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CFIUS Considerations for Real Estate Funds


Speaker(s): Eric Requenez, Tatiana O. Sullivan
Recorded on: Jul. 23, 2020
PLI Program #: 303664

Eric Requenez is a partner in the Private Funds and Asset Management group where he represents fund sponsors, distributors  and investors in connection with the formation, structuring and capitalization of private investment funds  as well as other securities offerings, regulatory and compliance matters, transactions and other corporate matters.

Eric focuses on advising fund sponsors and placement agents in the structuring, negotiation and capitalization of U.S. and non-U.S. private funds, including private equity funds, real estate funds, credit funds and energy and infrastructure funds. Eric has significant experience representing sponsors in the formation of open-ended real estate, infrastructure and other illiquid asset funds.  He also advises clients on the formation of related advisory and management entities.

Eric also has advised clients in the development, structuring, operation and regulation of closed-end funds, business development companies and mutual funds and works with sponsors who seek to tap into both the institutional and retail markets.

In addition, Eric counsels investment advisers in transactional, regulatory and compliance related to the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Securities Act of 1933, the Securities Exchange Act of 1934 and the Volcker Rule.

Eric serves on Law360’s 2020 Editorial Advisory Board for Private Equity. He also is a frequent contributor to Private Equity Law Report.


As the Department of Defense (DoD) lead for Foreign Investment Review Modernization Act (FIRRMA) negotiations and regulatory implementation, Tatiana was responsible for developing DoD recommendations relating to foreign acquisitions of U.S. businesses before the Committee on Foreign Investment in the U.S. (CFIUS). She conducted numerous, substantive evaluations of CFIUS transactions to identify critical technologies, supply chain, co-location and product integrity risks while engaging with stakeholders, the intelligence community and the private sector.

Tatiana crafted mitigation strategies to resolve national security risks including working closely with the authorities related to Export Administration Regulations (EAR), International Traffic in Arms Regulations (ITAR), International Emergence Economic Powers Act (IEEPA), as well as negotiating CFIUS national security agreements. Under the Defense Technology Security Administration (DTSA), she represented DoD at the Operating Committee and prepared senior leadership positions on licensing matters before the Advisory Committee on Export Policy (ACEP). Tatiana also served as primary support for a myriad of national security compliance programs.

Tatiana’s experience and insight into federal regulation and enforcement matters allows her to provide unique counsel and practical solutions to clients’ legal challenges. Her focus on national security reviews of foreign investments, U.S. technology transfer and export control policy allows her to bring creative and cost-effective solutions to regulatory issues involved in international business transactions.

* Admitted only in New York and supervised by principals of the Firm