Private equity (PE) sponsors are increasingly seeking to broaden their investor base by offering retail access to traditionally institutional-only funds. Recently, statements by the SEC indicated the SEC staff will no longer...more
A recent trend in continuation vehicles involves traditional private equity sponsors serving as the “lead investor” in lieu of, or in addition to, more traditional secondary buyers and institutional investors. This expansion...more
In a speech presented to the Practicing Law Institute’s Private Equity Forum on June 30, 2014, Norm Champ, Director of the SEC’s Division of Investment Management (the “Division”), discussed the rise of open-end mutual funds...more