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Dechert On RegDechert On RegCountry Edition: Exploring the UAE’s Key Economic Indicators and OpportunitiesIn the latest Country Edition of Dechert On Reg, host Angelo Lercara is joined by partners Amanjit Fagura and Colin Sharpsmith from Dechert’s Dubai office to discuss critical insights for asset managers looking to raise capital in the United Arab Emirates (UAE). Fagura and Sharpsmith provide a comprehensive overview of the UAE's regulatory landscape, investment patterns and fund structures, offering valuable guidance on navigating the complexities of raising capital in the Emirates. The episode also explores key investor groups, tax considerations, current market trends and recent regulatory changes that asset managers need to be aware of....2025-05-0936 minOral Arguments for the Court of Appeals for the Second CircuitOral Arguments for the Court of Appeals for the Second CircuitEl Omari v. Dechert LLPEl Omari v. Dechert LLP2025-05-0130 minDechert 4 RealDechert 4 RealCMBS Servicing Sitdown With Trimont’s Cindy Barreda and Leslie HaytonRecording for the first time in Dechert’s Charlotte office, 4 Real’s Jon Gaynor, Sam Gilbert and Ella Smith invite Trimont Chief of Staff Cindy Barreda and Senior Managing Director Leslie Hayton to the pod to discuss Trimont’s recent acquisition of the Wells Fargo third-party commercial mortgage servicing platform, CRE trends to watch in the current and future economic landscapes and how they’re using AI to streamline their workflows. Plus, London-based Dechert partners John McGrath and Aaron Scott give the 411 on changes to the European risk retention rules, the group has some surprising brushes with fame and Sam hits...2025-04-2441 minDechert On RegDechert On RegKey Regulatory Insights From Funds Congress 2025 What is currently top of mind for regulators in the ever-changing financial services landscape? In this episode of Dechert On Reg, host Angelo Lercara invites fellow partners Katie Carter and Marianna Tothova to discuss hot topics from the “Regulatory Horizon: Key Themes for 2025” panel at this year’s Funds Congress in London. Featuring representatives from the FCA, CBI, ESMA and CSSF, the panel highlighted regulators’ innovative use of AI to parse massive amounts of data, how these authorities are cutting through “the noise” to focus on maintaining stability and protecting investors, thoughts on the retailization of private markets in Europe and mu...2025-04-0728 minDechert 4 RealDechert 4 RealSpringing Into Real Estate Debt Funds, EDGAR Next, Corporate Transparency Act Updates and Surprising SportsSpring is in the air as Dechert 4 Real’s Jon Gaynor, Ella Smith and Sam Gilbert take a fresh look at the world of real estate debt funds with Dechert financial services partner Gerry Brown, discussing market trends, the benefits of evergreen funds vs. closed-end funds, how tokenization will impact this space and much more. Plus, CMBS associate Parker Lacoste joins the show with updates on the SEC’s EDGAR Next program and the Corporate Transparency Act, while Ella invents an all-new sport: “gobf.” Show Notes: EDGAR Next: What Filers Need to Know and How Th...2025-03-2739 minCommitted CapitalCommitted Capital2025 Global Private Equity Outlook: Key Legal Developments and Trends to WatchDespite a year of geopolitical volatility and economic uncertainty, private equity demonstrated its resilience in 2024. With challenges still ahead, how are PE managers setting themselves up for success in the coming year? In this special episode, Dechert partners Sarah Kupferman, Rani Habash, Eliot Relles and Sam Whittaker share their perspectives and insights on key findings from Dechert’s 2025 Global Private Equity Outlook report, including the increased appetite for co-investments and club deals, the impact of regulatory changes and private credit’s growing role in bridging funding gaps. Show Notes 2025 Global Private Equity Outlook 2025-03-1822 minCommitted CapitalCommitted CapitalSidecar: A New Dawn for HSR – What the FTC’s New Premerger Notification Requirements Mean for Private EquityThe FTC’s recent overhaul of its premerger notification requirements has culminated in a completely new HSR form, which recently became effective and now obligates parties to reportable transactions to disclose substantially more information to the antitrust agencies up front.  