2 The BEA defines a "holding company" as a business enterprise that is classified under ISI Code 5512 "non-bank holding companies" which is a business primarily engaged (50 percent or more of its total income) in holding the securities or financial assets of companies and enterprises (except for banking) for the purpose of owning a controlling interest in them or influencing their management decisions, but that does not manage the day-to-day operations of the companies or enterprises it holds. The BEA states on its website that it defines "private funds" in the same manner as the Securities and Exchange Commission - "any issuer that would be an investment company as defined in section 3 of the Investment Company Act of 1940 but for section 3(c)(1) or 3(c)(7) of . . [that] Act."
|Laurin Blumenthal Kleiman
+1 212 839 5525
|Kara J. Brown
+1 617 223 0372
|Jonathan B. Miller
+1 212 839 5385
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