Doug Cornelius on compliance for private equity real estate
The Institutional Limited Partners Association and 35 of its member institutions sent a letter to the Securities and Exchange Commission pushing for stronger regulations on private equity advisory firms. ILPA is asking the SEC to make 7 changes. Rescind the Heitman Capital Management No-Action Letter, issued in 2007. SEC enforcement settlements with private fund advisers … Read more »
A recent case decided some issues relating to the indemnification of private equity and venture capital professionals by their affiliated funds in connection with their service as directors and officers of their portfolio companies. Stockman v. Heartland Industrial Partners, L.P., (July 14, 2009), Delaware Chancery Court. David A. Stockman and J. Michael Stepp were investment … Read more »