What impact will these new requirements have on private equity firms now that they are in effect? In this Sidecar episode, Dechert antitrust partner James Fishkin and counsel Beverly Ang highlight a few key changes in the new rules and how PE firms should adjust in order to ensure compliance with the new regime.Show Notes 2025-02-1910 minDechert 4 RealDechert 4 RealTop Five CREFC Takeaways and a “Bullishly Measured” 2025 OutlookListen to the top five biggest takeaways from the CREFC annual conference in Miami on our first episode of 2025 with Dechert 4 Real Podcast co-host Jon Gaynor and producers Matt Armstrong, Kate Mylod and Stewart McQueen (who also co-chaired the conference). Get the inside scoop on the overall vibe, insights from keynote speaker Ron Howard, thoughts on increasing back-leverage options in commercial real estate finance and other trends to watch this year!Show NotesFull CREFC Miami 2025 Program2025-01-2835 minDechert On RegDechert On RegCountry Edition: A Focus on France’s Unique Regulatory LandscapeIn this episode Dechert On Reg, host Angelo Lercara kicks off the new Country Edition series: Together with his guests, he will focus on different jurisdictions and explore the unique regulatory landscape of the countries in discussion. This time it is all about France, one of the most robust economies in the world: What should asset managers—both domestic and international—be aware of when raising capital there? With partner Cyril Fiat from Dechert’s Paris office, Angelo discusses France's economic indicators, investment behaviors of French individuals and institutional investors and the role of regulatory bodies such as the Autori...2024-11-2737 minCommitted CapitalCommitted CapitalUnlocking Value: GP-Stake Sales and Seeding TransactionsPrivate equity firms are increasingly looking at strategic options both for their business and fundraising, including GP-stake sales and seeding transactions. What factors do GPs consider when evaluating these options? In this episode, Dechert’s Sam Kay leads a discussion with Rede Partners’ Magnus Goodlad and New Catalyst Strategic Partners’ Demetrius Sidberry on how the market is developing, how businesses are valued, the different methodologies and investment structures for either a GP-stake sale or a seeding arrangement, and more.2024-11-2622 minCommitted CapitalCommitted CapitalTaking Stock: Industry Leaders Discuss Private Equity’s Evolution and Future to Mark Dechert’s 40th Anniversary in PE2024 marks the 40th anniversary of Dechert’s global private equity practice. In this special episode, Blackstone’s Christopher James, KKR’s John Park, and AB Private Credit Investors’ Jay Ramakrishnan join Ken Young, co-chair of Dechert's corporate and securities practice and co-head of the global private equity group, to reflect on the evolution of the PE industry, from its humble beginnings to its current scale and complexity.  Among other topics, they discuss the diversification of investment strategies from pure buyout shops to massive alternative asset managers, the evolution and the role of p...2024-10-3034 minDechert 4 RealDechert 4 RealThe Download on Data Centers, U.S. Election Ripple Effects and Disney VacationsDechert 4 Real hosts Jon Gaynor, Ella Smith and Sam Gilbert sit down with Dechert finance & real estate partner Justin Gdula to discuss the latest trends in data center deals, real estate M&A activity and Canadian CMBS. Plus, Dechert partner Jay Southgate discusses the impact this November’s U.S. presidential election may have on commercial real estate finance, the hosts discuss their pleasant — and not-so-pleasant — experiences at “The Most Magical Place on Earth” and the podcast goes into dad joke overload.2024-10-2928 minCommitted CapitalCommitted CapitalSidecar: The New EU FSR’s Impact on Private Equity TransactionsThe new EU Foreign Subsidies Regulation (FSR) aims to address potential market distortions caused by subsidies from outside the EU, introducing new European Commission reporting obligations for private equity firms. In this Sidecar, Dechert partners Saira Henry, Michael Okkonen, and Clemens York discuss how private equity firms can adopt proactive strategies and thorough due diligence to effectively navigate the new regime. Show Notes “The Regulatory Gauntlet: Dealmakers Face Increased Scrutiny,” Dechert OnPoint (Nov. 5, 2023) 2024-09-2609 minDechert 4 RealDechert 4 RealHow Climate Change, AI and Office Challenges Are Impacting CMBS With Erin Stafford From Morningstar DBRS What is the current state of commercial mortgage-backed security, or CMBS? Dechert 4 Real hosts Jon Gaynor, Ella Smith and Sam Gilbert invite the managing director and head of North American