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SBA Update On SBIC Program Examination Priorities
What You Need to Know by Beth Manzi, Chief Operating Officer, PEF Services LLC On October 20, 2017, SBA sent a letter detailing their exam priorities and a new notice requirement. Click here to read the SBIC Program Examination Priorities letter to SBIC Licensees For...
read moreSBA Replaces The Final Rule Concerning SBIC Investments in Passive Businesses
By David Gerogosian, Executive Vice President, PEF Services On August 18, 2017, SBA published revised final regulations on structuring investments through the use of holding companies (passive businesses). The U.S. Small Business Administration (SBA) is withdrawing...
read moreSubscription Lines Of Credit
Understanding Risks & Aligning Interests By Shay Caufield, Executive Vice President, PEF Services The traditional funding mechanism for illiquid alternative asset funds includes the periodic drawdown of capital from investors. This amount is based on the...
read moreDisaster Recovery And Business Continuity
Keep Calm and Carry On By Joe Campbell, CTO, PEF Services LLC Every business can experience a serious incident that can prevent it from continuing normal operations. In this day and age, no business is immune from external or internal threats that can compromise the...
read more3 Best Practices for Fee and Expense Allocations
Fostering Collaboration By Anne Anquillare, Chief Executive Officer and President of PEF Services LLC When GPs find themselves in a defensive position, they can't make the best decisions for the fund and their investors. And fee and expense allocation has become one...
read moreSBA Releases TechNote 7b for Comment
How this impacts your fund by David Gerogosian, Executive Vice President, PEF Services On Thursday, June 22, 2017, SBA released for public comment, the long-awaited revisions to its Management Fee Policy. This TechNote, once finalized, will impact all leveraged SBIC...
read moreTransform Your Back Office into a Center of Excellence
Today's investment firms are poised for growth. But they also face significant challenges, including tighter regulations, more complex reporting requirements, increased reputational risks and rising operational costs. An efficient, transparent back office helps your...
read moreLimited Partner Fees And Expenses: Gaining Clarity At The Investment Fund Level
by Shay Caufield, PEF Services LLC Complex, non-standard reporting processes make it challenging for investors in illiquid alternative asset funds to review, analyze, and verify the data they need. This is a growing concern. Limited Partners [LPs] struggle with...
read moreSmall Business Administration (SBA) Rule Changes
by David Gerogosian, PEF Services LLC There are a number of changes either finalized or proposed by SBA in recent weeks and many of you have probably seen these announced in various publications from the industry. We want to consolidate these here for you in a manner...
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