News & Analysis as of

Private Funds Institutional Investors

Seward & Kissel LLP

An Introduction to Rated Note Feeders

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In today’s evolving investment landscape, institutional investors are increasingly seeking innovative structures that align with regulatory requirements while maximizing returns. One such structure gaining traction is the...more

Paul Hastings LLP

ILPA Releases New Reporting and Performance Templates

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On January 22, the Institutional Limited Partners Association (ILPA) released an update to its 2016 Reporting Template and unveiled a new Performance Template. Together, the goal of these documents is to enhance and...more

Latham & Watkins LLP

Private Wealth Investors Deliver a Fundraising Boost

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In a challenging fundraising environment, private wealth investors are filling the gap, aided by investment platforms, intermediaries, and evolving legal structures. In recent years, inflationary pressures, interest rate...more

Morrison & Foerster LLP

FINRA Proposes to Modify its Communications with the Public Rule to Allow More Parties to Receive Projections and Targeted Returns

In November of 2023, FINRA made an initial rule filing with the Securities and Exchange Commission (SEC) pursuant to Exchange Act Rule 19b-4, seeking to amend FINRA Rule 2210 – Communications with the Public (the...more

Goodwin

FINRA Kicks Off the Holiday Season With a Proposal to Permit the Use of Some Projections and Targeted Returns

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FINRA has offered a gift to member firms and fund managers just in time for the holiday season — but like a new puppy, the gift comes with a lot of responsibility. FINRA filed a proposed rule change to amend FINRA Rule 2210...more

Ballard Spahr LLP

Business Better Podcast Episode: Investing in Consumer Brands – A Conversation with SBJ Capital

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In this episode, we’re joined by Porter Hall, a Principal at SBJ Capital. SBJ Capital is a private investment firm with a focus on lower middle-market consumer, business services, and healthcare services companies. They...more

Goodwin

The SEC’s New Private Funds Rules on Preferential Treatment: How Do They Compare With the AIFMD?

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The US Securities and Exchange Commission (SEC) recently adopted new rules for private fund managers, which we covered in our alert SEC Adopts Expansive (Albeit Slightly Softened) Private Funds Rules. The new rules include...more

Nossaman LLP

SEC Adopts New Rules to Better Protect Institutional Investors in Private Funds

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On August 23, 2023, the U.S. Securities and Exchange Commission (SEC) voted 3-2 to approve 660 pages of new rules and amendments modifying the Investment Advisers Act of 1940 (Advisers Act). The new rules represent some of...more

Goodwin

ELTIF Reform: A Milestone in the Development of an EU Private Fund Structure for Accessing Wholesale Markets

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The European Long-Term Investment Fund (ELTIF), a collective investment framework for both professional and retail investors looking to invest in long-term assets, has been available to EU managers since December 2015. ...more

Skadden, Arps, Slate, Meagher & Flom LLP

Private Fund Managers Should Prepare for New ESG-Related Regulatory Obligations

The list of events for which 2020 will be remembered continues to grow and we are only two thirds of the way through the year. Environmental, social and governance (ESG) issues have come into focus in the financial community,...more

Proskauer Rose LLP

“Side Car” Funds – Solutions for Sourcing Capital

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Given the current market volatility resulting from the COVID-19 pandemic, many fund sponsors are seeking additional sources of capital to protect and/or enhance their investment portfolios. There are many circumstances in...more

Morgan Lewis

Implications of COVID-19 for Institutional Investors

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The spread of the coronavirus (COVID-19) continues to impact global financial markets and private funds. Institutional investors, funds-of-funds, family offices, and other investors in private funds should consider the...more

Eversheds Sutherland (US) LLP

SEC proposal seeks to expand access to private funds

On December 18, 2019, the Securities and Exchange Commission (SEC) issued a proposed rule – “Amending the ‘Accredited Investor’ Definition” (the Proposed Rule) – that would expand access to private funds for certain...more

Bennett Jones LLP

What You Need to Know About ILPA Principles 3.0

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The Institutional Limited Partners Association (ILPA) recently released the latest version of its principles, ILPA Principles 3.0. The updated principles provide a detailed selection of best practices for participants in the...more

Troutman Pepper Locke

SBA Reminds SBICs to Submit Their 2016 Annual Recertification

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On June 2, the U.S. Small Business Administration (SBA) distributed a memorandum from Steve Knott, acting director of the SBA’s Office of SBIC Operations, reminding private funds licensed by the SBA as small business...more

Eversheds Sutherland (US) LLP

Hailing a CAB – Does FINRA’s Proposed Capital Acquisition Broker Rule Set Get Private Fund Sponsors to Their Desired Destination?

For many years, the private fund industry and the securities bar have called for a limited rule set to govern broker-dealers solely engaged in raising capital for private funds or other issuers of unregistered securities or...more

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