Re:Private equity groups that buy companies they own
by collegeburner on Thursday June 23, 2022 @09:05AM
(#31848493)
Lmao true for some of the AM guys I've met. But no it's an SEC designation of having a lot of money (so you aren't broke if you lose it) or proven knowledge (new rule so finance professionals who theoretically know what they're doing can invest).
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Re:Private equity groups that buy companies they own
by nradov on Thursday June 23, 2022 @10:22AM
(#31849514)
A friend of mine also became an "accredited" investor through the simple expedient of lying on the form. Many financial services companies don't bother to verify investor income and assets.
Re:Private equity groups that buy companies they own
by collegeburner on Thursday June 23, 2022 @11:55AM
(#31850908)
It's not a matter of bothering, the ones that don't do general solicitation or are less than $150mm AUM don't have to actually verify. Which is good because LPs get mad when you ask them for tax returns.