On November 14, Peter Bilfield, co-chair of Day Pitney's Investment Management and Private Funds group, was quoted in an article, "SkyBridge Jumps into Hot Opportunity Zone Space," published by FundFire, a Financial Times news service for professionals working in the high net worth and institutional investment management industry. The article discusses qualified opportunity zones, a new tax incentive introduced by the Tax Cuts and Jobs Act, and references recent fund launches by SkyBridge Capital and EFJ Capital.As Bilfield told FundFire, many managers are still seeking clarity and submitting comment letters regarding various aspects of the opportunity zones. "I think the number one issue on our minds is this issue of recycling capital – and whether or not investing the proceeds of one disposition into another qualified opportunity zone property will [let you] defer the gain on that investment. That's a critical point that needs to be clarified by the IRS," he said. However, he noted that despite the needed clarifications, there are players waiting on the sidelines. "I would suspect we will see a number of launches."
On November 5, Peter Bilfield and Aaron Kriss will be participating in a panel, entitled "Qualified Opportunity Zones: What Every Investor Needs to Know Before Investing," at the 2018 Family Office Association NYC Summit, which is held exclusively for families and single family offices.
Day Pitney Advisory
Day Pitney Advisory
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Greg Kahn participated in the third edition of the “Maitland Roundtable,” a panel discussion held in April and presented by Maitland Group, a global fund administration and advisory firm.
Day Pitney's Family Office and Trusts and Estates practices have been shortlisted in two categories, "Best Private Client Law Firm" and "Best Trusts and Estates Division," for the 2019 Private Asset Management Awards.
Day Pitney's Family Office and Trusts and Estates practices have been shortlisted in the "Legal Team of the Year" private client category for the 2019 Family Wealth Report Awards.
Day Pitney Press Release
On October 26, Day Pitney LLP hosted a program on entrepreneurship and innovation with the Consulate General of Israel to New England and the New England Israel Business Council at the firm's Boston office.