The spate of judgments against the SEC and other federal agencies could mean more regulation by enforcement over more clarity in rulemaking. And it may entrench the SEC’s recent penchant for litigation.
Some LPs have been frustrated by what they describe as a loophole in the GPs’ ostensible 80-100% management fee offset.
'Purpose built' offering features LP reporting, portfolio management and accounting.
The facility would be intended to support value accretive add-ons rather than to distribute capital to investors.
After 18 years with the firm, Cirella is calling it a career at the end of the year.
Co-investors often have different expectations and preferences than main fund investors when it comes to GP-led secondaries processes, write Debevoise's Jane Engelhardt, Brett Bush and Lauren Heller.
Teams will fall under joint leadership, with industry vet Jeff Johnston as head.
'We’re seeing more than just skepticism at both levels, it’s a general distaste for what is villainized – and sometimes mislabeled – as the private equity business model,' Holland & Knight's Bill Katz warns.
More firms also could use garden leave to try to keep employees from going to competitors.
In wake of Fifth Circuit decision, rules should be scrapped or carve out private fund managers, groups claim.