According to the Small Business Administration, SBICs can invest up to $4 billion annually. These privately-owned and managed investment funds are subject to unique audit standards and accounting and valuation practices. Whether your SBIC fund is newly formed or mature, CohnReznick's SBIC team collaborates with fund managers and administrators to address time-sensitive reporting and compliance obligations. We also implement processes to strengthen investor relationships and deliver industry-specific tax consulting, valuation, transaction, and advisory services.
DEDICATED TEAM AND SERVICE DELIVERY MODEL
To optimize efficiency regardless of your location, our SBIC practice consists of dedicated SBIC audit, tax, and valuation professionals centrally located in our Hartford office. Teams members work collaboratively in serving our clients, are highly experienced in the SBIC program, and have attended the SBIC Regulations Class held by the SBA and the Small Business Investor Alliance (SBIA).
PRIVATE EQUITY INDUSTRY EXPERTISE
As a specialized group working within our national Private Equity and Financial Services Industry Practice, our SBIC team taps into CohnReznick's broader private equity knowledge in supporting the growth objectives of SBIC clients. Our SBIC professionals have a solid understanding of the private equity business model and in addressing the tax and fund compliance issues that occur in a highly regulated industry.
COMMITTED TO THE SBIC COMMUNITY
- Co-sponsored events. We work closely with the Capital Roundtable, serving as sponsors, panelists, and presenters at their “Best Practices for Launching and Managing an SBIC” event.
- Proprietary SBIC Insight Series. Our SBIC team provides industry-leading intelligence to fund managers. Participants learn about recent trends and changes in the SBIC community and within the SBA and about strategies for licensing and operating a successful SBIC fund.
- Industry association leadership. CohnReznick is a dedicated supporter and platinum sponsor of the Small Business Investor Alliance (SBIA). Our team routinely attends all regional and national conferences.
- Hosted forum. CohnReznick’s Annual Liquidity and Capital Raising Forum provides a platform for investors and business executives to discuss market factors and economic conditions impacting M&A activity, financing, and liquidity.
SBIC FUND COMPLIANCE
Adherence to strict SBIC accounting policies and SBA regulatory compliance procedures is our mandate. With the end goal of meeting your fund's compliance requirements through our delivery of on-time reporting packages to investors, we conduct thorough audits of SBA Form 468 and GAAP financial statements. CohnReznick also offers training and educational programs for SBIC fund managers that include working with SBA reporting software and SBIC-specific regulatory, tax, and valuation issues.
Strategic Tax Issues for Capital Markets
InsightPRIVATE EQUITY: 10 cybersecurity best practices for private equity firms in a COVID-19 worldShahryar ShaghaghiCybercriminals have been taking advantage of coronavirus-related disruption, and PE firms are an attractive target. Here’s how to protect your business.
InsightCayman Islands passes legislation making registration mandatory for most open-ended and close-ended fundsRaza AshfaqTwo new laws make it mandatory for mutual and private funds domiciled in the Cayman Islands to register with CIMA, including some that were previously exempt.
InsightInterest expense limitations to trigger changes in financing private equity dealsIn an article for Bloomberg Tax, CohnReznick’s Jeremy Swan discusses how private equity firms can address new business interest expense limitations under IRC Section 163(j).