Guernsey has long been one of the world's premier jurisdictions for investment funds - There are a number of advantages for using Guernsey as a jurisdiction, including the wide variety of company and limited partnership...more
As noted in our previous article, the lifespan of a closed-end fund typically ranges from 8 to 12 years, depending on the asset class. However, to provide flexibility to deal with issues related to illiquidity of assets,...more
Investors in closed-end funds make a commitment for the duration of a fund’s life cycle — known as the fund’s term — with liquidity available only through sale of assets, secondary transactions, or fund liquidation. Investors...more
When a business is sold, the most important overall aspect of negotiations between a cautious buyer and determined seller may be due to the agreed-upon purchase price for the business. However, when the buyer is purchasing...more
Most funds automatically suspend their investment period when a key person event occurs, but the duration of the suspension varies by asset class. Key persons are investment professionals who are considered indispensable...more
A distinct asset class? Operational real estate is often spoken about as if it is a distinct real estate type or as if the term is only applicable to certain more operationally intensive real estate types such as hotels...more
Goodwin Partner Raymond Fang talks with TusPark’s head of UK innovation and real estate, Wei Meng, about building life sciences ecosystems and the operational nature of real estate in the sector....more
The FCA found that wholesale data markets can be improved, but has ruled out a significant intervention. The FCA has published the findings of its wholesale data market study (MS23/1.5), which examined competition in the...more
For a majority of PE, VC, and debt funds, catch-ups are 100%, but they are likely to be less than 100% for real estate and infrastructure funds. In a previous article, we showed that hurdle rates set by private...more
At an industry event in early 2023, Commodity Futures Trading Commission (CFTC or the Commission) Chairman Rostin Behnam set out a comprehensive agenda to include nearly three dozen rulemaking proposals as well as “business...more
When it comes to estate planning, addressing all your assets should be a priority. However, certain assets require greater attention than others. For example, if your assets include unregistered securities, such as restricted...more
A look at how funds across asset classes – including private equity, real estate, infrastructure, venture capital, and debt – calculate hurdle rates. In a recent piece in this series, our colleagues showed that funds set...more
On 07 June 2023, K2 Integrity hosted a webinar on the state of cryptocurrency and digital assets in a rapidly evolving regulatory landscape. A discussion was held with Bryan Stirewalt, senior managing director at K2...more
Real estate investors are increasingly turning to operational real estate (ORE) to capture higher margins, particularly as margins shrink on traditional real estate investments. But ORE offers higher returns in part because...more
Studios are excellent opportunities for operational real estate, with even more upside available to those who are able to provide important ancillary services. Achieving desired returns from traditional asset classes...more
The private credit market has proven to be an attractive prospect for investors in light of recent economic developments. As other asset classes shrunk during the global financial crisis, private credit maintained...more
Welcome to the second edition of Private Capital Insights, a report that examines market trends and developments impacting private capital investors across a range of asset classes. In this edition, we explore the...more
Given a lack of guidance on the tax treatment of non-fungible tokens (NFTs), taxpayers can be forgiven for experiencing a certain level of uncertainty with respect to how the Internal Revenue Service (IRS) will apply its tax...more
As the creation of and transactions involving non-fungible tokens (NFTs) have increased dramatically, so has interest in using NFTs as donations to charitable organizations and for other charitable fundraising tools. Given...more
While no one knows for sure what the future of post-pandemic real estate finance holds, the forecast does look positive – lending is competitive and healthy across both Europe and the U.S. Unlike the global financial crisis,...more
Hinting that the US Department of Labor (DOL) is currently working on guidance related to cryptocurrency, the Acting Assistant Secretary for the DOL’s Employee Benefits Security Administration recently commented that the DOL...more
As part of our Spotlight series, we connect with Jeff Boujoukos, the leader of Morgan Lewis’s securities enforcement practice, to discuss the current and future state of affairs of the regulation and enforcement activities of...more
The Situation: Non-fungible tokens are an emerging digital asset class that present a unique set of commercial, regulatory, and other legal considerations. The Result: The current U.S. regulatory and legal framework is...more
The Bermuda Monetary Authority (BMA) has recently issued a Consultation Paper on proposed changes to the Bermuda Solvency Capital Requirement Model and Schedules. ...more
World affairs are currently clouded by the global COVID-19 pandemic. In a very short period of time, approximately 191 vaccine projects have been launched according to the World Health Organization (WHO). Among the countries...more