The SEC recently issued the first simplified co-investment relief, representing the most significant update to these exemptive orders in nearly a decade. Prior to this relief, the SEC required registered closed-end funds and business development companies regulated under the Investment Company Act of 1940 to comply with complicated exemptive orders to co-invest alongside affiliates in negotiated private placement transactions. The simplified relief eases some of the most onerous requirements of the previous orders and signals a renewed focus from the SEC and its staff on facilitating capital formation while maintaining investor protections. In this webinar, Dechert partners Bill Bielefeld, Paul Stevens and Nadeea Zakaria will provide an overview of the relief, review key changes from prior orders, and walk through important considerations for managers planning to implement the new relief.
For questions, please contact emily.harrington@dechert.com.