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WASHINGTON, D.C. — Stradley Ronon partner and investment management co-chair Sara Crovitz and partner and retail alternative funds chair Nicole Simon spoke at the Investment Adviser Association (IAA)’s “What’s New With Retail Alternative Investments” webinar on July 9. Sara and Nicole served on a panel discussing the current landscape of retail alternative investment fund structures that provide access to private markets.

The panelists explored the latest developments in listed and unlisted business development companies (BDCs), including the growing role of private credit strategies in retail accessible vehicles, tender offer and interval funds, evergreen private funds and hybrid structures and collective investment trusts. Sara and Nicole also discussed how recent developments in U.S. Securities and Exchange Commission and U.S. Department of Labor regulations and guidance have the potential to impact the landscape for retail alternatives. 

As a former deputy chief counsel and associate director of the SEC’s Division of Investment Management, Sara has more than 25 years of experience providing guidance to the asset management industry under the Investment Company Act of 1940 and Investment Advisers Act of 1940. She provides counsel on the most pressing issues impacting the markets, including those related to independent trustees, mutual funds, money market funds, closed-end funds and exchange-traded funds as well as standalone advisers. 

In her practice, Nicole counsels clients focused on making alternative asset classes and strategies available to a broader audience, including high-net-worth and retail investors. Nicole’s experience includes advising investment advisers, funds and boards of directors/trustees regarding traditional and novel product offerings. She regularly advises on the practical and regulatory considerations central to the design, formation and ongoing operation of funds regulated under the Investment Company Act of 1940, including interval funds, tender offer funds, BDCs and funds electing to be taxed as real estate investment trusts.

About Stradley Ronon Stevens & Young, LLP
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