The Law of Private Investment Funds

This book provides the clearest, most concise analysis available on the legal and regulatory issues arising in connection with private investment funds.

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Author: Timothy Spangler

Publisher: Oxford University Press, USA

ISBN: 0198807244

Category: Law

Page: 416

View: 483

This book provides the clearest, most concise analysis available on the legal and regulatory issues arising in connection with private investment funds. It advises legal practitioners on the structuring, formation, and operation of a range of asset classes, including hedge funds, venture capital funds, private equity funds, and real estate funds.

The Law of Private Investment Funds

Possible approaches would include: (a) changes to the underlying law of the ... that may be adopted by participants in private investment funds to ensure ...

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Author: Timothy Spangler

Publisher: OUP Oxford

ISBN: 9780191635236

Category: Law

Page: 328

View: 174

The new edition of The Law of Private Investment Funds offers a practical analysis of the legal and regulatory issues that arise in connection with the structuring, formation, and operation of private investment funds, including hedge funds, private equity funds, real estate funds, and other non-retail collective investment vehicles. The book provides a unique analysis of these funds on a pan-asset class basis, as well as from a US, UK, and European perspective. The themes of investor protection and fiduciary challenge are considered in the context of the various sources available for investor protection including the substantive rights and obligations under general law, and voluntary and statutory rights of regulation. The author considers the various aspects of running private investment funds against the backdrop of regulation and investor protection. Issues such as structuring and launching, and marketing private investment funds are considered in full. The author also looks at the governance challenge where limited partnerships and offshore companies are concerned. The book identifies governance as a key issue for private investment fund participants and discusses in depth several ways in which managers and fund participants can improve the governance of their funds. In addition it analyses the consequences and impact of the recent global financial crisis on private funds, and the response of the US, UK, and European regulators. The new edition includes increased coverage of best practice and industry guidelines, including the ILPA Guidelines for private equity funds, and the MFA's Best Practices for hedge funds. It also provides discussion of new regulatory regimes in the US and EU, including the Dodd Frank Act and AIFMD.

Funds

Matthew is highly regarded as a straight talking, no nonsense lawyer and it is gratifying to see that this style pervades this important book.

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Author: Matthew Hudson

Publisher: John Wiley & Sons

ISBN: 9781118790380

Category: Business & Economics

Page: 360

View: 294

Investment funds are the driving force behind much global private economic development, and yet the world of investment funds can be complex and confusing. Funds: Private Equity, Hedge and All Core Structures is a practical introductory guide to the legal and commercial context in which funds are raised and invest their money, with examinations of the tax and regulatory background, and an analysis of the key themes and trends that the funds industry face following the financial crisis. The book looks at asset classes, investor return models, the commercial and legal pressures driving different structures and key global jurisdictions for both fund establishment and making investments. It also contains a comprehensive analysis of fund managers, from remuneration, best practice through to regulation. The book is written for readers from all backgrounds, from students or newcomers to the industry to experienced investors looking to branch out into alternative asset classes, or existing asset managers and their advisers wanting to know more about the structures elsewhere within the industry.

Private Equity Funds

"The best guide to private equity funds.

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Author: James M. Schell

Publisher: Law Journal Press

ISBN: 1588520889

Category: Law

Page: 1806

View: 952

"The best guide to private equity funds. Insight and explanations for both fund sponsors and investors. The gold standard." --Andrew Zalasin, General Partner and CFO: RRE Ventures Best Practices for Organizing and Managing a Fund With nearly $7 trillion invested in more than 20,000 funds, investor interest in the private equity industry has returned, despite the economic turmoil of recent years. Still, guidance about the organization and administration of these funds is tough to find. This 1,400+ page resource, will equip corporate lawyers, investment professionals, and tax practitioners and with best practices to manage these funds effectively. Private Equity Funds: Business Structure and Operations covers a wide range of important issues, such as: the key economic differences between various types of funds; structuring the private equity fund to meet economic expectations and investment goals; securing maximum tax benefits for the sponsor of the fund; duties of the fund's General Partner and Investment Advisor; the major regulatory issues affecting the private equity fund; and much more. Private Equity Funds: Business Structure and Operations reflects the aftermath of the financial crisis of 2007 to 2009. The authors also focus on cyber risk and the compliance obligations of investment advisers.

