News & Analysis as of

Fiduciary Duty Fund Sponsors

Goodwin

Private Fund Sponsors Remain in Spotlight of the SEC’s Examination Priorities

Goodwin on

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

Proskauer - The Capital Commitment

Portfolio Company Risk: Plaintiffs Set Sights on Sponsors and Board Directors

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

Proskauer - The Capital Commitment

The Portfolio Company Playbook – Chapter 2: Navigating Risk from Conflicts of Interest

Private funds frequently negotiate for special rights when making an investment in a portfolio company, such as the right to appoint one or more board directors, voting rights, and liquidation preferences. Fund sponsors often...more

Proskauer - The Capital Commitment

Portfolio Company Insolvency: Risk Mitigation Strategies for Fund Sponsors and Board Designees

COVID-19 continues to disrupt normal business operations, creating liquidity problems and negative working capital for many companies. As fund sponsors take actions to help their portfolio companies navigate through this...more

Proskauer - The Capital Commitment

The Portfolio Company Playbook – Chapter 1: A Fund Sponsor’s Guide to Navigating Risks, Conflicts, and Regulatory Concerns Arising...

Over the last few years, we have seen an uptick in litigation claims against sponsors and funds arising out of their interests in portfolio companies. A fund sponsor’s participation on a portfolio company board, in...more

Proskauer - The Capital Commitment

Ten Tips for Navigating Risks and Liability at Portfolio Companies During COVID-19

Many portfolio companies continue to confront business disruptions as a result of the COVID-19 pandemic. Even prior to the pandemic, we were seeing an uptick in litigation claims against sponsors and funds arising out of...more

Latham & Watkins LLP

Fund-to-Fund Transfers on the Rise as Deal Flow Slows

Latham & Watkins LLP on

Negotiating market price, fund economics, management and other investors, documents, and approvals are key to leveraging fund-to-fund transfers. Following significant fundraising activity, sponsors have substantial capital...more

Bennett Jones LLP

What You Need to Know About ILPA Principles 3.0

Bennett Jones LLP on

The Institutional Limited Partners Association (ILPA) recently released the latest version of its principles, ILPA Principles 3.0. The updated principles provide a detailed selection of best practices for participants in the...more

Vedder Price

Investment Services Regulatory Update - February 2018

Vedder Price on

New Rules, Proposed Rules, Guidance and Alerts – SEC STAFF GUIDANCE AND ALERTS - SEC Staff Issues Guidance on Cryptocurrency-related Holdings - On January 18, 2018, the staff of the SEC’s Division of Investment...more

Proskauer - The Capital Commitment

Fund Restructurings: How to Navigate a Conflict-Rich Environment

The number of private equity fund restructurings is likely to rise in the coming years. The current economic expansion will inevitably come to an end (at 87 months and counting, this expansion is already the third longest...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

My Support for a Fiduciary Rule

The current way that retirement plans are handled by registered investment advisors who are fiduciaries and the bulk of brokers who are not can be explained in a similar, following situation....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL Proposes New Fiduciary Rule

Maybe it wasn’t Moses speaking from Mount Sinai, but the Department of Labor (DOL) proposed a new fiduciary rule that will change how retirement plan providers give advice. This is a re-proposal of a rule that was previously...more

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