Eliza Fromberg was quoted in an article, "FINRA's Capital Acquisition Broker Rules Face Tough Sell," in Law360. The article examines the newly approved Financial Industry Regulatory Authority rules, which permit broker-dealers who engage in certain limited capital-raising activities to opt to be governed by lighter regulatory requirements. Brokers governed by the new rules are prohibited from soliciting so-called accredited investors, who represent a large constituency of private investors. "Had the rules been tweaked a bit to change the definition of institutional investor to include accredited investors, not only qualified purchasers, then I think this would potentially be attractive to a much larger number of broker-dealers," Fromberg said.
In October 2023, Day Pitney represented a state pension system client in connection with a $200 million investment in a $20 billion private equity fund, and its accompanying co-investment vehicle, focused on acquiring, operating and disposing of financing, software, data and technology-enabled businesses.
Day Pitney Alert
Day Pitney Press Release
In May 2023, Day Pitney represented a state pension fund in connection with a $1 billion investment in an open-ended "fund of one" formed by an asset management company focused on acquiring below investment-grade broadly syndicated loans through an intermediate bankruptcy remote holding company.
Day Pitney's annual Palm Beach Family Office Forum was featured in The Florida Bar News article, "Day Pitney Hosts 2023 Palm Beach Family Office Forum."
In February 2023, Day Pitney represented a Singapore-based investment management firm in connection with the formation of an ERISA “hardwired” master-feeder fund structure focused on investing primarily in the Australian resources sector using a long/short investment approach.
In April 2022, Day Pitney represented a Singapore-based investment management firm in connection with the formation of an ERISA "hardwired" master-feeder fund structure focused on investing primarily in Asian healthcare companies.
In December 2022, Day Pitney represented Iridian Asset Management LLC, a Connecticut-based investment management firm in connection with the formation of Iridian Global Impact Fund LP, a long-only private fund which invests primarily in impact-oriented public companies consistent with the European Union’s SFDR Article 9 guidelines.
In December 2022, Day Pitney represented a state pension fund in connection with a $500 million investment in a closed-end "fund of one" formed by an asset management company focused on direct private credit opportunities in the form of senior, mezzanine and opportunistic loans to lower middle market companies.
Day Pitney Investment Management Partner Eliza Fromberg was featured in the Bloomberg Law article, "FTX-Gisele Partnership Highlights Risks of Celebrity ESG Roles."
Copyright © 2023 Day Pitney LLP, all rights reserved.