The Capital Commitment

Proskauer on Private Fund Litigation

Joel Cavanaugh

Joel Cavanaugh

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Portfolio Company Litigation: Some Practical Considerations for Board-Designees of Private Funds

Individuals affiliated with private fund managers are increasingly being named as defendants in lawsuits involving fund portfolio companies, particularly where the fund controls one or more seats on the portfolio company’s board, or where an individual affiliated with the fund sponsor serves as a senior executive at the portfolio company. When an individual affiliated with … Continue Reading

A Commonsense Explanation of the SEC’s Regulation of Private Investment Funds

The SEC’s regulation of the private investment funds industry has generated significant attention and commentary, as well as a fair amount of hand-wringing.  From our perspective as lawyers, however, there is a relatively commonsense explanation for the SEC’s approach.  Rather than acting with a heavy-hand by imposing a comprehensive set of “regulations,” the SEC is … Continue Reading

SEC Chair Shines a Spotlight on “Unicorns” in Silicon Valley Remarks

On March 31, 2016, SEC Chair Mary Jo White delivered the keynote address at the Silicon Valley Initiative hosted by the SEC-Rock Center for Corporate Governance at Stanford University.  A substantial portion of Chair White’s remarks focused on “unicorns,” or private start-up companies with valuations exceeding $1 billion.  Chair White’s comments reflect the SEC’s apparent … Continue Reading

2016 Hot Topics for Private Fund Sponsors

This year, private investment funds are likely to face increased regulatory scrutiny and litigation risk. This is due to several market developments, including transparency and compliance initiatives of limited partners. There are several areas that should be on every private fund sponsor’s list. Fees and expenses will continue to be a top priority for the … Continue Reading

6 Questions PE Sponsors Must Ask About Their GPL Policies

the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt the manual excerpt … Continue Reading

Don’t Get Burned by the “Sunshine:” Risk Factors for Venture Capital Firms in an Era of Increasing SEC Scrutiny

Andrew J. Bowden, the Director of the SEC’s Office of Compliance Inspections and Examinations, gave a speech entitled “Spreading Sunshine in Private Equity” in May 2014. While sounding cheery, the “spreading sunshine” metaphor was an ironic evocation of Justice Brandeis’s famous statement that “sunlight is said to be the best of disinfectants” in response to … Continue Reading
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