United States: Fund Management/ REITs

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Finance law and banking law thought leadership, articles, podcasts, videos and webinars from expert sources across the legal world. Explore insights covering topics such as capital adequacy, BASEL, acquisition finance, debt capital markets, fund finance, islamic finance, securitization and structured finance.
Article
BDC Facts & Stats 2026
Business development companies (BDCs) have become a critical financing source for private equity-backed small- and middle-market companies while offering investors attractive private credit exposure. As the BDC market matures, sponsors and investors are increasingly exploring alternative structures, joint ventures with institutional investors, and evolving co-investment arrangements. The regulatory landscape continues to shift with proposed SEC rulemakings that could expand retail access to private markets
United States Finance
MB
Mayer Brown
Article
SEC Calls For Rigor In Private Credit Valuation Practices, Disclosures
The SEC's Office of the Chief Accountant and Division of Investment Management have issued guidance emphasizing rigorous valuation processes for private credit assets, particularly addressing fair value measurement challenges for illiquid instruments. This statement underscores the agency's heightened scrutiny of private fund managers' valuation practices, calling for enhanced documentation, robust calibration methods, and transparent investor disclosures that go beyond boilerplate language.
United States Finance
SR
McDermott Will & Schulte
Article
ILPA’s Reporting Templates After PFAR: What Fund Sponsors Should Know
The Institutional Limited Partners Association has launched and updated four principal reporting templates following the Fifth Circuit's vacation of the SEC's Private Fund Adviser Rules, reimposing transparency and comparability objectives through contractual frameworks. These templates standardize fund economics, performance metrics, capital activity and portfolio company reporting, creating new compliance considerations for fund sponsors navigating investor reporting obligations.
United States Finance
PR
Proskauer Rose LLP
Article
Payment-In-Kind Interest In Fund Finance Transactions
Payment-in-kind (PIK) interest allows fund borrowers to defer cash interest payments by converting them into additional principal obligations, offering a powerful liquidity management tool for private equity and real estate investment funds. This analysis examines the strategic considerations, tax implications, and regulatory guardrails that both borrowers and lenders must evaluate when implementing PIK interest provisions in subscription and NAV facilities. From leverage covenant compliance to interest rat
United States Finance
MB
Mayer Brown
Article
Building A Defensible Process: GP-Led Continuation Fund Transactions In 2026
General partners executing continuation vehicle transactions in 2026 navigate a complex landscape shaped by regulatory uncertainty following the Fifth Circuit's vacatur of the Private Fund Advisers Rule, ILPA's increasingly prescriptive governance framework, and emerging private litigation risk. How can GPs build defensible process architecture that balances fiduciary obligations, institutional investor expectations, and commercial realities while minimizing post-closing exposure?
United States Finance
MB
Mayer Brown
Article
Financial Markets And Funds Quick Take | Issue 52
Katten's Financial Markets and Funds Quick Take delivers a comprehensive monthly roundup of critical regulatory developments, enforcement actions, and policy shifts affecting financial markets and funds. From SEC proposals on electronic delivery to FINRA's enforcement program overhaul and the UK's landmark cryptoasset regulatory regime, this edition examines the evolving landscape shaping broker-dealers, investment managers, and market participants. The newsletter also features insights on prediction market
Global Finance
KM
Katten Muchin Rosenman LLP
Article
CFO Market Update 2026: The Room Where It Happens OnPoint Mon Jul 27 2026 Collateralized Fund Obligations (“CFOs”) are clearly having a moment. Or, to borrow from Hamilton: “It’s not a moment, it's a movement.”
Collateralized Fund Obligations (CFOs) have evolved from a niche structured finance product into a rapidly growing capital markets instrument, with annual issuance projected to reach $30 billion in 2026. This comprehensive analysis examines the structural mechanics, regulatory framework, and emerging trends driving CFO adoption among asset managers and institutional investors seeking rated exposure to diversified private fund portfolios.
United States Finance
D
Dechert
Article
Venture Capital Litigation In The Unicorn Era: What VCs Need To Know
Recent research reveals that approximately 25% of active venture capital funds faced litigation between 2014-2025, challenging the industry's self-perception as non-litigious. As startups remain private longer and raise unprecedented capital, VCs find themselves increasingly named as defendants due to their governance involvement and status as solvent parties when portfolio companies fail. What does this emerging litigation landscape mean for how venture investors approach board participation, operational i
United States Commercial
OG
Outside GC
Article
Valuation Reports And Fairness Opinions In Fund Finance: Purpose, Application, And Key Considerations
Valuations and fairness opinions have become essential tools in fund finance transactions as deals grow more complex. This analysis explores how these independent third-party assessments help fund sponsors, limited partners, and lenders navigate conflicts of interest, satisfy fiduciary duties, and establish transparent pricing in continuation vehicles, NAV lending, and affiliated asset transfers.
United States Finance
MB
Mayer Brown
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