Impact of FIRRMA on Private Equity Funds: Expanded CFIUS Review of Foreign Investments, Filing Requirements
Structuring Investments to Minimize CFIUS Risk
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will examine the impact of the Foreign Investment Risk Review Modernization Act (FIRRMA) on private investment funds. The panel will discuss the regulatory hurdles and filing requirements associated with CFIUS review, and how best to structure foreign investments in private equity and other investment funds to minimize CFIUS risk.
- CFIUS: authority before recent reform; M&A review
- FIRRMA: policy concerns with other types of foreign investment
- Expanded CFIUS authority
- Non-controlling investments in companies involved in critical technology, critical infrastructure, and sensitive personal data
- Deals involving real estate close to sensitive U.S. government facilities and air or seaports
- Changes in investor rights that would result in control of a U.S. business or a covered non-controlling investment
- Transactions intended to evade or circumvent
- Carve-outs for investment funds
- Mandatory and voluntary declarations
- Other significant changes
The panel will review these and other high-priority issues:
- How does FIRRMA expand CFIUS' authority to review foreign investment in the United States?
- What types of investments are of most concern to CFIUS under the new regime?
- How should investment funds respond to this new law?
Christian C. Davis
Akin Gump Strauss Hauer & Feld
Mr. Davis’ practice focuses on U.S. law and policy affecting international trade and business. He advises clients... | Read More
Mr. Davis’ practice focuses on U.S. law and policy affecting international trade and business. He advises clients on foreign investment, export controls, sanctions, anticorruption, and customs laws. Mr. Davis’ practice focuses on representing clients in the merger, acquisition and divestiture process before the CFIUS and on accounting for associated risks. He also advises clients in negotiating and implementing CFIUS mitigation agreements, developing and administering international trade compliance programs .and conducting internal investigations.Close
Lucille (Luci) Hague
Kirkland & Ellis
Ms. Hague advises clients on complex cross-border transactional and counseling matters that touch U.S. national... | Read More
Ms. Hague advises clients on complex cross-border transactional and counseling matters that touch U.S. national security and foreign investment, including reviews by the Committee on Foreign Investment in the United States (CFIUS), economic sanctions administered by Treasury’s Office of Foreign Assets Control (OFAC), export controls (ITAR/EAR), antiboycott regulations, anti-money laundering laws and regulations (FinCEN), and anti-corruption (FCPA).Close
Chase D. Kaniecki
Cleary Gottlieb Steen & Hamilton
Mr. Kaniecki’s practice focuses on international trade and national security matters, including CFIUS, economic... | Read More
Mr. Kaniecki’s practice focuses on international trade and national security matters, including CFIUS, economic sanctions, export controls, customs, and trade remedies. He advises clients on international trade and national security issues and foreign direct investment matters, including filing CFIUS notices and negotiating mitigation agreements in the energy, semiconductor, telecommunications, aerospace and defense, and transportation sectors, among others.Close
Mario Mancuso, P.C.
Kirkland & Ellis
Mr. Mancuso leads the firm’s International Trade and National Security Practice. A former senior member of the... | Read More
Mr. Mancuso leads the firm’s International Trade and National Security Practice. A former senior member of the President’s national security team, he provides strategic and legal advice to companies, private equity sponsors, and financial institutions operating or investing across international borders. Mr.Mancuso is a leading advisor on matters involving the Committee on Foreign Investment (CFIUS), economic sanctions (OFAC), export controls (ITAR, EAR), and the Foreign Corrupt Practices Act (FCPA), earning praise from boards, CEOs and senior executives for his holistic and "very strategic" approach.Close