August 5, 2010
Volcker Rule sets fund spinoffs in motion
James S. Seevers, Jr., head of the private equity practice group, spoke to The Deal about the Dodd-Frank Wall Street Reform and Consumer Protection Act's "Volcker Rule" and the subsequent spinoff of bank-owned funds that has been set in motion. Seevers said the sellers are likely to fall into two main categories: banks that actively manage in-house funds and banks that have a portfolio of outside hedge and buyout funds. Seevers predicts the most likely buyers will be other PE and hedge funds.
Seevers regularly represents sponsors of private equity and other private investment funds and alternative asset investors in all aspects of their businesses, including fund formation and structuring, offerings, investments, platform establishment, secondary transactions, divestitures and compliance matters.