United States: Fund Management/ REITs

The U.S. Securities and Exchange Commission has proposed significant amendments to modernize interval fund operations and extend multiple share class eligibility to non-traded closed-end funds and business development companies. These changes would eliminate longstanding regulatory barriers by allowing interval funds to defer initial repurchase offers for up to two years, introducing monthly repurchase options, and replacing rigid liquidity requirements with principles-based approaches, while also removing

From New York real estate to private equity, Gavriel Kahane of Arkhouse reveals how he identifies mispriced assets in public markets that private investors overlook. This conversation explores trophy assets, activist investing, and the strategic pursuit of companies like Columbia Property Trust, Macy's, and Family Dollar where Wall Street valuations diverge from Main Street realities.

The SEC's Division of Investment Management is considering rule amendments that would allow investment advisers to charge performance-based fees to a broader range of clients beyond the current "qualified client" threshold. This potential regulatory shift could dramatically expand retail investor access to private markets through registered funds and fundamentally reshape the competitive landscape for fund managers who have previously been deterred by performance fee restrictions.