Regulation

Managers are utilising mechanisms such as convertible debt instruments, put options and minimum returns to mitigate uncertainty over exits.

The proposal comes as the SEC tightens scrutiny on private equity under chairman Gary Gensler.

A lack of transparency in GP-led deals can backfire on general partners, says former ILPA chairman and CalPERS veteran Joncarlo Mark.

Separately managed accounts could stand to win from the US regulator’s bid to promote transparency around preferential fund terms.

Recent SEC proposals could upend practices that have been 'widely accepted for decades in the PE industry', says Morgan Lewis partner Jedd Wider.

Transparency and education are key pillars for individual investor access to private equity, a panel has heard.

The devil is in the detail when it comes to the US regulator’s proposals to level the playing field in private markets.

The commission proposed rules for the first time that would outright ban certain practices – a move away from its traditional focus on making sure GPs are providing LPs with appropriate disclosure.

If brought into law, the proposals would include ban a raft of fees, expenses and business practices in all private funds.

The firm's co-chief executive says barriers to entry in the private assets industry have gone up.