Accredited investor definition update: dividing opinion

Context around yesterday's decision to update the law on who can invest in private funds.

The door to private capital investment just opened a bit wider. Family offices (and family clients) with at least $5 million in assets under management, financial professionals who have Series 7, 65 or 82 licenses and “knowledgeable employees” of private funds can all participate. Not everyone is ecstatic, reports Bill Myers.

If you want to read the new rule in full: here it is.

Also: how has the pandemic played out for a major fund domicile? Connor Hussey asked ALFI chairperson Corinne Lamesch: “We haven’t seen a real run on funds as we might have seen in 2007 or 2008.” Read more.