Building a Strong Compliance Foundation: Considerations for Real Estate Fund Advisers

Building a Strong Compliance Foundation: Considerations for Real Estate Fund Advisers

Investing in real estate has its own challenges and nuances. Among those is a decision many real estate fund managers grapple with – whether to register with the SEC. The decision may be driven by investors or by a need to align a real estate fund with strong governance practices that comport with regulatory requirements. Yet real estate funds are unique in the application of a regulatory regime designed for private funds.

CSS partnered with DLA Piper’s Greg Hayes to discuss:

• Forming and structuring a real estate fund: Are they securities or not? The use of holding companies, joint ventures, GP and LP structures, management companies, and more
• Weighing the pros and cons of SEC registration: Asset thresholds, exemptions, and marketing considerations
• Compliance 101 for newly registered real estate fund advisers: what are the essential components of a compliance program, policies, and procedures
• OCIE Risk Alerts on private fund hot button issues: Valuation, Fees and Expenses, Allocation, and Conflicts of Interest

Speakers include:

• John J. Gentile, Director of Private Fund Manager Services and Director of Broker-Dealer Services at CSS
• Greg Hayes, Partner at DLA Piper
• E.J. Yerzak, Director of Cyber IT Services at CSS