Well-Caffeinated: What’s Brewing for the 2025 Funds Regulatory Environment?

Changes at the U.S. Securities and Exchange Commission (“SEC”) resulting from the 2024 election will have significant implications for the private funds industry. Tim Clark, Freshfields’ Global Co-Head of Private Funds and Secondaries, and David Nicolardi, a counsel at Freshfields and former SEC Branch Chief, discuss the expected impacts on SEC regulation, exams, and enforcement priorities related to private funds. Tim and David explore, among other issues, the Marketing Rule, ESG and DEI, and regulatory challenges posed by the growth of Artificial Intelligence (“AI”).