JOBS Act Lifts the General Solicitation Prohibition and Increases the Record Holder Threshold for Private Investment FundsLegal Update
Congress has recently approved, and President Obama is expected shortly to sign into law, the Jumpstart Our Business Startups Act (the “JOBS Act”). While the JOBS Act touches on many areas of capital formation that will likely be of interest to managers, sponsors, and marketers of private investment funds, two changes are particularly relevant to participants in this sector:
Partners Bertrand Fry and Jonathan Shepard, Co-Chairs of Pryor Cashman’s Investment Management Group, together with associate Jill Braibanti, have written a Legal Update giving an overview of these aspects of the JOBS Act and their anticipated impact on the marketing of private investment funds. To read the update, entitled JOBS Act Lifts the General Solicitation Prohibition and Increases the Record Holder Threshold for Private Investment Funds, please click here.