Regulation

The bank plans to request additional extensions for the majority of the $2.3bn investments while considering other options such as secondaries sales.

Blackstone, Fenway Partners and Blackstreet Capital Management were among the firms to be slapped with multi-million dollar fines including one charge related to a secondaries deal.

The bank is in talks with Houlihan Lokey to explore the sale of private equity, real estate and infrastructure stakes valued at as much as $2bn, Secondaries Investor has learned.

Private equity firms should go beyond enforcement cases and speeches and look internally to identify problems that could arise during an SEC inspection, said the Commission’s Igor Rozenblit.

The committee approved the act – which would roll back regulatory oversight of private equity – by 30 votes to 26.

The bill imposes more requirements on California-based public pensions to disclose private equity fees and was passed into law at the end of August.

The New York-based investment bank has to meet Volcker Rule standards, which requires banks reduce their private investment interests to 3% of their tier 1 capital by the new July 2017 deadline.

The global law firm, which advises on secondaries, has hired Robert Rice as a partner in its litigation and dispute resolution group.

Advisory firms that provide investment management services to EU clients, such as secondaries managers, must still comply with the directive, the UK's financial regulator says.

Previously an associate regional director at the SEC, Catherine Dabney O’Riordan will focus on investigating misconduct by private funds, investment advisors and investment firms.