Doing Business With Sovereign Wealth Funds

Law360, New York (July 8, 2011, 2:32 PM EDT) -- It may have come as a surprise to some people in the private equity community to learn that the Boston Office of the U.S. Securities and Exchange Commission had launched an investigation into possible violations of the Foreign Corrupt Practices Act by financial institutions, including private equity firms, that have sought investments from or partnerships with sovereign wealth funds (“SWFs”). Subsequent reports make clear that the SEC’s investigation also includes a review of relationships with state-owned pension funds.

Public reports describe the investigation as being in...
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