Registration & SEC
Oversight Coming for
Private Equity Firms

November 1 Update: PE Registration & Oversight going to House Vote.

October 27
Manager's Amendment

Proposed Regulation
(10/1/09 original draft):
Private Fund Investment
Advisers Registration Act
of 2009


SEC Chair
Mary Schapiro's recent
remarks on the Future of
Financial Regulation 

June 2009 Treasury Report
Financial Regulatory
Reform - 
A New Foundation:
Rebuilding Financial
Supervision & Regulation


November 1st Update
Mangers Amendment of Chairmen Barney Frank & Paul Kanjorski Approved / H.R. 3818 sent to House
 
Senate Chair Frank


House Chair Kanjorski

The House Financial Services Committee passed H.R. 3818, the Private Fund Investment Advisers Registration Act on October 27. A 67 - 1 vote demonstrated bipartisan support for H.R. 3818 for registration of private funds and SEC oversight of those funds. We have been talking about this in October meetings, at the Capital Connection and online (this website and twitter) for the last month. It looks like the cleaned up Act will be voted on by the House this week. There was a voice vote acceptance of an exemption of managers where each fund is under $150M in assets under management. Two issues with this include no definition of assets under management (measure, how frequent, committed or invested, etc) and exempted advisers will still need to maintain some records and annual or other reports as the SEC sees fit. Otherwise the manager's amendment to this bill left the initial draft substantially intact with adjustments for extended rulemaking and transition, clarification of duty to the funds versus individuals, exemption of the SBICs (already registered with SBA), and inflation adjustments for income and asset tests. Other amendments such as extending the exemption to funds under $500M were not approved nor included in the marked up bill. We will update this site as new developments occur in Congress.

 

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ACG Chicago Wins Annual Award for Business Excellence 2009

ACG Chicago was named the winner of the Annual Award for Business Excellence in the Professional Society category for 2009. The chapter is proud to accept this honor in addition to the Outstanding Large Chapter of the Year award presented in 2008 and the Outstanding Programming Award from 2007.

Click here to view the full article

Diversity (April 2) - CFO Magazine website (CFO.com) notes recent study showing female CFOs generate higher stock prices from acquisitions and secondary equity offerings.

Cleantech (April 3) - Cleantech Energy Trends 2009 from Clean Edge cites the most recent investment data to show investments in this market went from $600 million or  0.6% of total VC investments in 2000 to almost $3.4 billion or 12% in 2008. Perhaps because cleantech revenue was recorded at $115 billion in 2008 and is projected to grow to over $325 billion per year in 10 years.

Network News Online - April 10, 2009 - 45 weeks ago
Investment Climate of Turkey in the Aftermath of the Global Economic Downturn - 11 weeks ago
America for Sale - 9 weeks ago
Directors' Liability in Distressed Situations  - 8 weeks ago
Network News Online - January 2010 - 8 weeks ago

Alternative Assets: How Should Their Performance be Benchmarked?
Tuesday, September 15, 2009
Time: 11:30 AM - 1:15 PM

M&A / PE Network Luncheon - Alternative Assets: How Should Their Performance be Benchmarked?

Click here to see the full event details

Corporate Author Series: In Search of the Midas Touch
Friday, December 04, 2009
Time: 7:30 AM - 9:15 AM

Corporate Author Series: Rob Slee’s first book, Private Capital Markets, is now considered the seminal work in finance for private companies. Rob’s second book, Midas Managers, was released in 2007 and describes how super-successful private business owners create substantial wealth in a global economy. Rob’s current book, Midas Marketing: How Midas Managers Make Markets, was released in March, 2009.

Click here to see the full event details

The Move Toward Solid State Lighting
Presentation slides
Bruce Pelton, Director of Engineering, California Lighting Technology Center

The Perfect Storm, a Disruptive Technology
Presentation slides
Charles C. Berghoff, President & CEO, OptoElectronix, Inc.

Enabling Adoption, Downstream LED Opportunities and Challenges
Moderator
Robert S. Winner, Partner, Ungaretti & Harris LLP
Panelists
Mike Bauer, President & CEO, Nexxus Lighting Inc.
Sean E. Callahan, President & CEO, iLight Technologies, Inc.
Daniel Chevalier, President, Dellux Technologies
Jeffrey M. Quinlan, Director Innovation, Acuity Brands Lighting
David Tahmassebi, CEO, LedEngin, Inc.
Barry J. Weinbaum, CEO, Renaissance Lighting

The Market Outlook for High Brightness LEDs & Solid State Lighting
Robert V. Steele, Director, Optoelectronics, Strategies Unlimited

Advances in LED Technology
Moderator
James J. Greenberger, Partner, ReedSmith LLP
Panelists
Jim Balthazar, President & CEO, Nuventix, Inc.
Peter L. Larsson, President & CEO, Intematrix
Mike Miskin, CEO, Lynk Labs Inc.
Carl Scianna, President & CEO, PolyBrite International
Mark C. Swoboda, CEO, Bridgelux Inc.

Investment and Consolidation in Advanced Lighting
Moderator
Shez K. Bandukwala, Partner, ThinkEquity, LLC
Panelists
Scott Alberts, Venture Partner, DCM
Annette Finsterbusch, Director, Applied Ventures
Barbara D. Grant, Managing Director, American River Ventures
Marc van den Berg, Managing Director, VantagePoint Venture Partners
Robert C. Walker, Principal, Sierra Ventures

Network News Online - April 10, 2009 - 45 weeks ago
Investment Climate of Turkey in the Aftermath of the Global Economic Downturn - 11 weeks ago
America for Sale - 9 weeks ago
Directors' Liability in Distressed Situations  - 8 weeks ago
Network News Online - January 2010 - 8 weeks ago