Legal & Regulation

The need for standardisation in secondaries rears its head…again

Eye-watering legal charges have been likened to ‘racketeering’; industry co-operation could solve the problem.

‘Last mile’ legal costs of fund transfers leave LPs to foot the bill

Transfer agreements are seen as a $100,000 ‘copy & paste job’ by some and ‘complex legal contracts’ that law firms are losing money on by others.

SI Law Firm Survey 2024 – how firms defined their legal activity

To create a more comprehensive apples-to-apples comparison, respondents to Secondaries Investor’s annual law firm survey were provided with this set of parameters.

All for nothing?

A court of appeals decision in the US this week to render null and void the SEC’s private fund rule doesn’t signal the end of efforts to better protect investors.

Roundtable: Is secondaries private markets’ most undercapitalised asset class?

Despite a record year for fundraising, growth in the secondaries market has been hampered by a lack of liquid capital.

What the SEC looks for in GP-led secondaries transactions

Iron Road Partners’ Igor Rozenblit – former co-head of the SEC’s private funds unit – details concerns and red flags the regulator will be looking for following the passing of its private market rules last year.

SI Decade: Inside the biggest regulation changes to secondaries

In episode five of the Decade of Secondaries Investing podcast miniseries, Iron Road Partners’ Igor Rozenblit and Ropes & Gray’s Isabel Dische discuss the regulatory landscape facing secondaries and analyse which rules are set to have the biggest impact.

Five recent trends impacting continuation fund SPAs

Lawyers from Skadden, Arps examine how sale and purchase agreements have evolved to better fit sponsor-initiated processes.

NAV financing presents an ESG challenge

Uncertainty about the use of proceeds poses an issue for NAV lenders looking to manage ESG risks.

Bain: China’s new IPO regulations could bolster secondaries market

The country’s official cabinet has published a nine-point circular to ‘strengthen supervision’ on capital markets, including updates on listing process and delisting regulations.