Permanent capital vehicles are growing increasingly popular as a means of providing long-term exposure to illiquid assets such as private equity and private credit assets. Recent and anticipated regulatory reforms and evolving market trends have the potential to expand access to private markets and alternative assets, particularly for retail investors who previously were foreclosed from
The SEC Spoke: Private Fund Changes Coming
At today’s Practising Law Institute’s SEC Speaks program, Securities and Exchange Commission (“SEC”) Chair Paul Atkins shared his views on a wide range of topics. Chair Atkins touched on innovation at the SEC, FinHub and its role and, of course, crypto and the crypto markets.
Chair Atkins also spoke about financial innovation and specifically closed-end
A Discussion on Private Markets & Private Credit with Carta & Mayer Brown
June 17, 2025
Mayer Brown LLP, 14th Floor, 1221 Avenue of the Americas, New York, NY 10020
Register here.
Join Carta and Mayer Brown for a discussion about the evolving landscape of private markets and the implications for retail access and regulatory reform.
Agenda
5:00 p.m. – 5:15 p.m.
Registration
5:15 p.m. –
Interval and Tender Offer Funds Expected to Benefit from Private Credit Expansion
An important trend discussed at the 2025 Milken Institute Global Conference was the integration of private credit into retail investor portfolios. Assuming certain regulatory challenges can be overcome, this development would expand offering opportunities for retail investors. Speakers highlighted the rapid expansion of the private credit market, which is projected to grow to $2.3 trillion
Growth of Permanent Capital Vehicles Expected to Accelerate
In recent years, private non-bank lending to private equity-owned, small- and middle-market companies has increased significantly. According to a report from the Loan Syndications and Trading Association (LSTA) detailing data from a recent survey, the U.S. private corporate credit market now exceeds $1.5 trillion and is expected to continue to grow while incurring modest amounts
House Financial Services Committee Urges SEC Withdrawal of 14 Proposed and Final Rules
On March 31, 2025, the U.S. House Financial Services Committee (Committee) penned a letter to acting Securities and Exchange Commission (SEC) Chair Mark Uyeda identifying 14 proposed and final rules that, according to the Committee, should be withdrawn in their entirety. All of the cited rules were proposed or implemented under prior SEC Chair Gary
The Rules of the Name: SEC Staff Updates Guidance on Fund Naming Rules
The Securities and Exchange Commission (SEC) staff issued updated FAQs regarding Rule 35d-1 under the Investment Company Act of 1940 (the “Names Rule”) on January 8, 2025. These updates reflect amendments that were adopted in 2023 and replace certain earlier guidance from 2001. The Names Rule requires investment funds to ensure their fund names accurately
Upcoming SEC Small Business Advisory Committee Meeting
The Securities and Exchange Commission recently announced that its Small Business Capital Formation Advisory Committee will be meeting later this week on November 13th in an open meeting. The meeting includes a discussion of how venture capital fund managers are raising capital. The Committee will hear from an academic on venture capital fund manager use
SEC Abandons Review of Vacated Private Fund Adviser Rules
The Securities and Exchange Commission let pass the deadline to seek a review of the decision by the US Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) to vacate the SEC’s final rule relating to private fund advisers (the “Final Rule”). The SEC adopted the Final Rule on August 23, 2023. The Final
Qualifying Venture Capital Funds Inflation Adjustment
The Securities and Exchange Commission adopted Rule 3c-7, which adjusts for inflation the dollar threshold used in defining a “qualifying venture capital fund” under the Investment Company Act, as required pursuant to Section 504 of the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 (“EGRRCPA”). The final rule allows the SEC to adjust