Global Investment Funds

This practical guide features contributions by leading industry specialists on a wide range of issues arising at all stages of a private investment fund's life cycle.

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Author: Tom Alabaster

Publisher:

ISBN: 1911078119

Category: Mutual funds

Page: 265

View: 472

Private Equity

With this book as your guide, you'll gain a firm understanding of the issues surrounding private equity and what it will take to make it work for you.

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Author: Douglas Cumming

Publisher: John Wiley and Sons

ISBN: 0470579552

Category: Business & Economics

Page: 608

View: 948

A comprehensive look at the private equity arena With private equity differing from other asset classes, it requires a whole new approach for those trained in more traditional investments such as stocks and bonds. But with the right guidance, you can gain a firm understanding of everything private equity has to offer. This reliable resource provides a comprehensive view of private equity by describing the current state of research and best practices in this arena. Issues addressed include the structure of private equity funds and fundraising, the financial and real returns of private equity, and the structure of private equity investments with investees, to name a few. Discusses the role of private equity in today's financial environment Provides international perspectives on private equity Details the regulation of private equity markets Filled with in-depth insights and expert advice, this book will provide you with a better understanding of private equity structures and put you in a better position to measure and analyze their performance.

Venture Capital and Private Equity Contracting

With seven new or completely revised chapters covering a range of topics from Fund Size and Diseconomies of Scale to Fundraising and Regulation, this new edition will be essential for financial and legal students and researchers considering ...

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Author: Douglas J. Cumming

Publisher: Academic Press

ISBN: 9780124095960

Category: Business & Economics

Page: 780

View: 861

Other books present corporate finance approaches to the venture capital and private equity industry, but many key decisions require an understanding of the ways that law and economics work together. This revised and updated 2e offers broad perspectives and principles not found in other course books, enabling readers to deduce the economic implications of specific contract terms. This approach avoids the common pitfalls of implying that contractual terms apply equally to firms in any industry anywhere in the world. In the 2e, datasets from over 40 countries are used to analyze and consider limited partnership contracts, compensation agreements, and differences in the structure of limited partnership venture capital funds, corporate venture capital funds, and government venture capital funds. There is also an in-depth study of contracts between different types of venture capital funds and entrepreneurial firms, including security design, and detailed cash flow, control and veto rights. The implications of such contracts for value-added effort and for performance are examined with reference to data from an international perspective. With seven new or completely revised chapters covering a range of topics from Fund Size and Diseconomies of Scale to Fundraising and Regulation, this new edition will be essential for financial and legal students and researchers considering international venture capital and private equity. An analysis of the structure and governance features of venture capital contracts In-depth study of contracts between different types of venture capital funds and entrepreneurial firms Presents international datasets from over 40 countries around the world Additional references on a companion website Contains sample contracts, including limited partnership agreements, term sheets, shareholder agreements, and subscription agreements

Introduction to Private Equity

"While the landscape for private equity is being redrawn, an original roadmap is offered in this new book by Cyril Demaria.

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Author: Cyril Demaria

Publisher: John Wiley & Sons

ISBN: 9780470711880

Category: Business & Economics

Page: 244

View: 330

Introduction to Private Equity is a critical yet grounded guide to the private equity industry. Far more than just another introductory guide, the book blends academic rigour with practical experience to provide a critical perspective of the industry from a professional who has worked at many levels within the industry, including insurance, funds of funds, funds and portfolio companies. The book looks at private equity from the point of view of the individual or the business. How is a private business valued? How is the acquisition transaction processed? What are the due diligence issues that should be considered before moving ahead? A valuable insight to a rather opaque market. Introduction to Private Equity covers the private equity industry as a whole, highlighting its historical development in order to put its recent development into perspective. The book covers its organization, governance and function, then details the various segments within the industry, including LBO, Venture Capital, Mezzanine Financing, Growth Capital and beyond. Finally, it offers a framework to anticipate and understand its future developments. It provides a balanced perspective on the current corporate governance challenges which are affecting the industry and draws perspective to understand the evolution of the sector, following one of its major crises.

Research Handbook on Hedge Funds Private Equity and Alternative Investments

As a result, hedge fund and other private capital pool managers did not benefit from a ... A number of European civil law jurisdictions (including France, ...

