Kelly Pettit
Managing Director, Chief Compliance Officer, Associate General Counsel, General Atlantic
Private Funds
CFO
CFO
Private Fund Compliance Regulatory Forum
May 21 - 22, 2025
JW Marriott Washington, DC
Decoding regulatory shifts in private equity
The Private Fund Compliance Regulatory Forum will drill down into the changes, including the private fund adviser rules, to make sure you fully understand what’s coming and how to better position your firm.
You’ll hear directly from the SEC to keep you up to date on what’s coming from them, prepared for potential exams, and ahead of all enforcement actions.
With a rich 10+ year history of breaking critical information impacting our industry, private fund compliance professionals make this the must attend event of the year.
Why the Private Fund Compliance Regulatory Forum?
Protect
Protect your firm and investors from SEC enforcement and hear of new actions.
Perfect
Benchmark your firms current compliance processes against others to give you new best practices.
Prepare
Keep yourself up to date on the latest SEC regulations, expectations, and initiatives.
2024 keynotes from the SEC:
SEC enforcement: insights from the front line
Andrew Dean, Co-Chief – Asset Management Unit – Division of Enforcement, U.S. Securities and Exchange Commission will discuss:
- What you need to know regarding recent SEC enforcement actions
- Self-reporting practices and enforcement cooperation program & remediation
- How to avoid a referral to the Division of Enforcement after receiving a deficiency letter
SEC exams: proactive preparation
Join Daniel Faigus, Senior Specialized Examiner – Private Fund, U.S. Securities and Exchange Commission to:
- Cover 2024 exam priorities
- Discover how you can be proactive with your exam preparations through real-world success stories
- Discuss current risk alerts
“One of my go-to events each year due to the timely program content and excellent panelists.”
Liz Staley, Leerink Capital Partners
“The best part is hearing directly from SEC staff on the very granular matters that impact our day to day.”
Daniel Gewanter, Kohlberg & Co
2024 featured speakers
Attendees included:
What our attendees say about the Forum
Sun Capital Partners
Alexandra Maisel
Great networking opportunities, interesting topics, and fabulous guest speakers.
Kohlberg & Co.
Daniel Gewanter
Enjoyed the SEC perspective and perspective of real CCOs from peers
Omega Funds
Mark Russell
Excellent event, with all topics being highly relevant
Keeping you on top of what’s to come
The forum has established a reputation for keeping its attendees on top of emerging trends and challenges. Through engaging panels, interactive think tanks, working groups, and keynote discussions you’ll cover:
- What to look out for in SEC exams
- SEC enforcement actions
- Implications of the new restricted activities rule
- The future of side letters and most favored nation provisions
- Cybersecurity reporting rules
2024 agenda
View agenda page
Agenda
Day 1 - Wednesday 21st
Welcome
08:30 - 09:30
Registration & breakfast
09:30 - 09:35
PEI Welcome
09:35 - 09:40
Chair's opening remarks
Kelly Pettit
Chair:
Kelly Pettit, Chief Compliance Officer and Associate General Counsel, General Atlantic
Kelly Pettit
Managing Director, Chief Compliance Officer, Associate General Counsel, General Atlantic
Read bio
Plenary sessions
09:40 - 10:30
Fireside Chat: Catalyzing Change: Advocating for Private Investment in 2024 and Beyond
Bill Myers,
Rebekah Goshorn Jurata
• Brief introduction to AIC
• The AIC’s thoughts on the new private fund rules
• Why they’re suing the SEC
• Other top priorities for 2024 and beyond
• And more…
Facilitator:
Bill Myers, Washington Correspondent, Private Funds CFO
Speaker:
Rebekah Goshorn Jurata, General Counsel, American Investment Council
10:30 - 11:20
New private fund rules: macro level impacts to the industry
Miles Chan,
Jason Scoffield,
Bruce Karpati,
Jackie Jacobs,
Alpa Patel
- Will more transparency increase competition or lead to consolidation of the industry?
- Will private market capital become more expensive?
- What’s the impact on barriers to entry into the market?
- What are the expected impacts on fundraising?
- What are firms anticipating in terms of increased compliance costs?
Moderator:
Miles Chan, VP/GM, Insight, Ontra
Panelists:
Jason Scoffield, Chief Compliance Officer, Audax Group
Bruce Karpati, Partner, Global Chief Compliance Officer, KKR
Jacqueline Jacobs, Chief Compliance Officer, VSS Capital Partners
Alpa Patel, Partner, Investment Funds Regulatory Solutions Group, Kirkland & Ellis
Networking break
11:20 - 11:45
Networking coffee break
Breakout sessions I
11:45 - 12:35
Track A: Preferential treatment: the future of side letters, most-favored-nations provisions, and more
Nicole Krea,
Nadir Nurmohamed,
Marc Miele,
John Jacobs
- How do you pragmatically plan for the implications of the changes to “most favored nation” rights, co-investment, information, advisory board rights, and other investor-specific arrangements?
