Considerations For Private Funds After Lift Of Ad Ban

Law360, New York (July 11, 2013, 4:15 PM EDT) -- At an open meeting held on July 10, 2013, the U.S. Securities and Exchange Commission voted to adopt a previously proposed rule that will lift the ban on general solicitation in certain types of private securities offerings, including many offerings of interests in venture capital, private equity, real estate, hedge and other types of private investment funds.

For many private fund managers, the new rule will substantially increase the scope of permitted fundraising activities. Even for those fund managers that do not intend to conduct a...
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