Signed into law on July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) reshapes the tax landscape for many transactions. The OBBBA is one of the most significant overhauls to the U.S. tax code since the Tax Cuts and Jobs Act of 2017 (“TCJA”). Buried in the headlines are several provisions with real, immediate...
Corporate & Securities
With lower barriers to fund formation, more accessible technology, and a growing pool of sophisticated investors, the number of first-time fund managers has grown substantially. Generally speaking, this new wave of operators, executives, and investors is good for the market. However, many emerging managers are excellent at identifying deals but less experienced navigating the legal...
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...
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,...
Although private real estate funds and REITs seem like similar real estate investment vehicles, the two are very different. For sponsors setting up a real estate investment vehicle, it’s important to understand the characteristics of both. Below is a breakdown of each investment vehicle and important considerations. Real Estate Investment Trusts (REITs) A real estate...
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...
When it comes to mergers and acquisitions (M&A), the numbers on a balance sheet only tell part of the story. While financial modeling and due diligence are important, one of the biggest and often overlooked risks in any transaction comes from the people behind the business. The success or failure of an acquisition often depends...