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Private Investment Funds

Proskauer Rose LLP

SEC Eases Verification Burdens in Rule 506(c) Offerings

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The SEC’s Division of Corporation Finance recently issued an interpretive letter providing additional insight as to what constitutes “reasonable steps” to verify an investor’s accredited investor status under Rule 506(c) of...more

Morgan Lewis

New SEC Guidance Eases Burden in Rule 506(c) Accredited Investor Verification Requirements

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SEC staff issued no-action guidance on Rule 506(c) of Regulation D private securities offerings on March 12, 2025, which should provide issuers with an easier path to rely on Rule 506(c) and solicit and advertise their...more

Seward & Kissel LLP

Seward & Kissel Releases Business Transactions Group 2024 Year in Review

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2024 started a bit slow for the M&A market but came on strong in the second half. Seward & Kissel’s clients engaged in a wide variety of transactions around the globe involving interesting businesses in diverse industries....more

Dechert LLP

THE CRED - February 2025

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Arcmont’s Mattis Poetter on the Future of Private Credit: THE CRED Convos - How are resilience, growth and innovation shaping the future of the private credit industry? Arcmont Asset Management Partner and Co-CIO Mattis...more

Goodwin

Where Do Private Funds Draw the Line on Recycling?

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Private fund managers “recycle” capital — i.e., reinvest capital that would otherwise be returned to investors or to recall distributions already made — to maximize their investment capacity. ...more

Carey Olsen

Funds in the British Virgin Islands

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The British Virgin Islands (“BVI”) is a long-standing jurisdiction of choice for the incorporation of investment funds. This is due to the familiarity and stability of the BVI’s English common law based legal system, tax...more

Proskauer - Private Market Talks Podcast

[Podcast] Private Market Talks: Exploring APAC’s Private Credit Frontier with ADM Capital’s Chris Botsford

The Asia-Pacific private credit market has doubled in the past five years, presenting growing and intriguing opportunities for credit investors. Despite its growth, the APAC region remains a complex, diverse and often...more

Winstead PC

Trusts as Accredited Investors: Navigating Trusts and Private Market Investments

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Investments in private markets are rapidly becoming an essential part of a well-rounded investment portfolio, especially for ultra-high-net-worth individuals and families. According to Ernst & Young, the assets under...more

Cadwalader, Wickersham & Taft LLP

Navigating Transfers January 2025 - Investor Transfers: Lender Considerations in an Everchanging Fund Finance Market

Although transfers by investors of their interests in a fund have always been a feature of subscription / capital call facilities, as of late, there has been a palpable uptick in investor transfers and this trend is set to...more

Foley & Lardner LLP

SEC Enforcement Action – Failure to File Forms D

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Share on Twitter Print Share by Email Share Back to top On December 20, 2024, the U.S. Securities and Exchange Commission (SEC) announced that it settled charges issued against one registered investment adviser and two...more

Walkers

The Guernsey Private Investment Funds Regime

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Guernsey's latest fund regulatory regime is the private investment fund (PIF) regime - The PIF Rules provide appropriate funds with a fast-tracked, proportionate and "light touch" regulatory regime...more

Walkers

Jersey Private Fund Regime - Key Requirements and Eligibility

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A JPF is a private fund product which is lightly regulated - A JPF can be established in various forms...more

Walkers

A Guide to Guernsey Investment Funds

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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

Latham & Watkins LLP

The Stars Align - FCA’s PISCES Proposals to Build on Private Market Practices

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The FCA is approaching its design of the world’s first regulated private/public crossover market with a “private plus” rather than a “public minus” mindset. On 17 December 2024, the FCA launched a consultation on its...more

Carey Olsen

British Virgin Islands comparison of open-ended funds

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In this guide we compare the five types of open-ended funds in the British Virgin Islands (the “BVI”), being private funds, professional funds, public funds, incubator funds and approved funds (this guide does not cover...more

Paul Hastings LLP

The U.K. Budget: Eye Openers and Opportunities

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On 30 October 2024, the Labour Government delivered their first Budget since taking office. A wide range of changes were announced to taxation and public spending, and the team in the London office of Paul Hastings have...more

Procopio, Cory, Hargreaves & Savitch LLP

What to Expect from the SEC’s Examination Focus in 2025

Investment advisers, broker-dealers, fund managers and other financial professionals could be impacted in 2025 by the U.S. Securities and Exchange Commission’s (SEC) continued focus on upcoming examinations, presenting a...more

Carey Olsen

British Virgin Islands investment funds - autumn 2024 update

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Our investment funds team outline the latest developments within the investment funds market in the British Virgin Islands ("BVI"), including the funds statistics from the British Virgin Islands Financial Services Commission...more

Baker Botts L.L.P.

Developing IP Issues in Energy Technology and Renewables

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In 2023, global investments in energy transition projects surged to approximately $1.7 trillion. This unprecedented investment level underscores the transformative shift toward cleaner energy sources and technologies....more

Troutman Pepper Locke

More Than $1.24B in SBA Debenture Leverage Priced at 4.38%

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Licensed by the U.S. Small Business Administration (SBA) under the Small Business Investment Act of 1958, a small business investment company (SBIC) represents a privately owned and operated investment fund that makes...more

Bradley Arant Boult Cummings LLP

Back to School for Minority Investors: Study Guide for Private Company Investing

Private company investing is inherently risky, but these risks can be mitigated if investors take proactive steps before making this type of investment. This due diligence action plan for potential investors includes the...more

Whiteford

Corporate Practice of Medicine, Antikickback and Stark Analysis After the AAEM-PG and Envision Settlement

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The American Academy of Emergency Medicine Physician Group (AAEM-PG) recently settled a lawsuit in United States District Court for the Northern District of California against Envision Healthcare and Envision Physician...more

Mayer Brown

Covered Transactions and Considerations in Fund Finance

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Section 23A and Super 23A can create additional complications for lenders in the fund finance market. Intended to protect the stability of financial institutions by restricting transactions with affiliates, Section 23A and...more

Cole Schotz

Fifth Circuit Strikes Down SEC Rule Regulating Private Investment Funds

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On June 5, 2024, a three judge panel of the U.S. Fifth Circuit Court of Appeals unanimously struck down the Securities and Exchange Commission’s (“SEC”) final rule, which created onerous restrictions for managers of private...more

Goodwin

Fifth Circuit Vacates the Private Funds Rules And Constrains the SEC’s Rulemaking Authority

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Yesterday, a three-judge panel of the U.S. Court of Appeals for the Fifth Circuit vacated the “Private Funds Rules,” which the Securities and Exchange Commission (the “SEC”) adopted on August 23, 2023. The opinion of the...more

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