Real Estate Fund Documentation and Operations May Be Impacted By SEC Risk Alert
November 20, 2020
On June 23, 2020, the US Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations issued a Risk Alert, identifying a series of deficiencies it regularly encountered in recent examinations of private fund advisers, including real estate fund managers.
This article focuses on two conflict of interest items highlighted in the Risk Alert that may have a notable impact on real estate fund documentation and operations going forward, particularly in light of the COVID-19 pandemic: (1) multiple clients investing in the same asset and (2) allocation of co-investments.
U.K. Supreme Court Considers the Correct Approach to the Three-Stage Test for the Application of the Illegality Defence Set Out in ‘Patel v Mirza’
November 17, 2020