Private Equity Law Report Quotes Steven Richman Extensively on Retailization’s Impact on Institutional Investors

Private Equity Law Report featured Steven Richman, chair of Seyfarth’s Institutional Investor practice, in its January 22 article, “Specific Concerns About How Retailization Could Impact Institutional Investors’ Interests.” The piece examines how the growing influx of retail capital may affect fund liquidity, governance rights, and co‑investment allocations.

Richman highlighted the structural tensions created by retail investors’ redemption expectations, noting: “Whenever there is a blip in the economy, the fear is that retail investors — no matter how many times you tell them otherwise or what the private placement memorandum says — will expect that their investment is liquid and that they can get their money back by submitting a redemption request.”

The full article is available here.