Program Details
2026-09-21 14:30:00
Over 1,000+ webinars
Course Overview
2026-09-21 14:30:00
2h CLE Credits
Intermediate
2
2:30 pm - 3:30 pm ESTPrivate fund sponsors are moving into registered products at record pace, and the conversion transaction sits at the intersection of partnership tax, corporate tax, and the Investment Company Act. This session walks through the available conversion paths, the tax treatment of each, and the structuring decisions that determine whether legacy investors take a tax hit on the way in.
Leila E. VaughanJillian L. Bosmann 3:40 pm - 4:40 pm ESTOnce the fund is registered, Subchapter M does not bend for alternative strategies. This session covers the quarterly asset diversification and gross income tests as applied to private credit, pre-IPO equity, and other alternative holdings — including concentration problems created by appreciating positions — plus distribution requirements, excise tax planning, and the tax mechanics of the new dual share class (ETF class) structures.
Leila E. VaughanJillian L. BosmannLeila Vaughan is a partner in the Philadelphia office of Faegre Drinker Biddle & Reath LLP, where she counsels investment management clients on investment tax matters. Her practice centers on private equity funds, regulated investment companies, hedge funds, lending funds, and real estate investment funds, and covers the tax dimensions of fund structuring and formation, portfolio investments, RIC compliance, and fund mergers and liquidations. She also works on mergers and acquisitions, tax-free reorganizations and spinoffs, nonprofit matters, and qualified opportunity funds.
Jillian L. Bosmann is a partner in the Philadelphia office of Faegre Drinker Biddle & Reath LLP, where she advises investment companies, investment advisers, and fund boards on the legal, regulatory, and compliance issues that arise throughout the lifecycle of investment funds. Her practice focuses on supporting new product development, advising advisers on fiduciary obligations, and helping fund boards implement effective governance and risk management practices. Jillian regularly counsels clients on matters arising under the federal securities laws, including the Investment Company Act of 1940 and the Investment Advisers Act of 1940.
Leila Vaughan is a partner in the Philadelphia office of Faegre Drinker Biddle & Reath LLP, where she counsels investment management clients on investment tax matters. Her practice centers on private equity funds, regulated investment companies, hedge funds, lending funds, and real estate investment funds, and covers the tax dimensions of fund structuring and formation, portfolio investments, RIC compliance, and fund mergers and liquidations. She also works on mergers and acquisitions, tax-free reorganizations and spinoffs, nonprofit matters, and qualified opportunity funds.
Jillian L. Bosmann is a partner in the Philadelphia office of Faegre Drinker Biddle & Reath LLP, where she advises investment companies, investment advisers, and fund boards on the legal, regulatory, and compliance issues that arise throughout the lifecycle of investment funds. Her practice focuses on supporting new product development, advising advisers on fiduciary obligations, and helping fund boards implement effective governance and risk management practices. Jillian regularly counsels clients on matters arising under the federal securities laws, including the Investment Company Act of 1940 and the Investment Advisers Act of 1940.
Requirements
The Alabama State Bar MCLE Commission requires attorneys to complete 12 credits, including 1 ethics, by December 31 of each year. All credits must be reported by February 15 of the following year. A maximum of 12 credits, including 1 ethics credit, may be carried over for 1 year only.
Formats
