Notes from the research desk.
Plain-language research on deals, capital and the markets underneath them, from the Platinum Partnership's editorial team. Written for operators. Never advice.
Latest notes
How Sponsors Actually Pick Their LPs
If you're an LP, the relationship runs both ways. Most LPs don't realize they're being chosen.The 506(b) vs. 506(c) Distinction Operators Should Know
Two exemptions, one structural divide — and the wrong choice quietly limits who can find your deal.Qualified Purchaser vs. Accredited: What the Higher Bar Buys
Clearing the accredited bar gets you in the door. Clearing the QP bar gets you into a different building entirely.Self-Directed IRAs and Private Investing
Most operators know SDIRAs exist. Few understand what actually breaks them.Knowledgeable Employee Exemption
The SEC's carve-out for fund insiders runs deeper than most operators realize — and the qualification criteria matter more than ever.Form D Filings: What You Can Learn From Them
The SEC's public fundraising record is hiding in plain sight — here's how to read it.State Blue Sky Compliance: The Layer Founders Miss
Federal exemptions do not pre-empt state law — and the gap is where most early-stage raises quietly break.Solicitation Rules Under 506(c)
The 2012 JOBS Act unlocked public marketing for private deals — the tradeoff is a verification burden most sponsors still underestimate.Tiered Pricing in Private Offerings
Not every investor enters the same deal at the same price — and understanding why reveals more about capital structure than most term sheets will tell you.
One question per note, worked through plainly.
Each note takes one thing an operator or investor actually runs into, a deal mechanic, a rule, a shift in a market, and works through it without jargon or hype.
The notes are published by Platinum Research, the editorial desk of the Platinum Partnership, and grouped by topic so you can follow one thread.
These notes are education, not advice
They express general market views and educational commentary. They are not financial, investment, legal, tax or accounting advice, not a recommendation to buy, sell or hold anything, and not personalized to your circumstances. Markets are uncertain and capital can be lost in part or in whole. Speak with your own licensed professionals before acting on anything here.
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