CMBS ratings activity at Morningstar DBRS, Erin Stafford, to the podcast to break down the current headwinds and opportunities in the CMBS space, from climate change’s impact on CMBS ratings to the industry’s emerging interest in data centers. Plus, Sam gives the 411 on New York City’s Safe Hotels Act, Dechert’s John Ludwig-Egan highlights an upcoming re-proposal of the Basel III Endgame rules and the hosts...2024-09-2543 minDechert On RegDechert On RegUK EMIR Reporting Changes: Need to Know with a Month to GoChanges to the UK’s EMIR derivatives reporting regime take effect on Monday September 30, 2024.Dechert On Reg host Angelo Lercara is joined by Richard Chapman and Karen Stretch to discuss the changes, how they differ from those for EU EMIR that took effect earlier in 2024 and how in-scope firms can make sure they are prepared.Show Notes: EMIR Reporting: Changes Afoot - What You Need to Know – Dechert On Reg Episode 5 (Nov. 30, 2023)2024-08-3027 minDechert 4 RealDechert 4 RealNavigating NAV and National Security in Commercial Real Estate with Ani Ravi and Hrishi HariDechert global finance partner Ani Ravi joins Dechert 4 Real hosts Jon Gaynor, Ella Smith and Sam Gilbert for an informative discussion about the relationship between NAV facilities, subscription lines and repo financing, the evolving nature and implementation of NAV facilities, potential NAV pitfalls and the growing interest in this market segment. Plus, Dechert national security partner Hrishi Hari joins the podcast to discuss recent developments with respect to national security reviews of foreign ownership in real estate. The hosts also share their Labor Day weekend plans and much more! Show Notes Lawyer Up: 16 Bi...2024-08-2737 minCommitted CapitalCommitted CapitalSidecar: CFIUS, Springing Rights and the Equity StackDespite evaluating fewer transactions for potential national security risks, the Committee on Foreign Investment in the United States (CFIUS) is taking longer than ever to complete its reviews, significantly impacting deal closing timelines for PE transactions involving foreign investors. In this Sidecar episode, Dechert private equity partner Bernardo Piereck and national security partners Jeremy Zucker and Hrishikesh Hari discuss the current length of CFIUS reviews, insights into the Committee’s mitigation measures as detailed in its annual report to Congress, and steps that investors can take to structure their transactions with CFIUS considerations in mind.Show No...2024-08-2713 minDechert 4 RealDechert 4 RealForecasting Year-End Commercial Real Estate and Driving Forklifts Through the OfficeDechert 4 Real hosts Jon Gaynor, Ella Smith and Sam Gilbert are joined by Barclays Head of CMBS Research Lea Overby to discuss commercial real estate trends we can expect in the second half of 2024, floating rate debt risk, lessons learned from the “Mall Apocalypse” and why “forklift offices” are better than “cave offices.” Plus, Dechert’s Steve Engel shares his thoughts on the Supreme Court’s recent Loper Bright decision. Show Notes Supreme Court Ends Chevron Deference Among String of Decisions Limiting Agency Power – Dechert OnPoint (July 2024)THE CRED: Legal & Business Insights for the Pri...2024-07-1840 minDechert On RegDechert On RegUK Securitization Reform – What Fund Managers Need to KnowDechert On Reg host Angelo Lercara is joined by Dechert’s John McGrath, Richard Pugh and Aaron Scott for a deep dive on how the new UK securitization regulations – which go into effect November 1 – will affect fund managers and market participants, how the new UK rules compare with existing EU regulations, and what investors should be doing now to prepare for the changes. Show Notes:Countdown to Change: UK's New Securitisation Regime Effective from 1 November 2024 – Dechert OnPoint (May 2024) 2024-07-0329 minDechert 4 RealDechert 4 RealRolling into Summer with CREFC Roulette and the Biggest Takeaways from the June ConferenceDechert’s Jon Gaynor, Kate Mylod, Stewart McQueen and Matt Armstrong dive into the biggest conversations coming out of the 2024 CREFC Annual Conference in New York, including return-to-office trends, the “acceptance of reality” in the commercial real estate industry, what’s really happening in those “invitation only” sessions, and keynote speaker Trevor Noah’s poignant thoughts about airplane turbulence. Show Notes THE CRED – Private Credit News and Insights Dechert Co-Chair Mark Thierfelder’s Milken Institute 2024 Global Conference “The Promise and Pitfalls of Private Equity” Panel2024-06-2042 