Media Mentions
Schulte partner Craig Stein quoted by Refinitiv
August 31, 2023
Schulte Roth & Zabel partner Craig Stein recently spoke to Kristen Haunss from Refinitiv Loan Connector for her article, “CLOs Exempt From SEC Private Fund Rules.”
The additional oversight from the SEC for private fund advisers is unnecessary for CLOs as they are already highly negotiated and provide important information to investors in trustee reports.
“A number of the original proposals, quite honestly, were just extremely burdensome for the CLO market and in many ways unnecessary. I think that is exactly the reason why the SEC exempted CLOs,” Craig commented.
He continued, “The information that they are asking private funds to distribute to investors is not really material to CLO investors, and CLO investors get a lot of information that is relevant to them that is very different from private funds.”
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