Videocast: Asset management regulation in 2020 videocast series – Private fund regulatory developments
Podcast: Credit Funds: Compliance Considerations for Valuation
Ropes & Gray’s PEP Talk: General Solicitation by Private Equity Funds Under 506(c)
With an estimated 34 people moving to the Charleston area each day and with South Carolina claiming one of the fastest-growing populations in the nation last year , the post-COVID increase in the number of private placement...more
Our Investment Funds Team reviews new templates from the Institutional Limited Partners Association (ILPA) for the private funds and private equity industries....more
If there is one thing that we can be sure of as the new administration settles into the White House, it is that there will be a heightened focus on, and more aggressive use of international trade regulatory, enforcement and...more
EXECUTIVE SUMMARY - Fund sponsors may offer their employees and other investment professionals an opportunity to invest in its funds through a co-investment program, which a lender may partially finance....more
Upon the occurrence of a key person event, a suspension period is typically triggered, during which the fund is not able to make new investments. In a previous article, we analyzed the average length of the suspension period...more
In June, California approved amendments to its October 2023 law, Fair Investment Practices by Venture Capital Companies (California VC Diversity Law). The California VC Diversity Law requires covered venture capital...more
Join Vinson & Elkins REIT and Real Estate partners, Brent Abbott, Executive Vice President, Head of Investments, Real Estate Division at Pacolet-Milliken, and Anthony Scavo, Chief Operating Officer at Basis Industrial, as...more
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
As private equity (PE) firms and financial sponsors of all varieties look for ways to generate liquidity in today’s economic climate, partial exits are becoming a tool that some firms leverage to provide returns to investors....more
Fund sponsors often engage investment banking or placement firms to help raise capital or generate deal flow for their funds. In exchange, the sponsor may offer a cash fee, a piece of the sponsor’s carried interest, equity in...more
Fund-level subscription-secured revolving lines of credit are a well-established instrument in the toolkits of a variety of private equity fund sponsors and managers, including for venture capital funds, hedge funds, debt...more
Acquisitions of private fund sponsors can be accretive for large asset managers, providing access to attractive investment strategies with equally attractive margins, which can be deployed in new ways on larger platforms. For...more
Goodwin is proud to be a platinum sponsor of the 2024 Global Fund Finance Symposium. As next week’s conference approaches and our clients, colleagues, and friends head toward Miami, the Goodwin Fund Finance team has paused to...more
Private fund sponsors should be aware of two recent SEC regulatory developments with respect to (1) the newly adopted private fund rules (Rule 211(h)(1)-2; Rule 211(h)(2)-3; Rule 211(h)(2)-1; Rule 211(h)(2)-2, and Rule...more
On February 6, 2024, the staff of the Securities and Exchange Commission (SEC) issued an updated FAQ with respect to the Marketing Rule (Rule 206(4)-1) under the Investment Advisers Act of 1940 (the Advisers Act). This FAQ...more
Private equity funds show the least variation, with 80% of PE funds setting hurdle rates at 8%. Real estate funds are almost as likely to set rates at 7% or 9% as 8%....more
On September 5, 2023, almost one year since its first flurry of similar Custody Rule actions, the SEC announced settlements with five SEC-registered investment advisers to private funds with respect to alleged violations of...more
I’ve written extensively about the CRE CLO technology for a long time and why it is the best leverage technology across securitization markets. With the sponsor typically holding up to 20% of the bottom of the capital stack,...more
On February 7, 2023, the Division of Examinations (“EXAMS”) of the Securities and Exchange Commission (“SEC”) issued its examination priorities for 2023 reflecting a continued focus on SEC-registered private fund sponsors....more
This isn’t the first time—and it certainly won’t be the last—that private equity firms are bracing for an economic downturn. Although private equity firms usually earn their best returns after a recession, only the most...more
On September 9, 2022, the SEC announced settlements with nine SEC-registered investment advisers to private funds with respect to alleged violations of Rule 206(4)-2 under the Investment Advisers Act of 1940 (the...more
As our other Top Ten posts have demonstrated, there is no shortage of risks for private fund sponsors to navigate in today’s economic and regulatory environment. Nevertheless, they need to prioritize the risk that hits...more
A Tool for Portfolio Management - While the secondaries market has traditionally provided opportunities for limited partners to exit from private equity funds, there has been an increase in General Partner (GP)-led...more
On March 30, 2022, the Division of Examinations (“EXAMS”) of the U.S. Securities and Exchange Commission (the “SEC”) placed private funds at the top of its examination priorities for 2022, displacing a focus on the protection...more
In this session, Ian Schwartz, Partner and Head of McDermott’s Investment Funds Practice, moderated a discussion that explored fundraising strategies and transaction structures that optimize liquidity and long-term returns...more