minDechert On RegDechert On RegBreaking Down the UK’s New Anti-Greenwashing RuleThe UK’s Financial Conduct Authority is combatting greenwashing with a new rule designed to protect customers from investment firms’ false or misleading sustainability claims about their products. In this edition of Dechert On Reg, Angelo Lercara, Mikhaelle Schiappacasse and Simon Wright examine the FCA’s new sustainability disclosure safeguards and how they could impact asset managers in the near future. Show Notes: FCA’s Anti-Greenwashing Rule and Related Guidance: A Summary – Dechert OnPoint (May 2024)2024-05-3013 minDechert 4 RealDechert 4 RealAnalyzing Agency CMBS with Leah Nivison and Tipping the Scales on Fish JokesHosts Jon Gaynor, Ella Smith and Sam Gilbert welcome BMO Capital Markets Managing Director Leah Nivison to discuss recent trends in the agency commercial mortgage-backed securities (CMBS) market, the importance of mentorship in the commercial real estate industry and why you should add petting an elephant to your summer vacation plans. Plus, we talk about Fitch requesting feedback on its proposed SASB C-PACE ratings criteria, the U.S. Supreme Court’s ruling on pure omissions, and the most fin-tastically fishy dad jokes you’ve ever heard.Show Notes:Fitch Ratings Publishes U.S. Single-Borrower C-PA...2024-05-2133 minDechert On RegDechert On RegAIFMD 2.0: New Rules Impacting Loan Origination FundsThe latest episode of our On Reg podcast dives deep into the AIFMD's new rules and their transformative effects on loan origination strategies and fund management. Whether you're navigating the complexities of today's financial regulations or just interested in learning the latest industry developments, this episode is essential listening. Special guest Marianna Tothova offers her insights on what's changed for AIFMD, what's to come, and how it may affect your business.Show Notes:Dechert's World PassportDechert's World Compass2024-05-2026 minDechert 4 RealDechert 4 RealPutting the Fun in Fund Formation, Climate Disclosure Rule Developments and Springtime BanterIn this episode of Dechert 4 Real, hosts Jon Gaynor, Ella Smith and Sam Gilbert are joined by partner Lindsay Trapp, who breaks down the intricacies of the structuring and formation of complex credit private funds, rated feeder and parallel funds and collateralized fund obligations (CFOs), including rating considerations and the impact on managers looking to raise insurance capital in the commercial real estate debt space. We also discuss developments on the SEC's evolving climate-related disclosure rules and our favorite springtime activities.Show Notes:SEC Adopts Final, Comprehensive Climate Disclosure Rules (Newsflash)Collateralized Fund Obligations...2024-04-1642 minDechert On RegDechert On RegFunds Congress: Regulatory Roadmap Panel RecapThe regulatory landscape defining the asset management sector is set to undergo significant changes in the years ahead. In this episode of Dechert On Reg, host Angelo Lercara is joined by Richard Frase and Philippa List to recap the crucial updates presented during the "Regulatory Roadmap" panel at this year's Funds Congress event, including ESMA's priorities, ELTIFs, AIFMD 2.0 and more.View the Funds Congress 2024 highlights here.2024-04-1021 minDechert 4 RealDechert 4 RealCRE CLO Delinquencies, Unconstitutional CTA, Single-Family Rental (SFR) Financing and What Happens in Vegas...What impact do high interest rates and appreciating home values have on single-family rentals? In this episode of our 4 Real podcast, our hosts Jon Gaynor, Ella-Marie Smith and Sam Gilbert join Dechert partner Ken Hackman to discuss the popular single-family rental (SFR) asset class and the rise of 'build to rent' properties, while also providing insights into recent CRE CLO delinquencies and an Alabama Federal Court Ruling on the "unconstitutionality" of the Corporate Transparency Act (CTA). Plus, find out what happens in Vegas as our team shares their best Sin City adventures.2024-03-1330 minCommitted CapitalCommitted CapitalThe Evolving Credit Secondaries MarketOn the back of a record-setting 2023, the secondary market delivered estimated volumes surpassing US$110 billion. The momentum for credit secondaries shows no sign of slowing down in 2024, but what are the key drivers and trends fueling its growth?In this episode, Dechert’s Nicole Macarchuk leads a discussion with Apollo’s Olga Kosters on how the secondaries market has evolved in recent years, the current market opportunity for LP and GP-led secondaries, why large asset