As we close out the first quarter of 2025, fund managers and investors are reflecting on a period marked by heightened uncertainty and shifting dynamics across global financial markets. From the inauguration of a new U.S. president and its potential policy implications to persistent market volatility and evolving geopolitical risks, the start of the year has brought both challenges and opportunities.
In the private markets, fundraising remains challenging, although there is optimism! While investor appetite for strong performing strategies is prevalent, LPs continue to scrutinize track records, fees, and the speed of capital deployment, leading to longer fundraising cycles. Meanwhile, market volatility driven by interest rate speculation and tariffs has added another layer of complexity to deal execution.
In this newsletter, we explore the 2025 outlook for private equity and private credit markets and US regulatory developments. As always, we are committed to helping clients stay ahead and informed during this evolving environment, helping them navigate change with confidence.
We look forward to working with you throughout the year and seeing brighter skies in the not-so-distant future.
Best regards,
Suntera Fund Services
by Haynes & Boone
In a landmark move, the SEC has issued no-action relief clarifying the accredited investor verification process under Rule 506(c) of Regulation D. Historically underused due to its burdensome verification requirements, Rule 506(c) allows for general solicitation in private offerings, but fund managers have hesitated to rely on it. The new guidance, secured by Latham & Watkins, introduces a simplified framework based on minimum investment thresholds ($200K for individuals, $1M for entities) and investor self-certification, removing major roadblocks for issuers.
This breakthrough is expected to reshape private fundraising by enabling broader use of digital marketing, speeding up onboarding, and expanding investor reach, especially for emerging and specialized fund managers. The SEC’s action fulfills the original promise of the JOBS Act, modernizing private capital formation while maintaining essential investor protections.
Read the article here. Reach out to Shelley Rosensweig at Haynes and Boone with questions.
The Earnout’s 2025 Independent Sponsor Summit
This January, we headed to Miami for The Earnout’s 2025 Independent Sponsor Summit. Michael Von Bevern participated in several roundtable discussions where he shared insights on how to scale operations effectively, fundraising during challenging times and how third-party providers provide sponsors with the flexibility to focus on more strategic initiatives.
Upcoming Event
Join us on May 1st at Annie Moore’s for our Spring Soiree. We are celebrating the end of busy season, and there’s no better way to do that than with friends and colleagues. Register here.
In case you missed it, we shared insightful content this past quarter.
AW Outlook 2025: Private Credit Optimism Knows No Bounds
In March, Suntera Fund Services and Tenor announced a strategic co-sourcing partnership to elevate private credit loan administration. As private credit expands, so do the complexities of loan servicing, borrower monitoring and compliance tracking. Through this collaboration, we’re combining Tenor’s leading loan administration software with Suntera Fund Services’ experienced team to provide private credit managers with an institutional-grade service. Learn more about this co-sourcing partnership by contacting Matt Reynolds at matthew.reynolds@suntera.com.
Visit our funds overview page for information on our comprehensive services.
Key Contact:
Michael Von Bevern
CO-MANAGING DIRECTOR, AMERICAS
View Bio | Email Michael | LinkedIn