- What is the industry’s position on how they are going to interpret these rules?
- What terms will or will not have material negative impacts on other investors?
- How are fund managers and LPs re-negotiating terms?
- Will side letters effectively be cast aside in favor of decisions to amend (or not amend) the LPA for all?
- What are the impacts on future fundraises? Timing of closes?
- Will investors be allowed to exit a fund early therefore diluting the value of remaining investors’ interest in the fund?
Moderator:
Nicole Krea, Partner, Ropes & Gray LLP
Panelists:
Nadir Nurmohamed, Partner & General Counsel, Searchlight Capital Partners
Marc Miele, Head of Fund Operations and Chief Compliance Officer, American Family Ventures
John Jacobs, Managing Director, Head of Compliance and Deputy General Counsel, Gryphon Investors
John Jacobs
Managing Director, Chief Compliance Officer and Deputy General Counsel, Gryphon Investors
Read bio
11:45 - 12:35
Track B: Enhancing transparency and confronting conflicts: practical implications of the new restricted activities rule
Joel Wattenbarger,
Tamar Goldstein,
Ellen Rosenberg,
Allison Miyake
- How do you determine what is “fair and equitable” in charging portfolio-level fees or expenses on a non–pro-rata basis
- How are you going to handle disclosure obligations for advisers and consent requirements?
- What are the implications for tax structuring and compliance matters for private funds?
Moderator:
Joel Wattenbarger, Partner, Ropes & Gray LLP
Panelists:
Tamar Goldstein, General Counsel & & Chief
Compliance Officer, Kimmeridge Energy Management
Company, LLC
Ellen Rosenberg, Partner, General Counsel &
Chief Compliance Officer, GreyLion Partners LP
Allison Miyake, Chief Financial Officer & Chief
Compliance Officer, Clarendon Capital, LLC
Tamar Goldstein
General Counsel & Chief Compliance Officer, Kimmeridge Energy Management Company, LLC
Read bio
Breakout sessions II
12:40 - 13:30
Track A: Quarterly statements: templates and tips for fulfilling these new obligations
Joseph Morrissey,
Adam Childers,
Kabir Masson,
Esana Blank,
Julia Reyes
- Challenges to overcome and actionable steps for compliance with the new requirements
- Rebuilding accounting systems
- Changing from single line items to broken down into several line items across numerous entities
- Where is there potential for error and what are the implications from a risk management perspective?
- Challenges around gathering data
- Going from 90 days after the end of each fiscal year and 45 days after every other quarter end
- Working with deal teams to get valuation data on a regular basis
- Rebuilding accounting systems
- Quarterly statement template reviews
- Operating costs for small to mid-sized advisers vs large advisors
- Marketing rule considerations with providing quarterly statements to prospective investors
Moderator:
Joseph Morrissey, Partner – Investment Management Group, Seward & Kissel
Panelists:
Adam Childers, Chief Financial Officer & Chief Compliance Officer, Quad-C Management, Inc.
Kabir Masson, Partner, General Counsel, Quiet Capital
Esana Blank, Managing Director & Chief
Compliance Officer, CCMP Capital
Julia Reyes, Partner, ACA Group
12:40 - 13:30
Track B: New cybersecurity reporting rules: complying with the new requirements
Chad Allan Neale,
Eric Feldman,
Eric DiFiore,
Louis Cordone
- How do you determine what is material?
- What protocols do you have in place to ensure you’re able to meet the 48-hour deadline?
- How are incidents escalated? What are your policies for drafting notifications and obtaining the necessary approvals?
- How do you test your cybersecurity policies and procedures?
- How do you extend your cyber policies, procedures, and practices throughout your portfolio? What about third-party vendors?
Moderator:
Chad Allan Neale, Senior Vice President, Alliant
M&A
Panelists:
Eric Feldman, Chief Information Officer, The Riverside Company
Megan Vesely, Associate General Counsel & Chief Compliance Officer, Georgian
Eric DiFiore, Chief Compliance Officer, TZP Group
Louis Cordone, Head of Client Success, Drawbridge
Networking luncheon
13:30 - 14:30
Networking luncheon
Plenary sessions
14:30 - 15:20
Technology & outsourcing: keeping up with regulatory demands by optimizing the performance, reliability, and scalability of your firm's compliance operations
Tina Grubisa,
Haris Vrahliotis,
Shauna Harrison,
Ross Goffi,
Nicole Del Rosario
- How are you relying on technology to implement, monitor and track all aspects of your compliance program?
