• Private Fund Manager Developments
  • July 25, 2011 | Authors: Andrew E. Goldstein; Jonathan E. Silverblatt
  • Law Firm: Phillips Nizer LLP - New York Office
  • As part of the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“The Dodd-Frank Act”), advisers whose activities are limited to the management of unregistered investment funds (including private equity funds) with assets under management of less than $150, 000, 000 and/or venture capital funds are exempt from registration as investment advisers with the Securities and Exchange Commission (the “SEC”). Recently, the SEC has taken the following steps which affect managers of such private investment funds: