February 2012 Issue


    Month: February
    Year: 2012

    Back to Print Editions

    Brazil scraps tax on foreign PE investment

    Latin America’s largest economy has for this second time this year slashed taxes on foreign investment in local private equity funds.

    Court case underscores FCPA compliance risks

    Private equity firms should heed a recent US court case ruling that 'conscious avoidance' of bribery can still result in charges under the Foreign Corrupt Practices Act.

    Legal manoeuvres: PE lawyers’ latest moves

    Dechert has poached talent from Mayer Brown as part of a new office opening in Germany, and Proskauer continues to bulk up its London funds practice as law firms continue to battle for talent and remain ahead of the competition.

    Volcker's next steps?

    Following a plea from legislators, US regulators have pushed back the comment period on the closely watched Volcker Rule. The move could spell trouble for banks who still face a July compliance deadline.

    HarbourVest poaches 3i veteran for COO role

    In addition to a round of New Year promotions, HarbourVest Partners has appointed former 3i executive Stuart Howard as chief operating officer within its European listed products division.

    Q&A: Why MiFID matters

    We ask Clifford Chance partner Simon Crown what impact the EU’s (soon to be revised) Markets in Financial Instruments Directive could have on private equity fund managers.

    Analysis: Valuing fund interests

    When selling fund interests in the secondaries market, buyers and sellers too often work from a different set of assumptions.

    Reporting: In search of the holy grail

    Both LPs and GPs have something to complain about when it comes to reporting practices – yet not everyone is wholeheartedly applauding the standardisation measures emerging.

    Feature: Asia fine-tunes the rulebook

    Domestic fundraising in China and India is increasingly on the radar of regulators.

    Private equity's secret performance history

    With capital under management globally approaching $3 trillion, private equity is an asset class badly in need of unimpeachable measurement standards.

    Luxury fund on offer, zero percent down!

    The SEC is sensibly looking to relax rules on general solicitation, but if fund managers are to begin broadcasting fundraising efforts more openly, it may require an act from Congress.

    LPs feel the heat too

    In Europe, pensions will join insurers and banks in needing to set aside sufficient emergency capital for assets deemed risky – yet another regulatory-inspired roadblock for GPs on a crowded fundraising trail.

    Texas ties the knot

    An innovative partnership between KKR, Apollo and a major US pension offers a sneak peek at the future

    US primaries put heat on private equity

    Mitt Romney's rivals for the Republican nomination for the US presidential race are ramping up attacks on his past, causing some LPs and GPs to worry about industry-wide ramifications.