4. Compliance and Regulatory Issues for Illiquid Strategies (Intermediate)

Funds investing in illiquid assets (e.g., private equity, real estate, private credit) have proliferated in recent years, supplementing and in some cases competing with the traditional financing market. Illiquid funds raise unique compliance issues that differ from those affecting private funds investing in more liquid portfolio assets.

This panel will discuss current compliance, legal, and regulatory risks.

Learning objectives:

•       Understand contractual protections, collateral, redemption challenges, and the reinvestment of interest payments.

•       Consider key risks such as liquidity, interest rate, and valuation and discuss risk mitigation strategies.

•       Explore compliance and management approaches to due diligence, conflicts issues, and information barriers.

•       Evaluate the manager’s role in distressed situations including defaults and restructurings and the manager’s obligations to the fund.