Eliza Fromberg was quoted in an article, "House Bills Could Make IPOs And Private Offerings Easier," published in Law360. The article discusses two bills recently passed by the U.S. House of Representatives which aim to make initial public offerings easier, while also expanding the population eligible to invest in pre-IPO companies. Fromberg spoke with Law360 about one of those bills, the Fair Investment Opportunity Act. The bill would enable more people to invest in private placements under the SEC's Regulation D exemption by widening the criteria for defining an accredited investor to include licensed and registered brokers, as well as individuals with professional knowledge related to a particular investment. Fromberg told Law360 that including investment professionals as accredited investors makes sense. But she added that deciding whether someone has "professional knowledge" in order to invest in private securities would be more subjective. "I think the 'professional knowledge' prong will be difficult to implement, since it requires correlating a person's experience to a particular investment, which requires a case-by-case determination," Fromberg told Law360. "This type of verification is time-consuming, and FINRA is not well suited to conduct this review."
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.
Day Pitney Partners Gretchen Blauvelt-Marquez, Michael Fitzpatrick, James Leva, Nicole Magdiziak and Thomas O'Mullane's promotion to partnership and Partner Todd Terhune's arrival to the firm were featured in the New Jersey Law Journal's New Partners Yearbook 2023.
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 Press Release
Day Pitney's election of 11 new partners was featured in Law360 Pulse article, "Day Pitney Elevates 11 To Partner."
Day Pitney Real Estate and Land Use Partner Nicole Magdziak's promotion to partner was featured in Real Estate NJ's article, "Day Pitney Real Estate, Land Use Lawyer in New Jersey Named Partner."
Day Pitney Press Release