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A court of appeals decision in the US this week to render null and void the SEC’s private fund rule doesn’t signal the end of efforts to better protect investors.
Despite a record year for fundraising, growth in the secondaries market has been hampered by a lack of liquid capital.
Iron Road Partners’ Igor Rozenblit – former co-head of the SEC's private funds unit – details concerns and red flags the regulator will be looking for following the passing of its private market rules last year.
In episode five of the Decade of Secondaries Investing podcast miniseries, Iron Road Partners’ Igor Rozenblit and Ropes & Gray’s Isabel Dische discuss the regulatory landscape facing secondaries and analyse which rules are set to have the biggest impact.
Uncertainty about the use of proceeds poses an issue for NAV lenders looking to manage ESG risks.
The country's official cabinet has published a nine-point circular to ‘strengthen supervision’ on capital markets, including updates on listing process and delisting regulations.
The SEC’s decision to grant Coller Capital and Pantheon permission to shop their secondaries-focused evergreen vehicles to high-net-worth investors could prompt more players to follow suit.
Impact investor Summa Equity closed Summa Circular, believed to be the first Article 9 continuation fund, in December, breaking new ground for the secondaries market.
Whatever happens to the SEC rules, the trade group hopes the industry can unite to raise the floor on transparency.
Updates to how effectively connected income is treated may lead to an easier and more standardised process for secondaries transfers, argue lawyers from Macfarlanes.