Securities and Exchange Commission (SEC), Fund Managers, Fees

End of (Fund) Life Issues

Proskauer - The Capital Commitment on 6/18/2025

Amid a challenging environment for exits, especially in the wake of the recent market volatility, private fund managers continue to pursue alternative strategies, such as term extensions and liquidity solutions, to ride out...more

Navigating the SEC's Focus on Private Fund Fees: Understanding the Trends and Mitigating Risk

Goodwin on 7/24/2023

The following is an edited version of a conversation between Goodwin partners Jonathan Hecht and Isaac Vinyarsh. Before joining Goodwin, Jonathan spent more than a decade in the SEC’s Division of Enforcement, including...more

Proposed SEC Rules Aim at Putting Private Funds More in Public View

DarrowEverett LLP on 6/15/2023

Whether everyday Americans saving for retirement, college tuition, or their forever homes know it or not, there’s a chance that their money is tied, directly or indirectly, to private funds. Moreover, those Americans probably...more

The SEC’s Multipronged Focus on Advisory Fees—Implications for Private Fund Managers

Akin Gump Strauss Hauer & Feld LLP on 12/1/2021

Any doubts over whether the U.S. Securities and Exchange Commission considers advisory fees to be a focus area for 2022 were dispelled over the past several weeks. In four separate public statements, the SEC and the Staff of...more

What Investment Advisers and Fund Managers can Expect from the SEC Under the Biden Administration

Winstead PC on 3/11/2021

As we discussed in our recent post “What to Expect from the SEC Under the Biden Administration,” market participants can expect a more vigorous SEC enforcement program under the new administration. President Biden’s nominee...more

Fees and Expenses Survey 2018: Everything Is Becoming More Granular

Troutman Pepper Locke on 11/2/2018

Pepper is pleased to announce the release of the 2018 pfm Fees and Expenses Benchmarking Survey, produced in partnership with PEF Services and WithumSmith+Brown. The survey was launched in 2014 in response to fund managers’...more

SEC Notes Growing Concern About Private Equity Fee Disclosures

Akerman LLP on 5/8/2014

Recent comments by Andrew Bowden, Director of the Office of Compliance Inspections and Examinations for the Securities and Exchange Commission (SEC), highlight the growing tension between Dodd-Frank compliance and fund...more

SEC Issues Guidance on Aggregate Advisory Fee Rates for Multi-Manager Funds

Katten Muchin Rosenman LLP on 3/4/2014

In February 2014, the Securities and Exchange Commission’s Division of Investment Management released a Guidance Update to clarify when a mutual fund using a “multi-manager structure” must obtain shareholder approval for...more

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