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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

Cooley LLP

Venture Capital Fund Managers’ Guide to Applying the Latest Marketing Rule Risk Alert

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One of the most important documents for fund managers is the marketing deck. Whether it’s to raise a new fund or a special purpose vehicle, or just to build relationships with prospective investors, every fund manager has...more

Goodwin

How Much Must Managers ‘Deploy’ From an Existing Fund Before Starting a Successor?

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Fund documents usually stipulate a percentage (70% to 75%, in most cases), but the terms used in provisions can have a significant effect on what the percentage means in practice. Most fund managers operate multiple...more

Lowenstein Sandler LLP

AML Best Practices for Private Fund Managers: The Prudence of Establishing an AML Compliance Program

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I. Introduction- U.S. hedge funds, private equity funds, and venture capital funds (collectively, the Private Funds),1 and their U.S. general partners, sponsors, and managers (Advisers), are not directly subject to the...more

Mintz

Fund Manager Annual Update

Mintz on

The SEC brought a record number of enforcement actions against investment advisers in 2015, resulting in approximately $4.2 billion in sanctions.1 This alert highlights current issues for private equity, venture capital and...more

Goodwin

Commerce Department Survey of Financial Services Transactions with Foreign Persons Due November 1, 2015

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The Commerce Department’s BE-180 Survey of Financial Services Transactions is a mandatory benchmark survey conducted every five years and administered by the Bureau of Economic Analysis (the “BEA”). Reports are required by...more

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