Opportunity zone funds - What sponsors need to know

Mon, 25/02/2019 - 12:00

This Private Equity Wire report, produced in collaboration with Gemini Fund Services, offers practical guidance for those thinking about setting up an Opportunity Zone Fund and how to determine whether it is a right fit for their business…

The 'Opportunity zone funds - What sponsors need to know' special report comprises 2 separate articles listed below, these can be read individually or as a sequence.
David Young, Gemini

Are you a fit for opportunity zone funds? What sponsors need to know

Mon, 25/02/2019 - 12:00

In 2017, US Congress established the Federal Opportunity Zones Program, which was in many ways a stroke of genius. This Program provides investors tax relief while at the same time gives a serious capital injection to deprived and under-served communities across the country. US Secretary of the Treasury Steven Mnuchin expects opportunity zones to attract USD100 billion in investment. »

Richard Shamos, Sadis & Goldberg

Fund execution – legal, accounting and fund operating considerations

Mon, 25/02/2019 - 12:00

1. A legal perspective – The way one thinks about a QOF, operationally, will largely depend on the Fund’s underlying strategy. A real estate fund strategy will differ from a private equity strategy, and there will be structural differences as to how these are run. A private equity sponsor, for example, would likely manage investments through an intermediate corporate or partnership entity, which will itself qualify as an opportunity zone business.  »

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