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What the new SEC Private Fund Rules mean for Institutional Investors
October 17, 2023 @ 11:30 am - 12:30 pm
In August, the Securities and Exchange Commission recently put in place a series of new regulations for private fund advisors. And while many have been talking about the effects of these regulations on managers, the IMDDA is going to be talking about how the effect of these regulations’ investors. The SEC stated that these new rules and amendments were designed to protect private fund investors by increasing transparency, competition, and efficiency in the private funds market. The IMDDA panel of experts will discuss these points and determine the veracity of these SEC claims.
The webinar is on October 17, 2023, at 11.30 am EDT. The panelists and their backgrounds are detailed below.
Questions to be discussed will include:
- How different are the new SEC rules from what previously existed? Are they simply an extension of topics pursued in recent SEC audits of fund managers?
- How difficult and expensive it will be to comply with these regulations?
- How are GPs reacting to these new rules? Do you see a difference in reaction based on the size of the fund manager or different types of fund managers – buyout, VC, hedge fund, real assets, private debt?
- How are LPs reacting to these new rules?
There will also be a chance for members of the audience to file questions online.
The panelists are:
Daniel Strachman – Co-Founder of the IMDDA and Managing Partner of A&C Advisors LLC
Robert Sutton – Partner of the Private Funds Group at Proskauer
Merryn Rosewall, – Principal, Quality Control at Gen II Fund Services
Moderated by
Kelly DePonte – IMDDA Advisory Board Member and Managing Director at Probitas Partners
Panelists
Robert Sutton is a partner of the Private Funds Group and a member of the Corporate Department. He is a seasoned practitioner with over 20 years of experience counseling managers and advisers of private funds on regulatory matters, as well as regulatory issues related to the formation and operation of private equity, credit, real estate, infrastructure, hedge and other private funds.
Rob has a deep knowledge of the market practice of asset managers and in particular, as it relates to Advisers Act-related issues. From some of the largest and most sophisticated firms in the global asset management industry to start-ups and mid-sized firms, Rob’s experience includes a wide spectrum of funds and asset classes across their life cycles.
With Gen II Fund Services, LLC since 2017, Merryn is a Principal in Gen II’s Quality Control department. He has over twenty-five years of accounting experience, primarily in the asset management industry, including sixteen years of audit experience with PricewaterhouseCoopers in New York, and Ernst & Young in London and Sydney. Other industry experience includes positions at Goldman Sachs and Fortress Investment Group.
Merryn is a chartered accountant and holds a Bachelor of Science in Microbiology from Imperial College of Science, Technology and Medicine, London. He also holds a graduate diploma in Applied Finance and Investment from the Securities Institute of Australia.
Daniel Strachman has been working on Wall Street for more than twenty-four years in various capacities, including investment management, institutional brokerage, insurance, hedge fund and mutual fund product development, marketing and distribution. He currently serves as Managing Partner of A&C Advisors LLC, a firm that provides strategic consulting and fund governance services to the investment management industry. In this capacity, Mr. Strachman serves as a director to both on-shore and offshore investment vehicles. He is a registered director under the Directors Registration and Licensing Law, 2014 of the Cayman Islands. He has worked at firms including Morgan Stanley, Cantor Fitzgerald and Orbitex Financial Services Group. He is the Co-Founder of the Investment Management Due Diligence Association Inc., the largest independent organization singularly focused on due diligence education. Mr. Strachman is a FINRA Arbitrator.
Mr. Strachman, an accomplished writer specializing in finance, has written extensively about the money management industry and is the author of nine books including: The Fundamentals of Hedge Fund Management, Getting Started in Hedge Funds, The Long and Short of Hedge Fund, and Essential Stock Picking Strategies. His is also the author of Julian Robertson: A Tiger in the land of Bulls and Bears.
Mr. Strachman graduated from Clark University with a Bachelor of Arts in 1993.
Moderator
Kelly is a Managing Director at Probitas Partners, a global alternative investment placement agent, responsible for research. He has 30 years of experience in private alternative fund investing and fundraising. Previously he was the Chief Operating Officer at Pacific Corporate Group, a consultant and fund-of-funds manager, focused on the private equity partnership investment program globally. Before joining PCG, Kelly held various positions at First Interstate Bancorp, including management of a $170 million private equity and venture capital portfolio as well as a separate SBIC. He has an MBA from the UCLA Anderson School of Management and a BA from Stanford University. He is currently a member of the Advisory Board at the Investment Management Due Diligence Association and a member of the Board of Trustees of the Bennington Museum.