KirklandPEN Kirkland & Ellis LLP

Private Equity Newsletter — January 9, 2007

This issue includes the article “SEC Proposes Stricter Accredited Investor Test for Private Equity, Hedge and Certain Other Funds,” which reports that the SEC proposes to narrow the class of individual investors who would be permitted to invest in many private funds. Also featured is “Changes in Luxembourg Corporate Law: Impact on Private Equity Investors in Europe,” which discusses how Luxembourg now permits commonly used legal entities to implement a two-tier board structure.