Fed officials: Private credit “well-positioned” on risk and financial stability
Managed Funds Association
by Nicholas Deitz
5d ago
Private credit provides over $1 trillion in capital to businesses of all sizes helping them hire talent, invest in costly projects, purchase equipment, build facilities, and innovate. New data shows capital provided by private credit funds increased by 40% in 2023 compared to 2022.   This tremendous growth has led some to ask whether private credit poses systemic risks to the financial system. Here are the facts from three Federal Reserve officials:  On May 8, Federal Reserve Governor Lisa Cook remarked that, “Private credit funds appear well positioned to hold the riskiest pa ..read more
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MFA announces Rob Hailey as Managing Director, Head of EMEA Government Affairs
Managed Funds Association
by Nicholas Deitz
5d ago
London, UK – MFA, the trade association for the global alternative asset management industry, today announced Rob Hailey as Managing Director, Head of Europe, Middle East and Africa (EMEA) Government Affairs. Hailey is based in the UK and will lead MFA’s London and Brussels offices. Additionally, he will oversee MFA advocacy in the Middle East.  “Rob will be a tremendous asset for MFA advocacy in the UK, EU, and Middle East,” said Bryan Corbett, MFA President and CEO. “I know that Rob’s decades of experience in financial services will enable him to build on the success MFA has already ha ..read more
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MFA statement on court vacating Private Fund Adviser Rule
Managed Funds Association
by Nicholas Deitz
1w ago
Washington, D.C. — MFA President and CEO Bryan Corbett issued the following statement after the Fifth Circuit Court of Appeals vacated the Private Fund Adviser Rule: “Today’s ruling is a significant victory for markets, fund managers, and investors, including pensions, foundations, and endowments. The court affirmed that the SEC cannot expand its authority beyond what Congress intended. Unfortunately, this is just one instance of SEC overreach as it looks to push through the most aggressive agenda in decades. MFA will continue to work constructively with the SEC to help improve its rushed ..read more
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MFA recommends Australia assess non-competes on industry-by-industry basis before making any policy adjustments
Managed Funds Association
by Nicholas Deitz
1w ago
Flores: “Restricting the use of non-competes in the alternative asset management industry will harm the returns generated for investors, including pensions, foundations, and endowments” London UK – MFA recommended that Treasury’s Competition Taskforce study how non-competes are used in specific industries before reaching any policy prescription in a comment letter submitted last week. The letter emphasises how non-compete agreements benefit investors and employees working in the alternative asset management industry. The recommendation is in response to the Australian Government’s request for ..read more
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MFA supports DFSA improving its regulatory framework for credit funds
Managed Funds Association
by Nicholas Deitz
3w ago
DFSA proposal will allow Dubai-based investment adviser to manage credit funds domiciled abroad  Washington, D.C. — MFA supported the Dubai Financial Services Authority (DFSA) proposal to allow Dubai-based fund managers to oversee credit funds domiciled abroad in a comment letter submitted today. The comment letter is in response to a Consultation Paper and is related to the Credit Funds Call for Evidence MFA responded to earlier this month. “Expanding the types of funds a Dubai-based investment adviser can manage will enhance the region’s attractiveness as a global f ..read more
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MFA recommends improvements to DFSA private credit regulations
Managed Funds Association
by Nicholas Deitz
1M ago
Corbett: “Improving private credit regulations will unlock billions of dollars in capital to businesses of all sizes, and benefit investors in private credit funds” Washington, D.C. — MFA supports the Dubai Financial Services Authority (DFSA) right sizing its regulation of private credits funds and recommends improvements to the DFSA private credit funds regulatory regime in a comment letter submitted today. The letter is in response to DFSA’s Private Credit Funds Call for Evidence.  In the letter, MFA encourages DFSA to harmonise its regulations with other global regulatory bodies to fo ..read more
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MFA issues recommendations on the use of AI tools in derivatives markets to CFTC
Managed Funds Association
by Nicholas Deitz
1M ago
Corbett: “MFA’s AI recommendations will ensure the CFTC can address concerns it might have about the use of the technology without harming innovation, markets, or investors.”  Washington, DC – MFA made recommendations for how the Commodity Futures Trading Commission (CFTC) should approach the use of artificial intelligence (AI) tools in derivatives markets in a comment letter. The letter is in response to the CFTC staff’s request for comment on the use of AI in CFTC-regulated markets. The use of AI tools by alternative asset managers benefits derivatives markets, managers, and inv ..read more
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MFA calls for the FCA to withdraw its name and shame proposal
Managed Funds Association
by Nicholas Deitz
1M ago
Corbett: “The FCA’s proposal to publicly name firms before any wrongdoing is established will undermine the economic competitiveness of the UK.” London, UK – MFA urged the FCA to withdraw its proposal to publicly name financial firms under investigation in a comment letter today. The letter, which highlights the devastating consequences of publicly shaming financial firms before an investigation is complete, is in response to FCA’s consultation paper 24/2 on the Enforcement Guide and Publicising Enforcement Investigations.  MFA has deep concerns with the name and shame proposal. The prop ..read more
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Pensions, endowments, and foundations invested nearly $1.3 trillion in hedge funds across all 50 states
Managed Funds Association
by Kimberly Gastelum
2M ago
New data also shows private credit funds provided over $1 trillion to American businesses of all sizes — 40% increase from 2022 WASHINGTON, D.C. – Pensions, foundations, and endowments in all 50 states invested nearly $1.3 trillion with hedge funds, according to new 2023 data from MFA’s educational campaign, Investing in Opportunity. The data also shows that private credit funds provided American businesses of all sizes with more than $1 trillion in capital in 2023 — an increase of 40% compared to 2022. Visitors to InvestingInOpportunity.org can explore how Americans in their state benefit fr ..read more
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MFA urges FinCEN to repropose AML/CFT rule
Managed Funds Association
by Kimberly Gastelum
2M ago
MFA supports FinCEN’s AML/CFT efforts, but re-proposal is needed to clarify private fund requirements Washington, DC — MFA urged FinCEN to repropose its rule on anti-money laundering/countering the financing of terrorism (AML/CFT) in a comment letter today. The re-proposal is needed to right-size the rule to more appropriately apply AML/CFT requirements to private funds and to seek further comments on those revised requirements. MFA supports FinCEN’s goal of combatting money laundering, terrorist financing, and other illicit financial activity. Sophisticated investors in private funds are scr ..read more
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