Hedge Fund Partner Discusses Fund Managers’ Reluctance to Take Advantage of New JOBS Act Marketing Rules in Law360

In an April 10 Law360 article titled “5 Reasons Funds Won’t Touch JOBS Act Marketing Rules,” hedge funds partner Laurel FitzPatrick (New York) discusses why so few private equity and hedge funds have yet to utilize new general solicitation rules permitted by the JOBS Act. Ms. FitzPatrick notes that most managers do not feel the need to market their funds, and are hesitant to participate in general solicitation because the SEC has not finalized changes to its reporting requirements. Ms. FitzPatrick explains that given this uncertainty, many managers have simply chosen to say, “Until we know what we’re getting ourselves into, we’re not going to do it.”