MFA

Mark your calendars! MFA and iConnections will be co-hosting the world's largest conference for the alternative asset management industry from January 27-30, 2025 in Miami, Florida.   Global Alts '25 will convene over 6,000 attendees and feature nearly 200 speakers. This conference is set to be the premier event for the alternative asset management industry, offering authoritative content, networking opportunities, and a chance to connect with leading fund managers and allocators.   Stay tuned for more updates! MFA and iConnections look forward to welcoming you to Global Alts ‘25 next year. #GlobalAlts25

MFA President and CEO, Bryan Corbett, spoke with Hedge Fund Alert about MFA’s approach to advocacy post-Gensler. Top takeaway from Corbett—“We think there is a big moment here to pivot.” MFA is encouraging incoming policymakers to extend unnecessarily harried compliance deadlines, promote pro-growth tax policies, and undertake a holistic review of the Gensler era rules—many of which conflict with each other.   For more insights into how MFA is shaping the future of alternative asset management read the article in Hedge Fund Alert: https://lnkd.in/edDmv79j

MFA issued the following statement from Jillien Flores, Head of Global Government Affairs, in response to the Financial Stability Board (FSB) report on the use of leverage by nonbank financial intermediaries. Read more: https://lnkd.in/e_kXEE_x

Thank you to Christian L. Tom, Assistant to the President and Director of the White House Office of Digital Strategy, for hosting the National Digital Roundtable at the White House on Friday. The roundtable discussion provided a platform for marketing and communications leaders to discuss how the White House’s digital team leveraged digital communications strategies to shape the conversation in Washington and across the country. Grateful for the chance to participate in an insightful conversation led by Anthony Shop as we wrap up the year.

MFA requested the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) extend the compliance deadline for the amended Form PF requirements by six months in a letter submitted today. A six-month extension would mitigate significant compliance challenges for managers and enhance the quality and consistency of the data provided to regulators. Read more: https://lnkd.in/gZ-JzpR8

Everything is opaque when you’re wearing a blindfold. Critics of private credit often misleadingly claim the industry’s "opacity" leaves regulators blind to risks. In an op-ed for American Banker, I highlight how private credit funds provide robust data to state and federal regulators, ensuring transparency and oversight. Private credit direct lending provides nearly $2 trillion in capital to businesses of all sizes, driving economic growth, creating jobs and fueling innovation. Credit funds don’t pose a systemic risk, in fact they enhance financial stability. Policymakers should leverage the detailed data at their disposal rather than let misconceptions drive harmful policies. Read the full op-ed: https://lnkd.in/eqXRKkVs

MFA President and CEO, Bryan Corbett, debunks the myth that private credit is opaque in an op-ed in American Banker. Corbett highlights how private credit funds provide extensive data to regulators at both state and federal levels, offering transparency that supports oversight and financial stability.   Private credit provides nearly $2 trillion to U.S. businesses, driving innovation, creating jobs, and strengthening the economy. Private credit direct lending reduce systemic risk by deploying capital committed by sophisticated, institutional long-term investor without a government backstop. Policymakers should leverage the robust data already available to them rather than allowing misconceptions to drive policy decisions that could harm this vital industry.   Read the full op-ed: https://lnkd.in/evugQaUt  

Today, I participated in the CFTC Market Risk Advisory Committee vote on recommendations regarding the Treasury Cash-Futures Basis Trade and Effective Risk Management Practices. This initiative examined and demystified the Treasury basis trade. Treasury markets are dynamic and it’s important that there continues to be an abundant and diverse number of participants. Firms engaged in the basis trade, including hedge funds, provide a number of benefits, including:  - Greater market depth, liquidity, and price efficiency - Lower funding costs for the federal government - Improved portfolio optimization and capital formation The white paper, along with today's discussions, clarified the role of market participants in Treasury markets, the rationale for using Treasury futures, and the challenges associated with measuring leverage. Next policymakers should address issues with the mandatory Treasury clearing rules. MFA supports greater clearing. However, the SEC has not provided sufficient time for the implementation of of this critical rulemaking and issues pertaining to processes, contractual agreements, and infrastructure are unresolved-- jeopardizing the resiliency of the Treasury markets. This rushed timeline for clearing requirements creates unnecessary systemic risk.

Really enjoyed spending last week in the United Arab Emirates representing MFA. Jillien Flores and I had the opportunity to spend time with the growing number of members active in the region, as well as talk with senior regulators from both the Dubai Financial Services Authority and the Abu Dhabi Global Market’s FSRA about current priorities for alternative asset managers. Finishing the week at the Milken Institute’s Middle East and Africa Summit meant we had the bonus of hearing First Lady Jill Biden speak so passionately about the need for more focus on women’s health research. Looking forward to returning to Abu Dhabi and Dubai in 2025!

Oklahoma’s pensions, nonprofits, and institutions like the The University of Tulsa Endowment have invested $7.8 billion in hedge funds—a 55% increase since 2020. These investments help create opportunities for communities across the Sooner State. Learn more: https://lnkd.in/ep6eXpH4