The Investment Company Act of 1940 potentially imposes significant regulatory burdens on investment funds. To avoid these constraints, most private equity, venture capital, and hedge funds rely on exemptions under either Section 3(c)(1) or Section 3(c)(7). However, a fund utilizing the Section 3(c)(1) exemption may eventually approach its investor limit (100 or 250, depending on the circumstances) while still seeking to accept new investors. Similarly, a Section 3(c)(7) fund may wish to admit investors who do not qualify as "qualified purchasers."
This program will provide an in-depth exploration of the Section 3(c)(1) and 3(c)(7) exemptions, how to count investors under such exemptions, and discuss how fund sponsors can establish parallel funds to accommodate different investor bases while maintaining regulatory compliance. The discussion will also cover key structuring considerations, potential legal pitfalls, and best practices for fund managers.
This program is designed for fund formation attorneys, as well as in-house counsel at asset managers and investment firms.
Trademark doctrine was built for a marketplace that no longer exists, leaving practitioners to litig...
Class action litigation continues to evolve rapidly in response to an innovative plaintiffs’ b...
Recent studies have shown that there has been a dramatic increase in impairment due to alcoholism, a...
Most legal professionals are operating in survival mode whether they realize it or not. Not crisis-l...
My contract was terminated and the contracting officer did not pay my invoices – what can I do...
Contracting with the Federal Government is not like a business deal between two companies or a contr...
Explore the transformative potential of generative AI in modern litigation. “Generative AI for...
This program provides attorneys with a practical examination of how legal, regulatory, and liability...
Learn about the best strategies and tactics to file bid protests at the agency level, U.S. Governmen...
ChatGPT is rapidly entering law firm workflows, including drafting, summarizing, brainstorming, lega...