- Data services
- Data collection for transparency, reporting and more
- Employee compliance management
- Electronic communications surveillance solutions
- Gift and entertainment disclosures
- Political contributions
- Technologies to address code of ethics, marketing reviews, etc.
- Outsourcing of various compliance functions
- Where it works and where it doesn’t
- Disclosing and substantiating contractor fees
- Conducting adequate due diligence on outside services
Moderator:
Tina Grubisa, Fund Operations Consultant, Athennian
Panelists:
Haris Vrahliotis, Compliance Director, TowerBrook Capital Partners
Shauna Harrison, Executive Director, Compliance, GCM Grosvenor
Ross Goffi, Chief Compliance Officer, ParkerGale
Nicole Del Rosario, Consultant, COMPLY
15:20 - 16:10
Fireside Chat: LPs discuss the new rules and how they will shape the future
Neal Prunier,
Jody Shaw,
Joshua Sobeck
- What do LPs like about the new rules and what don’t they like
- What do LPs think about the current information asymmetry that exists between
private fund advisers and investors?
- What do LPs think about the current information asymmetry that exists between
- How do LPs feel about the new side letter rules?
- What do LPs think about the new challenges the rules create for private funds?
- How is the ILPA working to make sure the new rules maximize the benefits to all
constituents and helping to mitigate risks and unintended consequences? - Do LPs feel like they will be the ones ultimately paying for the increased compliance costs?
- What is the ILPA working on in terms of other initiatives related to transparency and
reporting?
Moderator:
Neal Prunier, Senior Director, Industry Affairs, ILPA
Panelists:
Jody Shaw, Counsel, Investments, Allstate
Joshua Sobeck, Partner, 747 Capital
Networking coffee break
16:10 - 16:40
Networking coffee break
Think Tanks I
16:40 - 17:30
Think Tank A – Small firm/small compliance team wrap up
Rosemary Bradley,
Marie Milligan
Designed to facilitate candid discussion, think tanks are closed-door sessions for GPs only. Discussions will be facilitator led and will cover top of mind issues and challenges impacting private fund compliance teams today. These sessions will be broken out by firm/team size giving participants the opportunity to exchange best practices with firms/teams of similar size.
As a smaller firm/team where will you struggle to adapt the most?
Areas of concern related to –
- Increased compliance costs
- Outsourcing vs insourcing
- LP relations and fundraising
- Marketing rules
- Compliant communications
- Fees & expenses
Facilitators:
Rosemary Bradley, General Counsel, Shamrock Capital Advisors
Marie Milligan, Chief Compliance Officer, WaterEquity
16:40 - 17:30
Think Tank B – Large firm/large compliance team wrap up
Mike Knauss,
Drew Weilbacher
Designed to facilitate candid discussion, think tanks are closed-door sessions for GPs only. Discussions will be facilitator led and will cover top of mind issues and challenges impacting private fund compliance teams today. These sessions will be broken out by firm/team size giving participants the opportunity to exchange best practices with firms/teams of similar size.
As a larger firm/team, where will you struggle to adapt the most?
Areas of concern related to –
- Having multiple strategies
- Managing multiples funds
- Regulator/LP expectations for greater compliance spend
- Marketing rules
- Compliant communications
- Fees & expenses
Facilitators:
Mike Knauss, Managing Director, Legal & Compliance, Chief Compliance Officer – Infrastructure, Blackstone
Drew Weilbacher, Chief Compliance Officer, Managing Director, TSG Consumer Partners
Networking reception
17:30 - 18:30
Cocktail reception and end of day one
Agenda
Day 2 - Thursday 22nd
Breakfast
08:00 - 08:45
General Breakfast
08:00 - 08:45
Women’s Breakfast: Evaluating Risk in the Current Regulatory Environment
Jamie Toothman,
Marian Fowler,
Melissa S. Gainor
Hosted by:
Facilitators:
Melissa S. Gainor, Partner,
Kirkland & Ellis
Jamie Toothman, Chief Operating
Officer, General Counsel, Chief
Compliance Officer, and Partner,
Harvest Partners
Marian Fowler, General
Counsel/Chief Compliance
Officer, Thrive Capital
Think Tanks II
08:45 - 09:45
Think tank A | CCO think tank ( GPs only)
Jacqueline Giammarco,
Mary Anne Capo
Designed to facilitate candid discussion, this closed-door session for CCOs targets the issues and challenges impacting your firm. Attendees can benchmark ideas and share best practices to help you gain solutions for common concerns facing your office.