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Author: Phoebus Athanassiou

Publisher: Edward Elgar Publishing

ISBN: 9781849806084

Category: Business & Economics

Page: 508

View: 793

This unique and detailed Handbook provides a comprehensive source of analysis and research on alternative investment funds in the EU, the US and other leading jurisdictions. Expert contributors offer an unparalleled perspective on the contemporary alternative funds industry, the main areas of regulatory policy concern surrounding its activities, and the role that alternative funds have played in recent financial crises, as well as an account of the rules governing their operation in selected jurisdictions. Providing insight and analysis of the contemporary investment funds industry at a time of crisis and transition, the Research Handbook on Hedge Funds, Private Equity and Alternative Investments will be a valuable tool for scholars, practitioners and policymakers alike.

Regulating Hedge Funds and Other Private Investment Pools

In addition , the SEC's custody rules under the Advisers Act are insufficient to protect private investment fund assets from theft or prevent other forms of ...

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Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities, Insurance, and Investment

Publisher:

ISBN: UOM:39015090376933

Category: Electronic books

Page: 104

View: 453

A Practical Guide to Private Equity Transactions

This overview of a complex and often misunderstood subject takes the reader through the issues that are faced throughout the life cycle of a private equity investment, from the identification of an opportunity, through the various stages of ...

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Author: Geoff Yates

Publisher: Cambridge University Press

ISBN: 0521193117

Category: Law

Page: 416

View: 285

This overview of a complex and often misunderstood subject takes the reader through the issues that are faced throughout the life cycle of a private equity investment, from the identification of an opportunity, through the various stages of the transaction and the lifetime of the investment, to the eventual exit by the investor. The analysis of key documentation and legal issues covers company law, employment law, pensions, taxation, debt funding and competition law, taking into account recent legal developments such as the Companies Act 2006, the recent emergence of private equity in the UK and the challenges faced by the industry as a result of the financial crisis.

Investment Funds

A global comparison of the laws and regulations that govern investment funds is an invaluable tool to anyone involved in the business.

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Author: Chris Carroll

Publisher: Sweet & Maxwell

ISBN: 1908239085

Category: Financial services industry

Page: 500

View: 216

A global comparison of the laws and regulations that govern investment funds is an invaluable tool to anyone involved in the business.

Legal Protection of Private Equity Investors in China

Moreover, as the most important institutional foundation for Chinese private investment funds, the existing Law of Securities Investment Funds of China ...

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Author: Chi Zhang

Publisher: Routledge

ISBN: 9780429603242

Category: Law

Page: 204

View: 828

This monograph aims to provide an in-depth analysis of the legal protection of the private equity (PE) investors in China. In an academic sense, this research mainly focuses on the agency problems in the life cycle of PE investment under the business organization law system in China. Briefly speaking, the agency problems of PE investment derive from the two-level separation of ownership and control, one of which is the principal–agent relationship between the PE investors and the fund manager, and the other is the principal–agent relationship between the PE shareholders and the management of investee companies. It is the first research to provide an in-depth examination on the investor protection in the PE investment under the business organization law system in China.

Perspectives on Hedge Fund Registration

In addition , the Advisers Act custody provisions exclude certain types of instruments that are commonly owned by private investment funds , an exclusion ...

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Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises

Publisher:

ISBN: PURD:32754081199790

Category: Hedge funds

Page: 162

View: 995

The Comparative Law Yearbook of International Business

to private investment funds. Therefore, a regulation dealing specifically with this category of investment funds may be expected in the future.

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Author: Dennis Campbell

Publisher: Kluwer Law International B.V.

ISBN: 9789041144546

Category: Law

Page: 560

View: 868

With this edition of the Comparative Law Yearbook of International business, experienced practitioners examine a wide range of issues relating to corporate and investment law in Taiwan, Serbia, Switzerland, Japan, Greece, Germany, and the European Union, deal with franchising issues in Ukraine, Spain, Italy, and the review aspects of Internet governance and liability. In the Miscellaneous section of the Yearbook, practitioners review bankruptcy and insolvency in Arab countries, employment of expatriates in Nigeria, exchange controls in Venezuela, regulation of natural gas markets in Greece, and insurance mediation in Spain.

Comparative Law Yearbook of International Business

to private investment funds. Therefore, a regulation dealing specifically with this category of investment funds may be expected in the future.

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Author: Dennis Campbell

Publisher: Kluwer Law International B.V.

