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Limited Partnerships

Goodwin

Extending Fund Lifespans: Typical Durations and Consent Requirements

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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

K&L Gates LLP

Final Rule on Outbound Investments: Implications for Limited Partner Investments

K&L Gates LLP on

Introduction - On 28 October 2024, the US Treasury Department issued a Final Rule implementing the Outbound Investment Program (OIP) under Executive Order 14105, which safeguards US national security by limiting investments...more

International Lawyers Network

Establishing a Business Entity in Austria (Updated)

1. Introduction - In principle any national citizen or foreign national is allowed to establish a business in Austria. A company is defined as a partnership of at least two persons (exceptions for limited liability...more

Goodwin

Court of Appeal Considers Limited Partnership Dissolution in Flohr v Frontiers Capital: Winding Up Incomplete Where a Partnership...

Goodwin on

A recent case, Flohr v Frontiers Capital, has provided additional guidance on limited partnership dissolution. In this case, the Court of Appeal considered the scope of the statutory power of a partnership to do what is...more

International Lawyers Network

Buying and Selling Real Estate in Ecuador (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ECUADOREAN LAW - Real Estate acquisitions typically involve several key stages, ultimately leading to the transfer of ownership. The most common phases include: 1) Initial...more

Torres Trade Law, PLLC

Identities of Investment Fund Limited Partners in CFIUS Reviews

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As deals increase in complexity, and ownership structures are oftentimes opaque and obfuscated, it is important to be mindful of CFIUS’s continued stance of requesting identities of Limited Partners (LPs) in transactions...more

Allen Barron, Inc.

Beneficial Ownership Information Form – Less than a Month to Come Into Compliance

Allen Barron, Inc. on

Hopefully, by now, you’ve become aware of the Beneficial Ownership Information Form, commonly referred to as the BOI Form or BOI Report. The Financial Crimes Enforcement Network (FinCEN) finalized rules for this report late...more

Akin Gump Strauss Hauer & Feld LLP

Treasury Issues Final Regulations Prohibiting Certain US Investment in Chinese Technology Companies

On November 15, 2024, the U.S. Department of the Treasury published the final rule implementing President Biden’s August 9, 2023 Executive Order on outbound investment, which addresses concerns related to China’s advancement...more

Paul Hastings LLP

U.K. Financial Institutions – New Guidelines on Acquisitions and Changes in Control

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The U.K.’s banking and financial services regulators have recently issued guidance updating their approach to handling applications to approve acquisitions of U.K.‑regulated businesses. This guidance is of interest to...more

Woodruff Sawyer

Secondary Transactions: Risk, Insurance, and Due Diligence

Woodruff Sawyer on

In the reps and warranties insurance (RWI) space, we are seeing more secondary transactions come across our desks. We're also seeing more willingness from insurers to cover these deals. To discuss this trend, I sat down with...more

Rivkin Radler LLP

Choice of Entity for a U.S. Business- Passthrough Status Matters Beyond the U.S. Border

Rivkin Radler LLP on

Decisions, Decisions - The owners of a closely held U.S. business will have to make many difficult decisions during the life of the business. Among the earliest of these is the so-called choice of business entity, the...more

A&O Shearman

UK guidance on acquisitions and increases in control in PRA and FCA authorised firms

A&O Shearman on

The UK financial services regulators, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), have recently set out their final policy on the assessment of acquisitions and increases in control of PRA...more

Pillsbury Winthrop Shaw Pittman LLP

The Treasury Department Finalizes U.S. Outbound Investment Rules

The Final Rule formalizes a new governmental system to monitor through a notification process and, when necessary, restrict investments in China that may be viewed as a national security risk. The regulations have broad...more

Carey Olsen

Cayman Islands private client structures and beneficial ownership - changes of note

Carey Olsen on

On 31 July 2024, the Cayman Islands Beneficial Ownership Transparency Act, 2023 (“BO Act”) and the accompanying Beneficial Ownership Transparency Regulations, 2024 (“BO Regulations”) were brought into force. At the same time,...more

Proskauer Rose LLP

Deadline Approaches: FinCEN’s Rules for Beneficial Ownership Reporting under the Corporate Transparency Act

Proskauer Rose LLP on

The Corporate Transparency Act (the “CTA”) requires a range of entities, primarily smaller, otherwise unregulated companies, to file a report with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network...more

Dechert LLP

U.S. Outbound Investment Security Program Targeting Emerging Chinese Technology Has Arrived

Dechert LLP on

Through the Committee on Foreign Investment in the United States (“CFIUS”), the U.S. Government has long had the authority to review inbound investment. The Final Rule formalizes the U.S. Government’s authority to regulate...more

Hahn Loeser & Parks LLP

Using Private Capital for Commercial Real Estate Development

Hahn Loeser & Parks LLP on

The tightening in lending standards experienced over the last year is attributable to factors beyond credit quality of borrowers and lenders’ concentration in credit risk in CRE, namely: (1) lenders’ expectation...more

Carey Olsen

Changes to the Cayman Islands Beneficial Ownership Regime

Carey Olsen on

On 31 July 2024, the Cayman Islands Beneficial Ownership Transparency Act, 2023 (“BO Act”) and the accompanying Beneficial Ownership Transparency Regulations, 2024 (“BO Regulations”) were brought into force. At the same time,...more

Paul Hastings LLP

Finalized Hart-Scott-Rodino Rules Released

Paul Hastings LLP on

Wednesday, the Federal Trade Commission voted 5–0 to adopt new rules under the Hart-Scott-Rodino (“HSR”) Antitrust Improvements Act, as amended. While these new rules are scaled-back versions of the rules originally proposed...more

Pillsbury Winthrop Shaw Pittman LLP

Corporate Transparency Act: Is Your Company Prepared to Meet the Deadline for Filing on January 1, 2025?

Beneficial Ownership Reports are filed electronically through the Financial Crimes Enforcement Network. Individuals who need to be reported as beneficial owners or company applicants should apply for a FinCEN ID number....more

Walkers

What are Jersey Separate Limited Partnerships and Incorporated Limited Partnerships

Walkers on

Introduction of separate limited partnerships. Introduction of incorporated limited partnerships....more

Walkers

Jersey Funds Law Series: Investment Fund Structures - Which one to choose?

Walkers on

Jersey has a long-established reputation as a fund domicile for alternative investment funds. The most popular fund structures in Jersey include companies (whether single class, multi-class, umbrella, incorporated and...more

Shipman & Goodwin LLP

Trusts and Estates Newsletter - Corporate Transparency Act

Shipman & Goodwin LLP on

The Corporate Transparency Act (the “Act”), passed in connection with the National Defense Authorization Act for Fiscal Year 2021, went into effect on January 1, 2024. The Act requires “Reporting Companies” to disclose...more

Goodwin

How Do Fund Sponsors Resolve a Key Person Event?

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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

Katten Muchin Rosenman LLP

ILPA Publishes Guidance on NAV Financing in Private Equity Strategies

The Institutional Limited Partners Association (ILPA) recently issued guidance (Guidance) for limited partners (LPs) and general partners (GPs) on the use of net asset value (NAV)-based financing facilities in private equity...more

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