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Kristin Rice-Gonzalez

Kristin Rice-Gonzalez is a partner in the Chicago office and is experienced in fund review and formation, mergers and acquisitions, investment adviser compliance and general corporate law, with an emphasis on real estate, secondary transactions and fund-of-funds.

A significant new rulemaking proposal from the U.S. Securities and Exchange Commission (SEC) would fundamentally alter how private investment funds negotiate and communicate with their investors. The proposal (“Proposal”) would prohibit indemnification of managers for many types of mistakes, restrict some common side letter terms, require auditors to report certain events to the SEC and mandate quarterly reporting for private fund investors. Crucially, some of the Proposal’s prohibitions would, for the first time, substantively regulate unregistered and exempt investment advisers, both inside and outside of the United States.

On August 26, 2020, the U.S. Securities and Exchange Commission (SEC) adopted amendments that expand the definition of “accredited investor” under the Securities Act of 1933, as amended (the Securities Act). These amendments are designed to modernize the definition of “accredited investor” and, among other things, open private offers under…

The coronavirus pandemic has created a series of unprecedented challenges for fund sponsors and general partners (collectively, GPs) of closed-ended private funds in relation to the capital raising and operation of their funds. This article analyses some of the key issues for GPs to consider in these turbulent times. Further…