Category Archives: Private Equity

Philadelphia-based private equity firm fined for Pay-to-Play

The Securities and Exchange Commission (“SEC”) has brought its first case against a private equity firm for pay-to-play violations involving political campaign contributions to the governor of Pennsylvania and the candidate for Mayor of Philadelphia. The SEC also found that the firm, TL Ventures Inc. (“TL Ventures”) and an affiliated advisor, Penn Mezzanine Partners Management, LP, acted improperly as unregistered investment advisers.  TL Ventures neither admitted nor denied the charges but has agreed to pay almost $300,000 to settle the charges.

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Filed under Investment Advisers, Private Equity, SEC