managers are being drawn into the market, the top considerations from the buy-side, and more.2024-03-1131 minDechert 4 RealDechert 4 RealNPLs and Dolphins, the Proposed Basel III Endgame and Introducing Our PetsIn our latest episode, hosts Jon Gaynor, Ella-Marie Smith and Sam Gilbert are joined by Dechert partners Laura Swihart and Matthew Fischer to discuss non-performing loan securitizations (NPLs) and the unexpected collateral used in these transactions. We also chat about current issues in the commercial real estate market related to the proposed Basel III Endgame, which could increase regulatory capital charges for banks, and proudly introduce our pets.2024-02-1435 minDechert 4 RealDechert 4 RealCREFC Roulette Resolutions, Shaq Quotes and Conference ClichésIn our first episode of 2024, co-host Jon Gaynor and producers Matt Armstrong, Stewart McQueen and Kate Mylod play a round of CREFC Roulette following the Council’s annual January conference in Miami. Topics include overall industry sentiment, interest rate expectations, the future of multifamily, and more.2024-01-2243 minCommitted CapitalCommitted Capital2024 Global Private Equity Outlook: Trends and OpportunitiesA year of rising interest rates and slower growth has proved challenging for the global PE industry. Yet, notwithstanding a decline in fundraising and dealmaking over the past year, how are resilient managers overcoming today’s challenges and setting themselves up for success during 2024? In this special episode of Committed Capital, private capital and PE leaders from Hamilton Lane, Tikehau Capital, Capital Square Partners and Court Square Capital Partners offer their perspectives on the key findings from Dechert and Mergermarket’s 2024 Global Private Equity Outlook report, including the rise of G...2024-01-171h 00Dechert On RegDechert On RegThe Impact of Upcoming Individual Accountability Rules on Irish-Regulated EntitiesThe Central Bank Individual Accountability Framework Act of 2023 is likely to have far-reaching implications on Irish-regulated entities. In this episode of Dechert On Reg, Doireann O’Daly, Mark Dillon and Simon Wright join host Angelo Lercara to discuss the impact on strengthening the individual accountability of senior executives in the operation of management companies, investment firms and fund boards in Ireland. 2023-12-2136 minDechert 4 RealDechert 4 Real4ward Legal Thinking, CRE Industry Updates and Festive Holiday TraditionsIn this episode of the Dechert 4 Real podcast, hosts Jon Gaynor, Sam Gilbert and Ella-Marie Smith share their predictions on trends and upcoming regulatory changes expected to drive commercial real estate industry developments in 2024. We touch on issues percolating in the market in our 411 segment, as guest John Ludwig-Eagan joins to discuss the latest updates on SEC Rule 192. And, we share our favorite (and festive!) holiday traditions. Show NotesSEC Releases Final Rule 192 Relating to Conflicts of Interest in Securitization, Dechert OnPoint (December 6, 2023).2023-12-1533 minDechert On RegDechert On RegEMIR Reporting: Changes Afoot - What You Need to Know2024 heralds significant changes to the EMIR reporting regime in both the EU and the UK.  All market participants that enter into derivatives – from asset managers to investment firms – are likely to be impacted. In this episode of Dechert On Reg, host Angelo Lercara is joined by Karen Stretch, Richard Chapman and Philippa List who together take a look at the EMIR reporting requirement, the changes coming and how to prepare. 2023-12-0433 minLeaders with AmbitionLeaders with AmbitionEp. 47 - Stuart Davis - Global Director of Marketing and Business Development, Litigation, Dechert LLP - 'Keep your eyes and ears open – and your mouth shut!'“Keep your eyes and ears open – and your mouth shut!” Unlikely as it may seem, these words of advice from a wizened WWI veteran resonate still today for Nicky Acuna Ocana’s guest on this episode of Leaders with Ambition. Stuart Davis, Global Head of Marketing & Business Development, Litigation at Dechert LLP, believes being alert and attentive is key to building valuable relationships in all areas of life – and success in professional settings. Based in Washington, D.C., Stuart shares the cumulative wisdom he’s gathered throughout his life’s journey – from growing up in rural Wyoming to signing on to...2023-11-1347 minDechert 4 RealDechert 4 RealCommercial Real Estate in the UK, Plus the Corporate Transparency Act, Cayman Updates and Halloween TreatsIn this episode, co-hosts Jon Gaynor, Sam