Facilitator:
Jacqueline Giammarco, Managing Director & Chief Compliance Officer, Stone Point Capital
Mary Anne Capo, Chief Financial Officer & Chief Compliance Officer, Capstreet
08:45 - 09:45
Think tank B | Senior Compliance Professionals (Invite + GPs only)
Lisa Costello,
Amanda Misch
Designed to facilitate candid discussion, this closed-door session for senior compliance professionals targets the issues and challenges impacting your firm. Attendees can benchmark ideas and share best practices to help you gain solutions for common concerns facing your office.
Facilitator(s):
Lisa Costello, Managing Director, Chief Administrative Officer & Chief Compliance Officer, HCI Equity Partners
Amanda Misch, Senior Vice President, Compliance & Legal, Trilantic North America
Welcome
09:55 - 10:00
Chair’s opening remarks
Kelly Pettit
Chairperson:
Kelly Pettit, Chief Compliance Officer and Associate General Counsel, General Atlantic
Kelly Pettit
Managing Director, Chief Compliance Officer, Associate General Counsel, General Atlantic
Read bio
Keynote Fireside Chat
10:00 - 10:50
SEC exams: proactive preparation
Dan Faigus ,
Laura Ferrell
- Review of newly released 2024 exam priorities
- Expectations from start to finish of the exam process, is there anything new?
- How can firms be proactive with their preparations?
- Specific examples of what other firms have done well
- Current risk alerts and proactive preparation
- What items are most commonly referred to enforcement?
- How the exams division handles referrals to enforcement and what coordination with enforcement looks like
- Issues relating to changes with Form PF
- Key takeaways from recent sweeps – marketing rule
Facilitator:
Laura Ferrell, Partner, Latham & Watkins
Speaker:
Daniel Faigus, Senior Specialized Examiner – Private Funds, U.S. Securities and Exchange Commission
10:50 - 11:40
SEC enforcement: insights from the front line
Michael J. Osnato Jr.,
Andrew Dean
- Insight into the heightened prosecutorial emphasis on private funds
- Are more examinations resulting in enforcement investigations than in the past?
- What you need to know regarding recent SEC enforcement actions
- Self-reporting, cooperation, & remediation
- Avoiding a referral to the Division of Enforcement after receiving a deficiency letter
- What does “meaningful cooperation” look like?
- CCO liability in compliance failures
Facilitator:
Michael Osnato Jr., Partner, Simpson Thacher & Bartlett
Speaker:
Andrew Dean, Co-Chief – Asset Management Unit – Division of Enforcement, U.S. Securities and Exchange Commission
Networking break
11:40 - 12:10
Networking break
Breakout Panels with Peer-to-Peer Workshops
12:10 - 13:25
Panel & Workshop A: What's next: upcoming rules to be aware of
Michael Sherman,
Abrielle Rosenthal,
Steven Spencer,
Teresa Bernstein,
Chris Brannan
These sessions will be more interactive than a traditional breakout panel discussion. The sessions start with a 25-minute panel discussion and will be followed by a 40-minute interactive peer-to-peer workshop. At the end of the workshop, group leaders will come back to the panel table to present key takeaways from each small group.
What’s next: upcoming rules to be aware of
- Predictive data analytics
- Form PF
- Safeguarding
- Outsourcing
- ESG
- SEC’s new guidance on marketing rules
Moderator:
Mike Sherman, Partner, Asset Management, Fried Frank
Panelists:
Abrielle Rosenthal, Managing Director, TowerBrook Capital Partners
Steven Spencer, Partner and Chief Legal Officer, Siris Capital
Teresa Bernstein, Chief Operating Officer, General Counsel and CCO, ACON Investments
Christopher Brannan, Assistant General Counsel and ESG Officer, Pritzker Private Capital
Teresa Bernstein
Chief Operating Officer, General Counsel, and Chief Compliance Officer, ACON Investments
Read bio
12:10 - 13:25
Panel & Workshop B: Exam preparedness: best practices and tips for before, during and after an SEC exam
Ashleigh Brogan,
Mary Anne Capo ,
Jamie Lynn Walter,
Lori Shell,
Mike Knauss
These sessions will be more interactive than a traditional breakout panel discussion. The sessions start with a 25-minute panel discussion and will be followed by a 40-minute interactive peer-to-peer workshop. At the end of the workshop, group leaders will come back to the panel table to present key takeaways from each small group.
