Our Private Equity Group is considered the go-to practice for complex, bespoke and firm-defining transactions. With clients ranging from the world’s leading institutional asset managers to prominent middle-market private equity and growth equity firms, we offer comprehensive advice to general partners, limited partners, co-investors and other equity stakeholders, as well as portfolio companies, lenders and financial sponsor groups. The depth and continuity of our relationships across the industry gives us a nuanced understanding of each client’s objectives and allows us to provide seamless, efficient counsel across the investment lifecycle.
Regulation of Private Fund Advisers Imminent
June 17, 2009
On June 17, 2009, the U.S. Department of the Treasury released President Barack Obama's plan to overhaul the U.S. financial regulatory system entitled "Financial Regulatory Reform - A New Foundation: Rebuilding Financial Supervision and Regulation" (the "Plan"). Among other things, the Plan proposes (i) the registration of private fund advisers whose assets under management exceed "some modest threshold," (ii) required disclosures by private funds advised by an SEC-registered adviser and (iii) strict regulation of private funds that may pose a threat to financial stability. The announcement of the Plan comes just one day after Senator Jack Reed introduced the Private Fund Transparency Act of 2009, which also calls for the registration of certain private fund advisers.