This content was published prior to the merger of equals between BKD and DHG on June 1, 2022. See all FORsights for the most up-to-date articles, webinars, and videos.
SEC Updates Fund of Funds Regulations
On October 7, 2020, the SEC approved a new Rule, 12d1-4, establishing a more comprehensive regulatory framework for fund of funds arrangements, which are funds that invest in other funds. This article provides details on the framework, which focuses on control and voting limits, required findings, an investment agreement, and limits on complex structures.