- How to ensure you’re prepared for examination. Focus areas include:
- required records versus records that facilitate an SEC exam
- marketing practices
- conflicts of interest
- operational resiliency
- emerging financial technology
- Tips for success throughout the examination
- Exit interviews with examiners
- Remediating any issues identified and ensuring that improvements are put into practice
Moderator:
Jamie Lynn Walter, Partner, Latham & Watkins
Panelists:
Ashleigh Brogan, Chief Compliance Officer, Declaration Partners
Mary Anne Capo, Chief Financial Officer & Chief Compliance Officer, Capstreet
Lori Shell, Chief Financial Officer/Chief Compliance Officer, Frontier Growth
Mike Knauss, Managing Director, Legal & Compliance, Chief Compliance Officer – Infrastructure, Blackstone
Mike Knauss
Managing Director, Legal & Compliance, Chief Compliance Officer – Infrastructure, Blackstone
Read bio
Networking lunch
13:30 - 14:30
Luncheon and end of conference
Pre-Event Resources
Lead the discussion in 2025
Participating firms in 2024:
- Audax Management Company
- General Atlantic
- KKR
- LongRange Capital
- And more…
Have a topic you would like to discuss at this year’s forum? Contact Kellie Green at kellie.g@pei.group to discuss speaking opportunities.
Teresa Bernstein
Chief Operating Officer, General Counsel, and Chief Compliance Officer, ACON Investments
Andrew Dean
Co-Chief Asset Management Unit, Division of Enforcement, U.S. Securities and Exchange Commission
Tamar Goldstein
General Counsel & Chief Compliance Officer, Kimmeridge Energy Management Company, LLC
John Jacobs
Managing Director, Chief Compliance Officer and Deputy General Counsel, Gryphon Investors
Mike Knauss
Managing Director, Legal & Compliance, Chief Compliance Officer – Infrastructure, Blackstone
Michael J. Osnato Jr.
Partner and Head of Funds Regulatory and Investigations Group, Simpson Thacher & Bartlett LLP
Kelly Pettit
Managing Director, Chief Compliance Officer, Associate General Counsel, General Atlantic
Jamie Toothman
Chief Operating Officer, General Counsel, Chief Compliance Officer, and Partner, Harvest Partners
Connect with a community of CFOs, COOs and senior finance executives
The Private Fund Compliance Regulatory Forum offers a unique opportunity for providers to engage and connect with senior compliance professionals in the private equity sector through thought leadership, networking, and more.
For exclusive sponsorship packages for 2025, contact Josh Stoller at joshua.s@pei.group or call +1 646 970 3923.
2024 Sponsors
Venue
Traveling from out of town and need a place to stay? Check out some of the hotels near the venue here.
Make essential connections
Be a part of the largest gathering of compliance leaders in the industry. Over two days you’ll build up your book of contacts while discussing solutions to shared challenges with this expansive community.
Sessions promoting collaboration
Breakfast meetings and think tanks
Cover critical issues and exchange solutions on curated topics with your peers at our breakfast meetings and GP-only think tanks.
Networking breaks
Catch up with your peers to build your network and discuss session takeaways during the many designated networking breaks.
Workshops
More hands-on than a traditional panel, our workshops start with a 25 minute discussion followed by a 40 minute peer-to-peer workshop.
Participants at a glance
“Event was a great opportunity to hear from three important constituents: SEC staff, industry advisors, and peers in the trenches who deal with the same challenges I deal with.
“
Daniel Gewanter, Kohlberg & Co
“Great networking opportunities, interesting topics, and fabulous guest speakers.
“
Alexandra Maisel, Sun Capital Partners
Attendees included:
Thanks for your interest
Thank you for your interest in this year’s Private Fund Compliance Regulatory Forum. Your requested resource will be emailed to you shortly.
Explore our event website for more information and be sure to secure your place when ready. We hope to see you at the forum this May in Washington, D.C.
Hear straight from the SEC
Join the SEC in two keynote sessions as they uncover their 2025 exam priorities and how to be proactive in your exam prep, recent enforcement actions, how to avoid a referral, and much more.
Stay caught up on new compliance regulations
Hear from your peers as they discuss how their firm is staying compliant with new SEC rules and regulations. Create a plan to navigate new private fund rules, the restricted activities rule, quarterly reporting, the marketing rule, and more.
Build your network of compliance experts
Meet with the largest gathering of compliance experts at this year’s forum. Make this your annual stop as you return to the office with a fresh outlook and enhanced network of likeminded peers as you navigate new regulations together.
