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Private Funds Investment Management Financial Services Industry

Goodwin

Further Reform for UK Private Fund Managers: The Government’s Road Map for Growth in Financial Services

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On 15 July 2025, Chancellor of the Exchequer Rachel Reeves delivered her Mansion House 2025 speech unveiling the Leeds Reforms, a programme for financial services reforms to drive investment and growth in the sector....more

Carlton Fields

Builder of Investment Models Deviates From Blueprints - Employee’s Rogue Remodeling Costs Builder Plenty

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The SEC’s recent order instituting administrative and cease-and-desist proceedings (OIP) against registered investment advisers Two Sigma Investments LP and Two Sigma Advisers LP illustrates significant risks for investment...more

Carey Olsen

British Virgin Islands investment funds - Spring 2025 update

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Our investment funds team outline the latest developments within the investment funds market in the British Virgin Islands ("BVI"), including the funds statistics from the British Virgin Islands Financial Services Commission...more

McDermott Will & Schulte

SEC Eases Marketing Rule Net Performance Requirement

On March 19, 2025, the US Securities and Exchange Commission’s (SEC) Division of Investment Management updated its frequently asked questions (FAQs) related to Rule 206(4)-1 (the Marketing Rule) under the Investment Advisers...more

Proskauer - Private Market Talks Podcast

[Podcast] Private Market Talks: Driving Growth with Corbin Capital Partners’ Tracy Stuart

Over the past 20 years, as Managing Partner and CEO, Tracy Stuart has transformed Corbin Capital Partners from a few hundred million to over $9 billion in AUM. In this episode, we explore what has driven Corbin’s success and...more

Ropes & Gray LLP

Share Class Structures for Mutual Funds/ ETFs: How Fund Groups Can Begin Preparing for Anticipated SEC Exemptive Relief

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This white paper is intended to guide and inform registered funds, their sponsors and other service providers and their boards (“Boards”) as they prepare to take advantage of potentially forthcoming exemptive relief (the...more

Walkers

Fund Finance: Central Bank of Ireland relaxes regulatory prohibition on provision of third-party guarantees by QIAIFs

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Subject to certain requirements, a QIAIF may now guarantee the obligations of third-party entities in respect of investments and/or intermediate vehicles in which the QIAIF has a direct or indirect economic interest. This is...more

Mayer Brown Free Writings + Perspectives

Co-Investment Relief a Step to Retail Access to Registered Funds

On March 4, 2025, the Investment Company Institute (ICI) wrote to the Securities and Exchange Commission (SEC) to express its support of a request for co-investment exemptive relief by an applicant and urge that the SEC grant...more

A&O Shearman

UK Unauthorised Co-ownership Alternative Investment Funds (Reserved Investor Fund) Regulations 2025 published

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The Unauthorised Co-ownership Alternative Investment Funds (Reserved Investor Fund) Regulations 2025 have been published, along with an explanatory memorandum. The regulations support the Government's introduction of the...more

Latham & Watkins LLP

FCA Publishes Findings on Private Market Valuation Practices

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A review of fund and portfolio managers found a number of good practices, but also revealed the need for improvement in areas such as conflict management. On 5 March 2025, the FCA published the findings from its review...more

Conyers

10 Things You Need To Know About… Using a Cayman Islands SPV to Structure a CLO Transaction

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Special purpose vehicles (SPVs) are commonly employed as a structuring tool in many cross-border and structured finance transactions, and collateralised loan obligation (CLO) transactions are no exception. The Cayman Islands...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

Walkers

Growth in European Fund Finance: A Channel Islands perspective

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Access to liquidity was a central theme of 2024 in the European fund finance market. Whilst macro-economic factors suppressed demand for subscription lines, alternatives such as NAV, GP and back-leverage facilities kept many...more

Cadwalader, Wickersham & Taft LLP

Fund Finance Around the World February 2025 - Around the (Fund Finance) World in Eight Topics!

With just over two weeks to go until the global fund finance community gathers in Miami, the time seems apt to revisit some topics that bankers and attorneys encounter in some commonly seen non-US fund finance jurisdictions....more

Morrison & Foerster LLP

Extended Compliance Date for Recent Form PF Amendments

The new year always marks the start of a busy regulatory filing season for registered investment advisers, including investment advisers that file Form PF (“Form PF Filers”). This year could be especially challenging since,...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

Carey Olsen

Fund Finance Laws and Regulations 2025: Assessing Lender Risk in Fund Finance Markets (GLI chapter)

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Carey Olsen have contributed to the Global Legal Insights – Fund Finance guide by authoring a chapter on assessing lender risk in fund finance markets. As the fund finance market continues to evolve, lenders will need to...more

Proskauer - Private Market Talks Podcast

[Podcast] Private Market Talks: Bringing Private Credit to the Wealth Channel with Nomura Capital Management’s Robert Stark

In our first episode of 2025, we’re excited to speak with Robert Stark, CEO of Nomura Capital Management. During our discussion, we discuss the competitive DCA ranges and challenges of building a private credit platform...more

DLA Piper

IMpact: Investment Management News – September 2024

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Welcome to IMpact: Investment Management News. In this regular bulletin, DLA Piper lawyers share their insights on key developments that are impacting the investment management industry....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

K&L Gates LLP

Global Survey of ESG Regulations for Asset Managers - ESG and the Sustainable Economy Handbook

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INTRODUCTION - Asset managers (i.e., investment advisers) offering funds in more than one country are accustomed to adapting to different regulatory requirements. However, the challenges presented by the global regulation...more

K&L Gates LLP

Global Survey of ESG Regulations for Asset Managers

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Asset managers (i.e., investment advisers) offering funds in more than one country are accustomed to adapting to different regulatory requirements. However, the challenges presented by the global regulation of environmental,...more

Nelson Mullins Riley & Scarborough LLP

SEC Adopts Its New Private Funds Adviser Rules - Final Rules Create New Requirements for Private Fund Advisers

The U.S. Securities and Exchange Commission (the “SEC”) adopted and published its Final Rule Release IA-6383 under the Investment Advisers Act of 1940 (the “Advisers Act”) on August 23, 2023. These rules (the “Final Rules”)...more

White & Case LLP

The Increasing importance of Private Credit within the UAE and the Establishment of ADGM Private Credit Funds Rules

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Amongst a backdrop of rising inflation and interest rates, the past two years have seen an exponential rise in the activity of private credit funds within the United Arab Emirates and the broader Middle East....more

Morgan Lewis

A Trending Hedge Fund Hub: Key Aspects of ADGM Hedge Funds

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The Abu Dhabi Global Market (ADGM) is fast becoming an international financial hub in the MENA region for global hedge fund managers that are drawn to the quality of the ADGM’s independent regulator, the Financial Services...more

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