PE Firms, Get Ready For Your 'Presence' Exams

Law360, New York (June 21, 2013, 10:37 AM EDT) -- Until recently, the likelihood that an investment adviser to a private equity fund would face an examination by the U.S. Securities and Exchange Commission was low. The situation today is dramatically different. We anticipate that most advisers to private equity funds (as well as hedge funds and other private funds) will be examined by the SEC over the next two years.

While the precise consequences of these examinations have yet to be established, the consequences, both legal and reputational, of an SEC examination that uncovers material...
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