December tends to pull private fund managers in several competing directions whether it be portfolio companies needing attention, investors wanting year end reporting, valuations needing to be finalized, auditors beginning their work, and the management company considering about what comes next. These competing interests make the year end a particularly useful time to ask a...
Business Transactions
Scroll through most private fund newsletters this year and you’ll see the same three words used over and over: “evergreen”, “continuation”, and “liquidity.” The headlines make it seem like every sponsor is racing to include a semi liquid option in their strategy. However, most of these articles are written for funds managing billions, not for...
Jul232026
When purchasing a commercial property with existing tenants, buyers often begin and end their due diligence with the rent roll. It shows the current rent, lease terms, and security deposits used to evaluate the property’s income. That information is important, but it does not show every obligation the buyer may assume at closing. By acquiring...
Real estate tokenization has been gaining traction from institutional investors, private equity funds, and property developers, leaving traditional real estate investors and fund managers questioning if they should break into the tokenization space. The draw to real estate tokenization centers on its ability to provide greater liquidity, access, and efficiency than the traditional real estate...
In 2025, we saw significant regulatory developments for digital assets. The GENIUS Act was signed into law, while the CLARITY Act passed the House and is currently moving through the Senate. Each act aimed to provide a comprehensive statutory framework designed to provide certainty while fostering innovation in the digital asset ecosystem. As a follow-up...
Many fund managers either do not know the right questions to ask or ask certain questions too late. Once the fund has investors and investor expectations are set, it can be more complicated (or sometimes even impossible) to switch directions. If you’re a fund manager planning to launch your first fund or planning to scale...
On November 17, 2025, the Securities and Exchange Commission’s (“SEC”) Division of Examinations (the “Division”) released its fiscal year 2026 examination priorities (the “Report”) reflecting practices, products and services the Division believes present potentially heightened risks to investors or integrity to the U.S. capital markets. These priorities continue 2025’s focus on fiduciary standards of conduct,...
Imagine you sell your company, and months later, someone calls to tell you that you owe millions. Many business owners fear this nightmare scenario during mergers and acquisitions (M&A). Fortunately, you may minimize that risk with representations and warranties (R&W) insurance. R&W insurance protects both buyers and sellers by backing up the promises they make...