On April 18, 2019, the Financial Crimes Enforcement Network of the U.S. Department of the Treasury announced the assessment of a civil money penalty against Eric Powers for willfully violating the registration, program and reporting requirements of the Bank Secrecy Act and its implementing regulations. Between December 2012 and September 2014, Mr. Powers acted as
Stephanie R. Breslow
SEC Publishes First-Ever No-Action Letter for a Cryptocurrency Enterprise and a Framework for when a Cryptocurrency Is a Security
On April 3, 2019, the U.S. Securities and Exchange Commission published a framework aimed at assisting in determining whether a digital asset is a security. Alongside the Framework, the SEC also published a no-action letter for TurnKey Jet, Inc., the first ever no-action letter for a digital asset enterprise.
This is an important development for…
Recent Trends in Alternative Funds
The past year has been mixed for alternative funds. In the hedge fund space, industry assets under management increased by $70 billion to $3.22 trillion, despite lackluster overall returns and noisy withdrawals by certain institutional investors. In the private equity space, industry assets under management grew 4.2 percent to $2.49 trillion, and 8,975 new funds…
Schulte Investment Management Partners Discuss Fund Agreements Between LPs and GPs with Private Funds Management
In a recent interview with Private Funds Management, partners Stephanie Breslow, Omoz Osayimwese, Phyllis Schwartz and Joseph Smith discuss fund agreements between LPs and GPs, which are under constant scrutiny. The partners discuss recent changes, co-investment rights and key terms that are crucial in the current market.
Click here to read the interview.
Succession Planning with SRZ’s Leading Fund Formation Group
Hedge fund managers are thinking about succession planning earlier on than they used to, and they want to have clear plans in place as part of the drive to become more institutionally palatable — and sometimes to help facilitate strategic deals.
Click here to read this article, in which The Hedge Fund Journal talks to…
Succession Planning with SRZ’s Leading Fund Formation Group
Hedge fund managers are thinking about succession planning earlier on than they used to, and they want to have clear plans in place as part of the drive to become more institutionally palatable — and sometimes to help facilitate strategic deals.
Click here to read this article, in which The Hedge Fund Journal talks to…
Co-Investments with SRZ’s Leading Fund Formation Group
A variety of hedge fund strategies invite investors to participate in co-investments, which are becoming popular partly by default because side pockets are less acceptable.
Click here to read this article, in which The Hedge Fund Journal talks to SRZ partners Stephanie R. Breslow, David J. Efron, Steven J. Fredman, Daniel F.