The commission's new rules are softer than the original proposal, but still impose rigid disclosures on exempt advisers.
The deal also marked the exit of Lee Equity Partners, which acquired Cadent in 2013.
'All-in-all, for those with dry powder, we believe it is an excellent time to be deploying middle market private capital.'
The legal sector is 'really behind on technology and historically been a slow technology adopter,' said RF Investment Partners' Jacob Gordon.
The market for GP-led deals like single asset continuation funds continues to remain muted amid a gap between buyer and seller expectations.
'We can acquire companies that may be small, but they are still going to be a market leader in the specific niche application that they serve,' said KKR's Brandon Brahm.
In the tighter M&A markets burdened by more expensive debt, GPs are having to find creative ways to build platforms with an eye toward cost.
'For our acquisition of Cvent, we used the market dislocation in the SPAC market to source one of the lowest revenue multiple, high growth software deals in recent years.'
Brookfield, Serent Capital, Braemont Capital and Madison Dearborn are some of the firms finding opportunities in insurance.
'It is not doom and gloom, but I don't see a roaring comeback either,' says Ewen.