Business development companies (“BDCs”) were created by Congress in 1980 to serve as closed-end, venture capital funds for retail investors by financing small to mid-sized U.S. private companies. Since about 2004, BDC...more
4/24/2025
/ Business Development Companies ,
Business Strategies ,
Capital Markets ,
Financial Institutions ,
Investment Funds ,
Investment Management ,
Liquidity ,
Loans ,
Private Equity ,
Shareholders ,
Small Business ,
Venture Capital
In a typical multi-strategy fund (“Multi-Strat”), a fund structure is established by an investment manager (the “Investment Manager”) that runs multiple investment strategy portfolios within it, oftentimes with different...more
10/30/2024
/ Asset Management ,
Financial Services Industry ,
Fund Managers ,
Hedge Funds ,
Investment Firms ,
Investment Funds ,
Investment Management ,
Investment Portfolios ,
Investors ,
Private Equity ,
Risk Management
The United States and Switzerland jointly announced the conversion of the intergovernmental agreement (“IGA”) from a “Model 2” to “Model 1” agreement. The new IGA will come into effect January 1, 2027, allowing time for...more
While the concept of a pass-through expense model is most often associated with multi-strategy alternative investment funds, this expense structure is beginning to gain wider traction among other managers as well, depending...more
The Securities and Exchange Commission (the “SEC”) recently adopted amendments1 to Rule 35d-1 under the Investment Company Act of 1940, the fund “Names Rule” (“Amendments”). In the Release, the SEC noted that the Amendments...more
11/7/2023
/ Compliance ,
Derivatives ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Form N-PORT ,
Investment Company Act of 1940 ,
Investment Funds ,
New Amendments ,
Notice Requirements ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC)
Seward and Kissel submitted a comment letter to the SEC in response to its request for comments on proposed amendments to the Names Rule....more
On May 25, 2022, the SEC proposed amendments to Rule 35d-1, the fund “Names Rule,” (Names Rule Amendments) and, separately, proposed amendments to several rules and forms that would require additional disclosure for funds and...more
6/16/2022
/ Climate Change ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Services Industry ,
Greenhouse Gas Emissions ,
Investment ,
Investment Funds ,
Proposed Amendments ,
Publicly-Traded Companies ,
Registered Investment Companies (RICs) ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Regulation