Fundraising Trends in Private Equity for GPs and LPs
Podcast - Credit Funds: How PE Funds Can Address and Minimize Conflict When Expanding Into Credit
Across the Board-Episode 6, will your assets be stranded?
So starts the opinion of the United States Court of Appeals for the Ninth Circuit in United States v. MacKenzie: “As Benjamin Franklin said, ‘nothing is certain except death and taxes.’ But how certain are taxes in a Chapter...more
Le 30 novembre 2023, a été publiée au Journal officiel la loi n° 2023-1107 sur la partage de la valeur (la « Loi ») dont l’article 17 prévoit un assouplissement des conditions d’attributions gratuites d’actions (« AGA »)...more
Uncertain Future- The Congressional Budget Office (“CBO”) recently released some data for the federal government’s 2023 fiscal year. According to the CBO, the federal budget deficit for the year was $1.7 trillion, or...more
A trade secret dispute between the co-founders of Rival Games, an international online gaming platform, highlights the critical role that trade secrets and trademarks play in the success of these platforms. As alluded in the...more
ESOPs can pay fair market value for the stock: Stock purchased by an ESOP must be appraised by an independent third party expert working with a trustee for the ESOP who must also be independent from the seller. The ESOP is...more
The Employment (Allocation of Tips) Bill received Royal Assent in May, becoming the Employment (Allocation of Tips) Act 2023 (the “Act”), and is expected to come into force in May 2024. The Act has been introduced after...more
We roll out our December Insurance Update just in time for the holidays. Here’s what’s inside: •The California Supreme Court discusses rules of policy construction in the context of a TCPA claim against Yahoo. •A...more
The United States District Court for the Southern District of Florida, applying Florida law, has held that an insurer had no obligation to provide any coverage for its insured’s unallocated, lump-sum settlement payment made...more
In its June 25, 2021 Press Release, the U.S. Environmental Protection Agency (“USEPA”) presented its plan for utilizing $50 million dollars, allocated to the agency under the American Rescue Plan Act of 2021/Covid-19 stimulus...more
On March 11, 2021, President Joe Biden signed the American Rescue Plan and Recovery Act (“ARPA”) into law. Over the next two years, ARPA will channel $300 billion in fiscal support to municipal governments, many of which were...more
On November 24, 2020, the U.S. Securities and Exchange Commission (SEC) proposed amendments to Rule 701 and Form S-8. In a companion release, the SEC also proposed amendments to Rule 701 and Form S-8 to permit, on a temporary...more
After more than seven years, the EU Parliament formally endorsed the much-anticipated new directive on representative actions for the protection of the collective interests of consumers (the “Directive”). This was the final...more
On September 29, 2020, the US Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued final foreign tax credit regulations (the “2020 Final Regulations”) that include the allocation and...more
The SEC issued an order imposing sanctions against private equity adviser Rialto Capital Management, LLC (“Rialto”) for violations of the Advisors Act relating to expense allocation. The settlement addressed Rialto’s...more
July 30, 2020 The operating agreement is the governing document with respect to the management and conduct of a limited liability company (an “LLC”). It outlines the financial and functional decisions of the business and,...more
The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a risk alert entitled Observations from Examinations of Investment Advisers Managing Private Funds (the “Alert”). The...more
New York Diaspora? Like most every other state in the Union, New York has experienced its share of fiscal stress over the last few decades. The source or cause of its problems? Well, that may depend upon the respondent to...more
Certification Form Must be Submitted by July 10 - California Gov. Gavin Newsom signed the 2020-21 budget directing how the State will distribute its $9.5 billion in Coronavirus Relief Funds provided under the CARES Acts....more
A couple of years ago, I complained about PIABA’s effort to make expungement even more difficult to obtain. Well, fast forward to June 1, and, as Chris Seps explains here, the SEC has approved the first proposed expungement...more
In a new information letter, the U.S. Department of Labor (DOL) concludes offering professionally managed asset allocation funds, which include a private equity component as an investment option in an individual account plan...more
Well, we’ve been waiting for awhile and now it’s been made public: the Department of Health and Human Services (HHS) announced on June 9 that it was releasing $25 billion in funding from the Coronavirus Aid, Relief and...more
In Builders Mut. Ins. Co. v. Island Pointe, LLC, No. 27970, 2020 S.C. LEXIS 68 (May 13, 2020), the South Carolina Supreme Court clarified that insurers are not required and, absent unusual circumstances...more
On December 19, 2019, the Financial Industry Regulatory Authority, Inc. (FINRA) adopted amendments to Rules 5130 and 5131 (the “New Issues Rules”) to permit allocations of initial public offering (IPO) profits to certain...more
FINRA’s rules relating to equity IPOs, on spinning and withholding and IPO allocations, which came into effect following the dot-com bust, were recently amended. The amendments to Rule 5130, relating to restrictions on the...more
Brent A. Morowitz, of counsel in the Corporate and Securities Practice Group of Pepper, was interviewed during The Deal Economy Conference in New York. The conference focused on "Predictions and Perspectives" and explored the...more