July / August 2016 Issue

    Co-investment: No longer a free lunch

    GPs are increasingly charging investors for co-investments, but how much they’re charging varies wildly.

    Land of rising red tape

    Raising money from Japanese investors just got harder for managers outside of the country, writes Monument Group general counsel Molly Diggins.

    And Finally…

    And Finally... 2016-07-01 Happy Friday pfm was intrigued to learn that Credit Suisse has introduced a new scheme called “Protecting Friday Nights”, which gives investment bankers a whole 17 hours of time off at the weekend. Reuters reports that the bank has told staff to leave work by

    Going into lockdown

    Technology isn’t the weakest link in cybersecurity, people are. So how do you monitor both?

    An industry under scrutiny

    The SEC’s recent focus has been on fees and expenses, but the regulator is not stopping there. Thomas Angell looks at current and future enforcement trends and how they willaffect private equity firms.

    The private fund’s guide to broker-dealer registration

    If firms need to register with the SEC and FINRA, what steps should they take? Alan Halfenger, a partner at ACA Compliance Group, explains.

    Finding the right fit

    As fund administration continues to grow and consolidate, firms have more to consider before they choose the right long-term partner for their service provider.

    Trading places

    Industry lobby groups Invest Europe and its transatlantic cousin, the American Investment Council, face similar-but-different challenges. pfm spoke to Dörte Höppner, of Invest Europe, and her American counterpart Mike Sommers.

    Don’t operate in a bubble

    Today’s private funds lawyer is expected to be a specialist but cannot ignore the general business issues a firm faces, say Adveq lawyers John Atherton and Stephanie Aldag.

    LPs push for more diversity

    LPs are starting – albeit very slowly – to push for more diversity at their GPs.

    SEC inspections mean all hands on deck

    Firms must have an examination strategy in place as the regulator increases its scrutiny of private funds.

    Thrown into reverse?

    California’s move to regulate fee reporting could be an unhelpful detour as the industry moves towards standardization.