Institutional LPs’ Growing Concerns Over Retailization of the Private Funds Industry (Part One of Three)

Cleary Gottlieb partner John Mahon was featured in the article, “Institutional LPs’ Growing Concerns Over Retailization of the Private Funds Industry (Part One of Three),” published by Private Equity Law Report.

John spoke on the potentially disruptive effects of retail investors entering into a market that has long catered to institutional investors. He also touched on how the Investment Company Act of 1940 restricts registered fund products in ways that impact both retail and institutional investors, particularly regarding side letters and fee structures, and how institutional investors’ expectations for negotiated terms may not be compatible with products designed for a broader investor base.

Read the article (subscription required).