Gilbert and Ella Smith welcome global finance partner Aparna Sehgal of Dechert’s London office to compare and contrast the CRE market in the UK with that of the U.S. The group also gives updates on the Corporate Transparency Act and the grey list status of the Cayman Islands, and shares their Halloween costumes from this year’s festivities. Show NotesCorporate Transparency Act“Two Months to Midnight for Securitizations: The Corporate Transparency Act Drops on January 1, 2024,” Dechert OnPoint (November 2, 2023).UK Economic...2023-11-0735 minDechert On RegDechert On RegThe SEC’s New Private Fund Adviser Rules: What Asset Managers Should ExpectThe SEC’s new private fund adviser rules represent the most significant change to the regulation of private funds and their advisors in the US since the 2008 financial crisis. In this episode, host Angelo Lercara is joined by financial services partners Karen Anderberg and Michael McGrath to discuss how asset managers will be impacted by the new rules, which significantly reform the scope of reporting, disclosure, and other obligations imposed on investment advisors to private funds. 2023-11-0238 minCommitted CapitalCommitted CapitalPrivate Equity Investments in Food and AgricultureIn recent years, the food and agricultural sector has seen growing interest from private equity investment. Driven by an increased demand for food, environmental, social and governance issues, as well as an awareness of climate change, investor interest in sustainable agriculture is set to continue and grow. What are the key drivers behind this trend? In this episode, Dechert’s Nick Marchica leads a discussion with Blue Road Capital’s David Blue and Farmers Gate’s Daniel Fabian on what makes investing in food and agriculture so appealing, how investors can innovate to meet the increasing demand, and the trends...2023-11-0230 minDechert 4 RealDechert 4 RealCREFC Capital Markets Conference, Warehouse Facilities and Autumn FavoritesIn a special episode, co-host Jon Gaynor joins producers Matt Armstrong, Stewart McQueen and Kate Mylod, and special guest partner Gennady Gorel for another round of CREFC Roulette following the Capital Markets Fall Conference in New York. Gennady also digs into the latest trends impacting warehouse financing, and the group shares their favorite fall fun-tivities, minus the pumpkin spice.2023-10-1042 minCommitted CapitalCommitted CapitalSidecar: The Corporate Transparency Act - Implementation UpdateThe U.S. Corporate Transparency Act (CTA) and its new reporting regime take effect on January 1, 2024. In this episode of Committed Capital Sidecar, private equity partners Sarah Kupferman and Greg Schernecke provide an update on its implementation. The CTA’s rules will impact corporations, LLCs, partnerships and other entities and vehicles that exist on January 1, 2024, or are created or registered to do business thereafter in the U.S.  The regime requires applicable reporting companies to report certain beneficial ownership information to FinCEN.  London private equity partner Chris Field joins the conversation to discuss the...2023-09-1115 minDechert On RegDechert On RegAIFMD 2.0In the third episode of Dechert On Reg, we discuss a profound piece of legislation for the asset management sector - the Alternative Investment Fund Managers Directive or AIFMD. Now, after more than 10 years, the European Union legislator is contemplating revisions commonly referred to as AIFMD 2.0. Angelo Lercara, Patrick Goebel, Philippa List, and Marianna Tothova consider the impact of the upcoming reforms and discuss the provisional agreement reached among the co-legislators. 2023-09-0630 minDechert 4 RealDechert 4 RealCRE Litigation Trends, Lending Order Disruptions, Article 7 Reporting Updates and Nerdy Beach ReadsIn our latest episode, hosts Jon Gaynor, Sam Gilbert and Ella-Marie Smith welcome Dechert partner Mauricio España to discuss recent trends in CRE litigation, and how clients are more inclined than ever to work towards resolution. The group also chats about possible disruptions to the lending order as banks continue to pull back, including predictions as to who may step up, developments to Article 7 reporting affecting securitizations that may present liquidity opportunities for the market, and the non-business books they’re reading to close out the summer. Show Notes:“Update on the N...2023-09-0538 minDechert On RegDechert On RegRated Funds DevelopmentsIn the second episode of Dechert On Reg, host Angelo Lercara and Dechert partner Lindsay Trapp discuss