Mon, Jul 6, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Current legal landscape for investment managers raising funds in the U.S.

Wednesday, March 27, 2013

amb
Benedicte Gravrand, Opalesque Exclusive:

Stephen C. Tirrell, Partner at global law firm Bingham McCutchen, New York, talked to me about the existing legal landscape for new investment managers who want to raise private funds in the U.S., with a focus on the Investment Advisers Act, the Securities Act, the Investment Company Act, the Exchange Act and the JOBS Act.

Opalesque: Please tell me about the legal landscape that investment managers have to consider when raising any private fund in the United States.

Stephen Tirrell: Essentially there are four different regulations that we have to consider; the Investment Advisers Act, the Securities Act, the Investment Company Act, and the Exchange Act.

They act in one or more fashion with respect to either the advisory entity or the fund entity. And in each instance, at least in the Securities Act and the Investment Company Act, there are exemptions from registration that private fund managers typically rely on with respect to the private funds that they sponsor.

The Securities Act is the Act that governs the offering of shares to investors in the market. Typically private funds don’t register their shares under the Securities Act with the Securities and Exchange Commission (SEC) but rely on an exemption from registration. Therefore, no registration filing is re......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: New systematic strategy managed alongside research firm outperforms S&P500[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging CTA manager explains how he runs his strategy, which is based on an index produced by a research firm. Peter Turk is head of

  2. Opalesque Exclusive: New systematic strategy embraces machine learning[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The founder of a New York-based systematic trading firm, which offers a hybrid between alpha strategies and alternative feta at lower fees, describes his approa

  3. Larry Robbins' hedge fund Glenview buys 1m Tenet Healthcare shares[more]

    Komfie Manalo, Opalesque Asia: Glenview Capital Management said it bought an additional 979,482 shares at Tenet Healthcare Corp valued at $53.80 million, raising its stakes in the healthcare services company to 15.16%, reported

  4. Legal - Grayson’s hedge funds under scrutiny for possible ethics violations, Court rejects hedge fund’s motion to block merger of Samsung affiliates[more]

    Grayson’s hedge funds under scrutiny for possible ethics violations From Freebeacon.com: Rep. Alan Grayson is finding himself in hot water over managing hedge funds that bear his name, actions that are in possible violation of House ethics rules. Sitting members of Congress are prohibite

  5. Hedge funds decline in June as stocks tumble on Greek woes[more]

    From Bloomberg.com: Hedge funds posted losses across strategies last month as uncertainty over whether Greece will remain in the euro sent global stock markets tumbling. Winton Capital Management declined about 3.1 percent in June in its $12.1 billion Winton Futures Fund, leaving it down 1.9 percent

 

banner