Jason M. Daniel (Dallas), Garrett A. DeVries (Dallas) and Rosa A. Testani (New York), Partners at Akin Gump
Originally published in the August | September 2020 issue
Amendments to the “accredited investor” definition expand the categories of persons eligible to participate in private placements under Regulation D to include (i) individuals with certain professional licenses (Series 7, 65 and 82), (ii) any entity with more than $5 million in investments, (iii) knowledgeable employees of a fund in which the employee is investing and (iv) family offices and their clients.
The amendments also expand the types of entities eligible for Rule 144A offerings and make conforming changes to other rules.
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Commentary
Issue 150
The New Alts Manager
How to expand an alts strategy the right way for the right reasons
Peter Sanchez, Head of Alternative Fund and Omnium Business Services, Northern Trust