In an Aug. 31 WSJ Pro Private Equity article titled “Cumming’s Take: Accredited-Investor Changes Unlikely to Move the Needle,” ERISA partner Josh Lichtenstein discussed the SEC’s latest efforts to expand the definition of an accredited investor, or a person allowed to invest in private funds like buyout vehicles and hedge funds.
The changes “are more about cutting down the number of people who are excluded from investing than broadening the pool of investors,” Josh said. Some of the changes are technical fixes to rules that made it difficult for certain groups to invest in private funds.
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