquires Analyte Health

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Brightstar Capital Partners has announced the acquisition of Analyte Health. Analyte, founded in 2010 and based in Houston, is a digital health company that provides direct-to-consumer diagnostics and treatment, with...more

McGuireWoods LLP

Healthcare & Life Sciences Private Equity Deal Tracker: KKR Acquires HCRx

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KKR & Co. has announced it has acquired a majority ownership stake in HealthCare Royalty Partners (HCRx)....more

McGuireWoods LLP

Skyline Closes Inaugural Fund With $125 Million

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Skyline Investors has announced the close of a new fund. The firm’s inaugural fund closed at its target of $125 million....more

Alston & Bird

FINRA Delays Implementation Date for Previously Adopted Changes to Filing Fees for Public Offering and Private Placement Reviews

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New fees from the Financial Industry Regulatory Authority (FINRA) are now on hold until 2027. Our Investment Funds Team examines the new schedule for public offering and private placement reviews....more

Hogan Lovells

SBIC Program updates: SBA proposes regulatory amendments related to SBIC Program

Hogan Lovells on

On July 7, 2025, the U.S. Small Business Administration (SBA) issued a notice of proposed rulemaking related to SBIC Applicants and Licensees. The proposed rulemaking is open for comment until September 5, 2025. A summary of...more

McGuireWoods LLP

Heritage Group Closes New Fund With $370 Million

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Heritage Group has announced the close of a new fund. The fund — Heritage Healthcare Innovation Fund IV — closed at over $370 million....more

Troutman Pepper Locke

A New Brand of Uncertainty? — PE Pathways Podcast

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Partner Jeremy Levy hosted the first live recording of PE Pathways at Troutman Pepper Locke's third annual Private Equity Perspectives Summit, held this year in Kohler, WI. Jeremy was joined by Troutman Pepper Locke Partner...more

Ropes & Gray LLP

SFDR Review Potentially Delayed to Q1 2026

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Whilst not unexpected, the long-awaited review of the EU Sustainable Finance Disclosure Regulation (SFDR), originally scheduled for Q4 2025, is now likely to be delayed to Q1 2026. This follows the public and targeted...more

A&O Shearman

Mansion House: Leeds Reforms

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HM Treasury has published a press release confirming a significant package of measures aimed at making the UK the prime destination for financial services by 2035, referred to as the "Leeds Reforms"...more

McGuireWoods LLP

Thurston Closes New Fund With $211 Million

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Thurston Group has announced the close of a new fund. The fund — Thurston Fund III — closed at $211 million. It was oversubscribed....more

Walkers

Key changes in the newly revised JPF Guide

Walkers on

Earlier today the Jersey Financial Services Commission (JFSC) published a revised version of the Jersey Private Fund Guide (JPF Guide). The new JPF Guide, and a new statutory instrument, the Collective Investment Funds...more

Stikeman Elliott LLP

OSC Publishes 2025 Examination Priorities for Dealers, Advisers, Investment Fund Managers and Other Regulated Entities

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The Registration, Inspections and Examinations Division (“RIE”) of the Ontario Securities Commission (“OSC”) has released its 2025 examination priorities, which are informed by the OSC’s 2024-2030 Strategic Plan as well as...more

Bennett Jones LLP

New CSA Amendments Regarding Investments in Crypto Assets Come into Force

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New amendments and changes to National Instrument 81-102 Investment Funds (NI 81-102) and its Companion Policy 81-102CP took effect on July 16, 2025, regulating public investment funds that invest in crypto assets....more

McGuireWoods LLP

Lorient Closes New Fund With $500 Million

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Lorient Capital has announced the close of a new fund. The fund — Lorient Healthcare Fund III — close at $500 million. It was oversubscribed, surpassing its $350 million target....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Overpaying for Underperformance: A Fiduciary Breakdown in Plain Sight

A massive new study by Abernathy-Daley covering nearly 58,000 corporate 401(k) plans delivered a simple—but startling—message: virtually every plan suffers from overpriced, underperforming funds. In fact, 99% of plans have at...more

Troutman Pepper Locke

The One Big Beautiful Bill Act: Analysis of Key Provisions for Investment Funds and Sponsors

Troutman Pepper Locke on

On July 4, 2025, President Donald Trump signed H.R. 1 into law, the budget reconciliation bill known as the One Big Beautiful Bill Act (the Act). As discussed in our prior alert following the passage by the House of...more

Ropes & Gray LLP

Negotiating Economics: What are the Different Advantages of Co-Investment for GPs and LPs?

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GPs are increasingly exploring formalised co-investment structures in a bid to secure management fees and carried interest. Co-investment activity has increased fivefold over the past two decades, hitting a record $33.2...more

Fenwick & West LLP

SEC Division of Corporation Finance Issues Statement on Crypto Asset Exchange-Traded Products

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On July 1, the SEC’s Division of Corporation Finance (Corp Fin) issued a statement regarding Crypto Asset Exchange-Traded Products (crypto asset ETPs). Crypto asset ETPs are investment products that are listed and traded...more

Walkers

ESMA advice on the review of the UCITS Eligible Assets Directive

Walkers on

On 26 June 2025, ESMA published its keenly awaited technical advice to the Commission on the review of the UCITS Eligible Assets Directive 2007/16/EC (EAD). The report assesses EAD implementation across member states and...more

Walkers

Going solo: Guernsey structures for single investor or single asset mandates

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Guernsey has established itself as a sophisticated, stable jurisdiction for the structuring of alternative investment funds and bespoke vehicles. Among its suite of offerings, Guernsey permits the formation of unregulated...more

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