ISBN: 9789041128010

Category: Law

Page: 560

View: 433

With this edition of the Comparative Law Yearbook of International business, experienced practitioners examine a wide range of issues relating to corporate and investment law in Taiwan, Serbia, Switzerland, Japan, Greece, Germany, and the European Union, deal with franchising issues in Ukraine, Spain, Italy, and the review aspects of Internet governance and liability. In the Miscellaneous section of the Yearbook, practitioners review bankruptcy and insolvency in Arab countries, employment of expatriates in Nigeria, exchange controls in Venezuela, regulation of natural gas markets in Greece, and insurance mediation in Spain.

Corporate Governance and Investment Management

22 Based on the general law of professional negligence, see Timothy Spangler, The Law of Private Investment Funds (2008), above at paras 4.18–4.25; ...

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Author: Roger M. Barker

Publisher: Edward Elgar Publishing

ISBN: 9781784713522

Category:

Page: 528

View: 215

Shareholder engagement with publicly listed companies is often seen as a key means to monitor corporate malpractices. In this book, the authors examine the corporate governance roles of key institutional investors in UK corporate equity, including pension funds, insurance companies, collective investment funds, hedge and private equity funds and sovereign wealth funds. They argue that institutions’ corporate governance roles are an instrument ultimately shaped by private interests and market forces, as well as law and regulatory obligations, and that policy-makers should not readily make assumptions regarding their effectiveness, or their alignment with public interest or social good.

A Practical Guide to Private Equity Transactions

"This overview of a complex and often misunderstood subject takes the reader through the issues that are faced throughout the life cycle of a private equity investment, from the identification of an opportunity, through the various stages ...

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Author: Geoff Yates

Publisher:

ISBN: OCLC:1010899579

Category: Private companies

Page: 402

View: 926

"This overview of a complex and often misunderstood subject takes the reader through the issues that are faced throughout the life cycle of a private equity investment, from the identification of an opportunity, through the various stages of the transaction and the lifetime of the investment, to the eventual exit by the investor. The analysis of key documentation and legal issues covers company law, employment law, pensions, taxation, debt funding and competition law, taking into account recent legal developments such as the Companies Act 2006, the recent emergence of private equity in the UK and the challenges faced by the industry as a result of the financial crisis"--Provided by publisher.

The Alternative Investment Fund Managers Directive

John Lore is the Managing Partner of Capital Fund Law Group in New York City. ... operating real estate funds, hedge funds, private equity funds and other ...

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Author: Dirk Zetzsche

Publisher: Kluwer Law International B.V.

ISBN: 9789403509150

Category: Law

Page: 1080

View: 801

In the ten years since its coming into force, the Alternative Investment Fund Managers Directive (AIFMD), with almost EUR 7 trillion assets under management in its remit, has become an important piece of European regulation complementing the Undertakings for Collective Investment in Transferable Securities (UCITS) and the Markets in Financial Instruments (MiFI) frameworks. This third edition of the most comprehensive and in-depth analysis of the AIFMD and its related European investment fund legislation (including the European Venture Capital Fund Regulation, the European Social Entrepreneurship Fund Regulation, the European Long-Term Investment Fund Regulation and the European Money Market Fund Regulation among others) brings together fund industry experts, fund supervisors, consultants, lawyers and academics to discuss the content and system of the directive from every angle, including its relation not only to the UCITS and MiFI frameworks but also to pension funds, the Sustainable Finance Disclosure Regulation, the Securitization Regulation and the Cross Border Funds Distribution Directive and Regulation, as well as related pieces of tax regulation at the European level. Further, the third edition emphasizes the function of such factors in the financial services value chain as the following: the AIFMD’s approach to robo-advisors; digital asset funds; infrastructure investments in the context of real estate and sustainable investments; risk management; transparency; and impact on alternative investment strategies. Five country reports, focusing on the European Union’s five most important financial centres for alternative investment funds, deal with the potential interactions among the AIFMD and the relevant laws and regulations of France, Germany, Luxembourg, Ireland and The Netherlands. This thoroughly updated edition elaborates on potential difficulties encountered when applying the directive and provides potential solutions to the problems it raises. The book is sure to be warmly welcomed by fund lawyers and consultants, investors and their counsels, fund managers, depositaries, asset managers and administrators, as well as regulators and academics in the field.