The Investment Company Act of 1940 potentially imposes significant regulatory burdens on investment funds. To avoid these constraints, most private equity, venture capital, and hedge funds rely on exemptions under either Section 3(c)(1) or Section 3(c)(7). However, a fund utilizing the Section 3(c)(1) exemption may eventually approach its investor limit (100 or 250, depending on the circumstances) while still seeking to accept new investors. Similarly, a Section 3(c)(7) fund may wish to admit investors who do not qualify as "qualified purchasers."
This program will provide an in-depth exploration of the Section 3(c)(1) and 3(c)(7) exemptions, how to count investors under such exemptions, and discuss how fund sponsors can establish parallel funds to accommodate different investor bases while maintaining regulatory compliance. The discussion will also cover key structuring considerations, potential legal pitfalls, and best practices for fund managers.
This program is designed for fund formation attorneys, as well as in-house counsel at asset managers and investment firms.
Adverse and derogatory information often has devastating effects on a contractor's ability to win co...
This dynamic CLE presentation challenges trial lawyers to rethink everything they were taught about ...
Modern mediation increasingly brings together parties, counsel, and neutrals across a broad range of...
This course on trade secrets litigation provides real-world best practices through all key stages of...
This CLE course will provide critical insight to counsel for insurers facing bad faith claims on how...
Estate planning for LGBTQ+ clients and families formed through assisted reproductive technology requ...
Have you felt overwhelmed by the amount of technology available to family lawyers? We'll get to know...
This program provides a practical roadmap to mastering every stage of the discovery process in civil...
Lawyers regularly communicate with clients who are angry, overwhelmed, frightened, unrealistic, or d...
In 1968, English rock band The Zombies released their psychedelic counterculture anthem, “Time...