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Gregg Gethard

As is usually the case, increased rules mean higher compliance costs for those advisers who fall under regulation. For the biggest firms in the industry, those costs can be handled, but for smaller shops, and especially emerging managers, those costs could prove harmful.
ESG considerations and diversity among management teams rank low as a priority when sourcing managers, according to a new survey conducted by law firm Seward & Kissel.
Massachusetts Pension Reserves Investment Management Board, which recently backed two new funds from Union Square Ventures, is looking to give chief investment officer Michael Trotsky more flexibility on VC fund investments.
Insurers and other industry insiders say the SEC’s proposed indemnification rule, combined with other potential regulations outlined in the agency’s February announcement, will impact this corner of the industry.
Ventura County Employees Retirement Association, which has backed seven VC funds in the past two years, has raise its target allocation to private markets by 2 percent.
“The rules regarding special treatment for some LPs over others could be more eloquently crafted and should rely more on disclosure than prohibition,” says Maryland State Retirement and Pension System CIO Andrew Palmer.
Elimination of preferred treatment could even the playing field but have other consequences.
Optimism on PE reigns after successful 2021, but several factors could soften valuations.
Iconiq Capital, whose clients include tech billionaires such as Mark Zuckerberg, is seeking to raise $5.75 billion for growth investments in enterprise software, fintech and consumer tech.

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