News & Analysis as of

Fund Managers

Alston & Bird

CFTC Amends Regulation 4.7, Increasing Dollar Threshold for QEP Qualification and Codifying Monthly Reporting Option for Funds of...

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Our Investment Funds Group examines how the Commodity Futures Trading Commission (CFTC) has amended Regulation 4.7 to increase investor suitability standards and provide additional flexibility for funds-of-funds reporting....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

Foley Hoag LLP

The Corporate Transparency Act: Impact on Private Fund Managers

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Private fund managers are reminded that the Corporate Transparency Act (CTA) may trigger reporting obligations to the Department of the Treasury’s Financial Crimes Enforcement Network for private fund managers and the private...more

A&O Shearman

Singapore: reinventing an ASEAN hub for investments, funds and restructuring

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Singapore’s status as a leading financial centre in Asia and regional hub for commodity trading, shipping, and increasingly, private capital activity has been cemented over the years, especially in the past decade....more

Proskauer - Regulatory & Compliance

The “Retailisation” of Private Funds – Key Considerations for Private Fund Managers

The “retailisation” of private funds has been one of the industry’s most significant trends in recent years, with fund managers seeking sources of capital beyond their usual institutional, professional and sophisticated...more

Akin Gump Strauss Hauer & Feld LLP

AML and KYC Obligations (Finally) Imposed on Private Fund Managers

On August 28, 2024, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a final rule that will, upon effectiveness (January 1, 2026), require most private fund managers to...more

Seward & Kissel LLP

SEC Drops Swing Pricing, Adopts Amendments to Form N-PORT and N-CEN and Issues Guidance on Open-End Fund Liquidity Risk Management...

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Who may be interested: Registered Investment Companies; Boards of Directors; Investment Advisers; Compliance Officers; Fund Administrators- Quick Take: In its August 28, 2024, open meeting, the SEC amended fund reporting...more

Akin Gump Strauss Hauer & Feld LLP

Finally, We Know What a Nav Loan Is (According to ILPA)?

Last month, the Institutional Limited Partners Association (“ILPA”) weighed in on the interesting philosophical question that fund formation and finance lawyers frequently debate - what is a NAV loan?  Where is the line...more

SEC Compliance Consultants, Inc. (SEC³)

Latest SEC Document Request Lists: What Private Fund Managers Should be Worrying About

Many private fund managers are breathing a sigh of relief after the Fifth Circuit struck down the Private Fund Rules (check out our blog post for more information). Do not, however, assume the SEC will stop its aggressive...more

Conyers

英領ヴァージン諸島(BVI)籍投資ファンドとBVI承認マネージャー

Conyers on

本文書では、BVIにおいてファンドが活用できる各種オプションの概要をご紹介いたします。 BVI投資ファンドは、会社、リミテッドパートナーシップまたはユニットトラストのいずれかの形態で組成することができます。BVI会社型ファンドは、オープンエンド型ファンドを設立する際に最も一般的な形態です。クローズドエンド型ファンドは、リミテッドパートナーシップの形態で設立されることが多いです。...more

Conyers

BVI Investment Funds and BVI Approved Managers – What Makes Them a Sensible Choice

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The Cayman Islands remains the most popular jurisdiction for offshore investment fund set-ups. However the British Virgin Islands (BVI) offers a range of fund products worth considering. In addition, the BVI provides a...more

Allen Matkins

California's Legislature Mulls Weird Definition Of "Hedge Fund"

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As the California legislature approaches its final recess of the current session, it is continuing to move AB 3129 (Wood), a bill that would according to the bill's digest "require a private equity group or a hedge fund, as...more

Proskauer Rose LLP

Putting Funds in Focus

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We brought together partners from across the world of private funds – buyouts, secondaries, hedge funds, fund finance and wealth solutions – and had them answer some of biggest questions facing GPs and LPs alike. What did...more

Hutchison PLLC

The Power of Genuine Networking for Entrepreneurs With OneSixOne Ventures with Pablo Casilimas and Justis Mendez

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How integral are networking and community-building to becoming a successful entrepreneur? Pablo Casilimas and Justis Mendez of OneSixOne Ventures join Founder Shares to discuss how they harnessed the power of these strategies...more

Foley Hoag LLP

TIC Form SHL-Reporting of Foreign Holdings of U.S. Securities Due August 30, 2024

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Form SHL is a five-year mandatory benchmark survey filing commissioned by the Department of the Treasury and administered by the Federal Reserve Bank of New York (“FRBNY”) applicable to all U.S.-resident issuers with foreign...more

Foley Hoag LLP

Fund Managers Must Assess Whether Microsoft/CrowdStrike Outage has Triggered Additional Form PF Filing

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The CrowdStrike computer failures that swept the globe on Friday, July 18, 2024, and persisted through the weekend may have impacted fund advisers relying on the Windows system, possibly triggering an “operations event” that...more

Conyers

Regulatory & Risk Advisory Review: Cayman Islands - April to June 2024

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Welcome to the second instalment of 2024 of the Regulatory & Risk Advisory Review. In this edition we cover several Cayman Islands regulatory updates including updates to the Beneficial Ownership Transparency Act, the...more

Akin Gump Strauss Hauer & Feld LLP

Fund Managers Must Assess Whether Microsoft/CrowdStrike Outage Has Triggered Additional Regulatory Filings

A global technology outage linked to the cybersecurity firm CrowdStrike crashed Microsoft apps and triggered major disruptions across the asset management sector, along with other global industries. Private fund managers...more

Cadwalader, Wickersham & Taft LLP

A Truly Bingeworthy Series July 2024 - Some Key Considerations When Lending to a Master-Series Fund

Master-series funds are definitely not on our desks on a daily basis; however, they do arise from time to time, and certainly as transactions are becoming more and more bespoke. Care should be taken by lenders when lending to...more

Womble Bond Dickinson

SEC Marketing Rule: Fintech Enforcement Actions

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This alert highlights recent artificial intelligence (AI)-related enforcement actions that the Securities and Exchange Commission (SEC) has brought against investment advisers under the SEC's "Marketing Rule." The enforcement...more

DarrowEverett LLP

Fifth Circuit Puts the Brakes on SEC’s Private Fund Rules: What’s Next For Private Fund Advisers

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In a continuation of recent court decisions overturning the rulemaking authority of federal agencies, a recent decision by the U.S. Court of Appeals for the Fifth Circuit vacated the Securities and Exchange Commission’s (SEC)...more

A&O Shearman

Great Fund Insights: ESMA Guidelines on funds’ names: Tell me your fund name, I’ll tell you your fund strategy

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On 14 May 2024, ESMA published its final guidelines on funds’ names using ESG or sustainability-related terms (the Guidelines). As a result, the use of certain environmental, social and governance (ESG) or...more

DLA Piper

Private Fund Adviser Rules Vacated: Key Takeaways

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A three-judge panel of the US Court of Appeals for the Fifth Circuit unanimously vacated the US Securities and Exchange Commission (SEC)’s private fund adviser rules and amendments (Private Fund Rules), stating that “no part...more

A&O Shearman

UK Financial Conduct Authority Update on Notification of Use of Investment Labels Under Sustainability Disclosure Requirements...

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The FCA has provided an update on how firms should notify the U.S. Financial Conduct Authority when they are using an investment label under the sustainability disclosure requirements and investment labelling regime. Firms...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Preferred Return Podcast | AIFMD II – Implementation Begins

On this episode of “The Preferred Return,” co-hosts Greg Norman and Abigail Reeves look at the Alternative Investment Fund Managers Directive, particularly updates to the EU legislation, which are the most significant to...more

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