Debevoise & Plimpton discusses Treatment of Special Purposes Vehicles under the Advisers Act

The treatment of special purposes vehicles (“SPVs”) used to facilitate investments in portfolio companies has presented issues under Rule 206(4)-2 under the U.S. Investment Advisers Act of 1940 (the “Custody Rule”) since the current version of the Custody Rule was … Read more

Katten discusses SEC’s Focus on Liquid Alternative Funds Market

Registered investment companies that pursue alternative investment strategies (also referred to as “liquid alts”) are a relatively new form of offering for investment managers accustomed to operating private investment funds. Unlike a private fund, which invests without restrictions, the Investment … Read more