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Private Equity Asset Management Private Funds

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

Private Funds Are Getting More Freedom to Recycle

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Managers are often able to secure more-flexible recycling provisions, enabling them to reinvest a wider range of proceeds, often within an overall cap on amounts....more

Morgan Lewis

Private Credit Markets Continue to Expand in Asia

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Private credit, or funding provided by non-bank lenders, has expanded significantly, becoming a $1.7 trillion global industry. Many market participants anticipate continued growth, with conservative estimates projecting an...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

Winstead PC

Trusts as Qualified Clients: Understanding the Qualified Client Threshold for Trusts Investing in Private Securities - March 2025

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This article is the second of a three-part series discussing trusts in the context of certain common investor thresholds for investment in private securities. This article will examine trusts as “qualified clients” under the...more

Paul Hastings LLP

Private Debt Explosion: Breaking New Ground

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In the last 12 months, we have seen private debt markets take off over other strategies. In particular, there are now more creative ways of bringing in new types of investors to this asset class, including insurers, pension...more

Goodwin

New Year, Similar Concerns: The FCA's 2025 Priorities for UK Private Fund Managers

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On 26 February 2025, the Financial Conduct Authority (FCA) published a portfolio letter (Letter) explaining its supervision priorities for the asset management and alternatives portfolios....more

Cadwalader, Wickersham & Taft LLP

Miami in the Rearview February 2025 - Key Takeaways From Miami 2025

A record more than 2,500 industry players attended the 14th annual Global Fund Finance Symposium that wrapped up at the Fontainebleau in Miami Beach. As has been the trend in recent years, there was a lot to discuss (beyond...more

Alston & Bird

ILPA Releases Updated Reporting Template and New Performance Templates

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Our Investment Funds Team reviews new templates from the Institutional Limited Partners Association (ILPA) for the private funds and private equity industries....more

Cadwalader, Wickersham & Taft LLP

Hot Topics (and Panels) for the Fontainebleau – Sun, Sea and Securitization

Back when NAV was something that guided you to your chosen venue for the evening, the FFA conference in Miami (and earlier still, New York) was a slightly more 'NAV'igable event....more

Goodwin

Fund Finance: 2024 Reflections and Looking Ahead to 2025

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The year 2024 was one of innovation and growth for the fund finance market. In October, Ares published its fund finance whitepaper, in which it estimated the global fund finance market to already be $1.2 trillion and growing...more

Goodwin

Operational Real Estate: OpCo Ownership Considerations

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The growth of the operational real estate (OpRE) sector is one of the most significant recent trends in global real estate markets. OpRE is relevant to a wide range of real estate asset classes and subsectors, but all OpRE...more

Cadwalader, Wickersham & Taft LLP

Back-Leverage to the Future January 2025 - Single-Asset Back-Leverage Facilities for Private Credit Loans

As regular Fund Finance Friday readers know, articles in this newsletter often explore emerging trends in fund finance and fund finance-adjacent areas, and in this article, we will look at single-asset back-leverage (“SABL”)...more

Ropes & Gray LLP

[Podcast] R&G Dugout: Show Me the Money—Fund Formation & Management

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On this episode of the R&G Dugout podcast, Ropes & Gray asset management partners Amanda Persaud, Lindsey Goldstein, and Jon Rash explore the upsurge of private funds raising capital for investment in sports teams and...more

Proskauer - Private Market Talks Podcast

[Podcast] Unlocking the Potential of Alternative Markets with HighVista Strategies’ Raphi Schorr

Two decades ago, HighVista Strategies set out to transform alternative investing by tapping into less efficient markets in search of alpha. Today, with $11 billion under management, the firm remains at the forefront of...more

Mayer Brown

The Intersection of NAV and Margin Loans: Single Asset and Concentrated Asset Pools

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Executive Summary - Over the last several years, a need has arisen in the fund finance market, which caters to private equity, venture capital, family offices, and other investment funds (“Funds”) and their sponsors, for...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

Cadwalader, Wickersham & Taft LLP

Staying Within the Margins April 2024 - What We’re Reading

Secondaries. The share of secondary sales done at a discount to NAV increased in 2023 according to Jefferies data cited in the Financial Times. Overallocations to PE, better returns in fixed income, and cash outflow needs for...more

Proskauer - The Capital Commitment

Top Ten Regulatory and Litigation Risks for Private Funds in 2024

To understand the litigation and regulatory risks that are coming in 2024 for private capital, it is helpful to look back briefly on recent events. Arguably, the single most important event over the last 18 months was the...more

Paul Hastings LLP

Credit Funds: The Year of the Regulator

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We are delighted to bring you this edition of Spotlight Magazine, the content of which has come at just the right time, with it becoming increasingly apparent that we are in the midst of a global regulatory refresh of the...more

Seward & Kissel LLP

[Event] Getting a Deal Done: M&A Opportunities for Asset and Wealth Managers - October 26th, New York, NY

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What to expect? The first half of 2022 marked another banner period for asset and wealth management deals, with deal volume up 11% compared to the same period in 2021, according to PWC. And the market for buying and selling...more

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