Orical Florio Leahy featured on Reliants Emerging Manager Monthly

Orical LLC is pleased to share the replay of a recent fireside chat hosted by Reliant Fund Services as part of its Emerging Manager Platform series. The discussion featured Vanessa Sasson in conversation with Eric Schultz of Reliant.

The session provided a practical, regulator-focused overview of the full lifecycle of an emerging manager — from launching an initial SPV to preparing for institutional-grade investors — with particular emphasis on the legal and compliance milestones that shape each stage of growth.

Key topics included:

• When state vs. SEC registration becomes required, and how managers should navigate the interplay between federal exemptions, state rules, and institutional expectations.
• How RAUM is calculated in practice, including the impact of gross asset values, SPVs, co-invest structures, and valuation increases on the $100MM federal registration threshold.
• Regulatory touchpoints that arise early, such as marketing practices, performance presentations, Form D and Blue Sky filings, political-contribution rules, and MNPI controls.
• Operational and compliance infrastructure that emerging managers should establish early to stay exempt where appropriate — or to prepare for a clean, well-structured transition into SEC registration when the time comes.
• Exam readiness for new registrants and the areas the SEC tends to focus on during early reviews.

The discussion offered clear, actionable guidance for managers planning their first pooled vehicle, approaching registration thresholds, or preparing for greater institutional scrutiny. It reflects the practical perspective Orical brings to emerging managers navigating an increasingly complex regulatory landscape.

Event Video