In the Loop: The Feds Will See You Now
The Federal Trade Commission, under Chairman Andrew Ferguson, has launched a new healthcare task‑force aimed at tightening antitrust oversight of the sector. The unit will focus on merger reviews, pricing practices, and data‑driven market analyses. Private equity and hedge fund managers, who have been active in healthcare acquisitions, warn that the task‑force could expose deeper regulatory risks than previously anticipated. The move signals a more aggressive federal stance on competition in health‑related markets.
As World Order Fractures, Sanctions Risks Grow
Sanctions risk is rising as the global order fragments, prompting tighter scrutiny of private funds. Vincent Gaudel of LexisNexis Risk Solutions emphasizes that fund managers now act as gatekeepers rather than bystanders. The expanding network of unilateral sanctions forces managers...
Mayer Brown Adds LA Funds Partner
Law firm Mayer Brown announced the addition of a Los Angeles-based partner specializing in private fund matters. The new attorney will advise clients on fund formation, secondary market transactions, and institutional investor mandates. This hire bolsters Mayer Brown’s West Coast...
SEC Waives Fine in Valuations Case
The U.S. Securities and Exchange Commission (SEC) has waived the monetary penalty against accounting firm EisnerAmper in a valuations case tied to the Infinity Q scandal. While the firm accepted a formal censure, it avoided any financial fine as the...
Survey: GPs Grapple with Fund Finance Frictions
A new survey by Private Funds CFO reveals that general partners (GPs) are encountering significant frictions in fund finance. Sponsors express frustration over heavy information requirements and the cumbersome process of comparing lending term sheets. The study indicates that redundant...
CLOs Don’t Count Against Fund of Fund Caps
The U.S. Securities and Exchange Commission issued new guidance stating that collateralized loan obligations (CLOs) are not considered fund‑like investments for the purpose of fund‑of‑fund (FoF) investment caps. The clarification means that FoF managers can allocate to CLOs without those...
Survey: GPs Face Growing Pressure to Modernize Operations
A recent survey reveals that general partners (GPs) are under mounting pressure to modernize their operations as operational resilience becomes a strategic priority. Challenges stem from increasingly complex technology integration, escalating data management demands, and a tightening talent market. The...
Proskauer Bolsters Private Funds Platform
Proskauer Rose announced a series of senior hires to expand its private funds platform, adding partners with deep experience in fund formation, regulatory compliance, and capital‑markets transactions. The new talent bolsters the firm’s ability to serve private‑equity, venture‑capital and hedge‑fund...
Cliffwater CIO: Time to Reconsider NAV ‘Squeezing’ in Secondaries
Cliffwater’s chief investment officer warns that the common practice of NAV squeezing in private‑equity secondaries creates a hidden form of time arbitrage. He argues evergreen funds buying into secondary vehicles at similar stages are forced into unfavorable pricing. The CIO...
A High Bar for Evergreen Valuations
Evergreen private equity funds are under increasing pressure to maintain rigorous, real‑time valuations. General partners’ internal marks now feed directly into faster net asset value (NAV) calculations, accelerating reporting cycles. These valuations are bound by heightened legal obligations, requiring strict...
The Evolving Nature of Direct Secondaries Valuations
Direct secondaries are emerging as a leading exit strategy for private‑equity portfolios, prompting a reassessment of how these assets are valued. Subu Parmeswaran of Valuation Research Corporation highlights that traditional static models no longer capture the nuanced risk‑adjusted returns of these...
Embedding AI: The Next Step
Generative AI is transitioning from experimental projects to core business workflows. Companies are now emphasizing data readiness, robust governance, and quantifiable productivity improvements rather than lofty automation promises. This shift reflects a pragmatic approach to AI adoption, focusing on measurable...
New Faces of Finance: Hands-On Work Is Key for Development
The latest "New Faces of Finance" roster spotlights emerging finance professionals who credit hands‑on experience as the catalyst for their rapid advancement. Each profile details a blend of early‑stage operational roles, mentorship, and digital fluency that propelled them into senior...
‘What We Don’t Want Are Bad Apples,’ DCALTA Founder Says
Jonathan Epstein, founder of DCALTA, has spent over a decade lobbying for retirement savers to gain access to private‑fund investments. He argues that broader participation can boost portfolio diversification and returns for workers. On the brink of a major regulatory...
CFO Insights: Future Standard’s McGeehin on GP M&A, Retail
Future Standard’s CFO McGeehin highlighted two dominant trends shaping private‑equity sponsors at the Private Funds CFO New York Forum. First, general‑partner (GP) mergers and acquisitions are gaining momentum as firms seek scale, talent, and diversified product suites. Second, retail‑focused strategies...
ICapital to Bolster GP Ties with Passthrough Deal
iCapital has completed an acquisition of Passthrough, a technology provider for private‑fund managers. The deal is designed to strengthen iCapital’s relationships with general partners by integrating Passthrough’s workflow solutions. With the combined platform, iCapital can now offer sponsors a unified...
Gen II Bulks up Private Credit Offering with US Bank Leader
Gen II announced a strategic hire of the former head of CLO and loan agency services from US Bank, bolstering its private credit platform. The addition expands Gen II’s expertise in collateralized loan obligations and loan administration. The move reflects...
Credit Manager M&A Spree Raises Diligence Issues for LPs
Credit managers are accelerating mergers and acquisitions, sparking a wave of private‑debt GP consolidation. Fund allocators such as Goldman Sachs’ external investing group and Allianz Global Investors are sharpening their focus on this trend. The surge in deals expands assets...
Submit Responses to Our Annual Fees & Expenses Survey
The Private Funds CFO platform has launched its seventh annual Fees & Expenses Survey, now conducted with law firms Troutman Pepper Locke and Withum. The survey seeks detailed input on management fees, performance incentives, and ancillary costs from fund managers,...
GPs Add Fund ABS Into the Mix for Evergreens
General Partners are increasingly packaging tranches of perpetual, or evergreen, vehicles into fund‑backed asset‑backed securities (ABS). This hybrid structure blends the long‑term capital base of evergreen funds with the liquidity and tradability of securitisation. Early issuances show strong investor appetite,...
