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.
Join us for Part 2 of a program tailored for attorneys seeking a better understanding of the ongoing...
Most legal professionals are operating in survival mode whether they realize it or not. Not crisis-l...
What are the left and rights limits, penalties, and best practices for export controls under Interna...
As law firms increasingly transition from paper-based disbursements to electronic payment systems&md...
The Federal Tort Claims Act is the way that the federal government is sued for negligence. There are...
Between 1986 and now, the U.S. Government collected approximately $85 billion from Federal Contracto...
Contracting with the Federal Government is not like a business deal between two companies or a contr...
AI, an innovative technology that was once a supporting act for digital transformation, business str...
Learn about the best strategies and tactics to file bid protests at the agency level, U.S. Governmen...
This program will address the ethical obligations of Lawyer Advocates representing clients in mediat...