FUNDamentals is a periodic digest of news and information specifically for investment funds and investment advisors. In this issue, we highlight some fundraising trends, new marketing rule FAQs, fund liquidity trends (limited partners (LPs) acting as lenders, secondaries and continuation funds), tax changes in the One Big Beautiful Bill Act, and new compliance rules for the new year.

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We offer full-service counsel to private equity, venture, real estate, hedge, and registered investment funds; investment companies; small business investment companies (SBICs); and investment managers and their respective sponsors, managers, advisors, and investors on transactional and legal regulatory issues in the United States and internationally. Our team advises clients in major jurisdictions throughout the United States, Canada, Europe, and Asia.

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