R. Scott Beach, chair of Day Pitney’s Corporate and Business Law Department and head of its Family Office Practice, was quoted in an article, “Carlyle’s David Rubenstein Builds Family Office With Outside Ambitions,” published by Bloomberg News. The article discusses Carlyle Group LP co-founder David Rubenstein’s recently announced family office, “Declaration Capital” and its affiliate, “Declaration Partners,” which is reported to target venture, growth and family-owned businesses. As noted in the article, family offices can present challenges for private equity principals and other investment professionals. Beach told Bloomberg News that fund principals launching family offices “need to be sensitive to potential conflicts of interest” that can arise when their family offices engage in direct investing. He commented further, “They should invest in strategies, assets or sectors that they don’t follow in their funds” to mitigate the risk of conflicts and avoid running afoul of their fund’s compliance policies.
The article also appears on WealthManagement.com, the Financial Advisor magazine website, and Deal Street Asia.
Day Pitney Alert
Day Pitney Multistate Tax Practice Chair Scott Clark authored the article, "Changing Domicile For Tax Purposes Is Beneficial If Done Correctly," for Family Wealth Report.
Day Pitney's annual Palm Beach Family Office Forum at the Eau Paul Beach Resort & Spa was featured in Palm Beach County Business Magazine.
Day Pitney's Family Office practice chair R. Scott Beach and co-chair of the firm's Data Privacy, Protection and Litigation group William Roberts were featured in Acclaim Magazine article, "Day Pitney's Sophisticated Cybersecurity Services for Family Offices," discussing the cybersecurity services the firm offers to its family office clients.
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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.
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