May 2011 Issue


    Month: May
    Year: 2011

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    AIFM still set to hamper secondary trading

    Placement agents or GPs selling LPs’ fund stakes on their behalf may need to split the offer between AIFM-compliant and non-compliant funds.

    PE giants sign on to ILPA principles

    Pantheon, Apax, Oaktree, First Reserve, Warburg Pincus, Hellman & Friedman and Adveq are the latest firms to endorse the best practices guidelines put forth by the Institutional Limited Partners Association.

    Study: India offers sweetest terms

    Indian fund managers offer  'preferential fees' for some LPs, according to a study from Squadron Capital.

    BVCA: firms not overvaluing assets

    Contrary to critics’ claims that private equity houses mislead investors by overvaluing their assets, GPs are if anything ‘too conservative’, according to research from trade body the BVCA.

    VC funds may get EU ‘passport’

    The proposed directive would allow venture capital funds in the European Union to invest in other EU member states.

    Hevesi gets jail time in NY pay-to-play scandal

    Former New York state comptroller Alan Hevesi was sentenced to up to four years in prison for his involvement in New York’s massive pension pay-to-play scandal that rocked the private equity world and tarnished the image of placement agents

    Jersey set to qualify for AIFM passport by 2013

    The offshore island is set to meet the directive’s requirements for an EU-wide fund marketing “passport” by 2013.  

    India’s tax code change-up

    A reworking of the country’s domestic tax system could lead to a 30 percent tax on carried interest. Shefali Goradia, partner at Indian tax advisory firm BMR Advisors spoke to PEM about the risks facing foreign investors, local managers and Mauritius-domiciled funds.

    CalSTRS reviews cost of external managers

    The $150bn pension will consider more opportunities for internal management of investment assets as it looks for ways to cut costs.

    India: independent regulation called for

    At a recent Infrastructure Investor roundtable discussion in New Delhi, talk revolved around the issue of whether the introduction of independent industry regulators would help expedite infrastructure processes better, as well as make them fairer.