Legal & Regulation

Getting a fairness or valuation opinion on a private equity GP-led secondaries transaction is a straightforward, albeit costly task. In credit secondaries, however, the rule change creates a cumbersome burden.

A footnote in the US Securities and Exchange Commission's new rules suggests continuation funds structured as cross fund trades won't be subject to third-party fairness opinion and valuation letters.

The SEC’s vote this week that makes third-party opinions in continuation fund transactions mandatory was a practice that was already becoming a market norm.

Clark joins the Magic Circle firm as head of its global funds practice from Goodwin.

Our latest poll of the legal world suggests a $1trn market isn’t far off.

Now in its seventh year, our latest survey of law firm activity shows an industry advising on a collective $754bn of transaction volume.

The trade group has issued guidance to address concerns over conflicts and the speed of GP-led deals.

The SEC’s aim for more standardised GP-led real estate secondaries transactions will step up a gear with the likely introduction of regulations in 2024.

The US regulator's vote this week to require greater disclosure from private fund sponsors is the tip of the upcoming regulatory iceberg.

Sponsor-initiated processes will have to be reported to the regulator within 60 days from the end of each quarter.