developments from the U.S. National Association of Insurance Commissioners' (NAIC) 2023 Summer Meeting. The episode explores expanded definitions for "principles-based bonds" and “residual tranches" and their impact on rated feeder funds and collateralized fund obligations (CFOs), as well as proposed amendments to the NAIC's Securities Valuation Office (SVO)’s discretion over NAIC Designations assigned through the filing exemption process.2023-08-2930 minCommitted CapitalCommitted CapitalSidecar: FTC Proposes Substantial Changes to HSR Filings – How Will It Affect Private Equity?The FTC has proposed a complete overhaul of filings related to the Hart-Scott-Rodino (HSR) Act. In this episode of Committed Capital Sidecar, Dechert's James Fishkin, Rani Habash and Beverly Ang discuss the key proposals likely to impact private equity firms and deal timing.2023-08-2312 minCommitted CapitalCommitted CapitalSidecar: The New U.S. Outbound Investment Regime and Considerations for Private EquityPresident Biden signed a highly anticipated Executive Order on August 9 to establish the foundation for a U.S. outbound investment regime. In this podcast, Dechert national security partners Jeremy Zucker, Darshak Dholakia and Hrishikesh Hari examine the Biden Administration’s proposal and related considerations for the private equity community.2023-08-1515 minCommitted CapitalCommitted CapitalPrivate Credit: State of the MarketBanks have reduced their lending activities to private companies of all sizes over the last 10 to 15 years and bank regulators have continued to pressure banks to remain on the sidelines in this lending market. Private credit providers have not only stepped in to fill this void, they have also significantly grown their share of the large company lending market. This explosive boom in private lending has been supported by larger fundraising vintages and expanded origination capabilities, including offering competitive lending terms compared to the bank and syndicated loan markets. What are the drivers behind this growth, and where is...2023-08-0934 minDechert 4 RealDechert 4 RealDistressed Debt in CRE: Silver Linings, a War Story From the GFC and the Dog Days of SummerIn our latest episode, hosts Jon Gaynor, Sam Gilbert and Ella-Marie Smith welcome Dechert partner Laura Ciabarra to discuss distressed debt in CRE, including market trends, some silver linings that may surprise you, and a war story from the GFC. The group also chats about developments in Boston related to office to resi conversion, a bankruptcy case that could impact the meaning of funding in a lender's sole discretion, and their favorite activities during the dog days of summer.  Learn more: Federal Regulators Adopt a New Policy Statement on Prudent Commercial Real Estate L...2023-08-0434 minDechert On RegDechert On RegUK Mansion House Reforms and ELTIF 2.0 UpdatesIn our first episode, host Angelo Lercara explores the latest trends and challenges facing the European asset management sector with Dechert colleagues Colin Sharpsmith, Simon Wright and Matthias Kerbusch, including the future regulatory framework of the UK, the retailization of private assets and the European Long-Term Investment Fund (ELTIF) regime. Listen now. 2023-07-2719 minDechert 4 RealDechert 4 RealSEC’s Securitization Conflict of Interest Rule, Cayman Island Updates and Favorite Vacation SpotsIn our latest episode, co-hosts Jon Gaynor and Ella-Marie Smith welcome Dechert global finance associate, John Ludwig-Eagan, to discuss the SEC’s new Conflict of Interest rule regarding securitizations. The group also debates whether the Cayman Islands will move off the FATF’s grey list, shares favorite vacation spots – complete with meal recommendations – and launches the “4-1-1” and “4 Real High Fives.”Read more about the SEC’s Securitization Conflict of Interest Rule here: https://www.dechert.com/knowledge/onpoint/2023/2/the-return-of-dodd-frank-rulemaking.html2023-07-0627 minDechert 4 RealDechert 4 RealCREFC Roulette: Six Key Themes and Four Cocktails Inspired by the June ConferenceIn this special episode, our producers Matt Armstrong, Stewart McQueen and Kate Mylod take to the mics alongside Jon Gaynor to recap the Commercial Real Estate Finance Council’s June Conference held in New York City from June 12-14. Topics include industry sentiment towards the Fed regarding interest rates, the encouraging buzz around CRE-CLOs, and the fate of office as an asset class, plus four CRE-inspired cocktail ideas to keep spirits high during down markets. 2023-06-2231 min