News & Analysis as of

Limited Partnerships Asset Management

Goodwin

Convergence and Flexibility: LP Clawback Provisions in Private Funds

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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

Goodwin

Extending Fund Lifespans: Typical Durations and Consent Requirements

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As noted in our previous article, the lifespan of a closed-end fund typically ranges from 8 to 12 years, depending on the asset class. However, to provide flexibility to deal with issues related to illiquidity of assets,...more

SEC Compliance Consultants, Inc. (SEC³)

Latest SEC Document Request Lists: What Private Fund Managers Should be Worrying About

Many private fund managers are breathing a sigh of relief after the Fifth Circuit struck down the Private Fund Rules (check out our blog post for more information). Do not, however, assume the SEC will stop its aggressive...more

Smith Anderson

What Limited Partners Should Know About Soroban

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The Tax Court’s use of a functional analysis test to determine limited partner status in Soroban Capital Partners LP has had a ripple effect in the world of asset management. The decision’s impact will be felt in the tax and...more

Foley & Lardner LLP

Another Fund Manager Sues IRS Over Application of “Limited Partner” Exception to Self-Employment Taxes

Foley & Lardner LLP on

On August 11, 2023, Stamford, Connecticut-based hedge fund manager Point72 Asset Management (“Point72”) filed a petition with the Tax Court contesting the IRS’s position that its owner, billionaire and New York Mets team...more

Gerald Nowotny - Law Office of Gerald R....

THE ACCIDENTAL ENTREPRENEUR

Best way to structure your business to own multiple businesses in real estate and investment activities. Key benefits: Management and Control, Asset Protection, No FICA and Medicare Withholding and Ability to stagger a tax...more

Proskauer Rose LLP

The Arrival of Hong Kong’s Limited Partnership Fund Regime

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Hong Kong’s private funds industry is on the verge of benefitting from further significant changes in local laws designed to make Hong Kong more attractive as a centre for private funds and their managers. On 31 August 2020,...more

Goodwin

Hong Kong to Revamp Limited Partnership Regime to Attract Private Funds

Goodwin on

Hong Kong has a strong reputation as a global and regional hub for the asset management and funds industry and is clearly looking to maintain and improve its competitiveness in this sector. In the recent 2020-2021 Budget, and...more

Latham & Watkins LLP

Fund-to-Fund Transfers on the Rise as Deal Flow Slows

Latham & Watkins LLP on

Negotiating market price, fund economics, management and other investors, documents, and approvals are key to leveraging fund-to-fund transfers. Following significant fundraising activity, sponsors have substantial capital...more

Morgan Lewis

GPs Operating in Japan: Follow-Up Information Disclosures for Article 63 Filers Is Required

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GPs that operate limited partnerships based on the exemption under Article 63 of the FIEA and have recently completed a renewal filing around the end of the grace period (August 31, 2016) are required to prepare Form 20-2...more

Katten Muchin Rosenman LLP

UK Partnerships – Proposed Collective Investment Scheme Legislation Amendments

On July 23, as part of the proposals announced in the Summer Budget by the Right Honourable George Osborne MP, UK Chancellor of the Exchequer, Her Majesty’s Treasury published a paper (Consultation Paper) in which certain...more

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