Analysis/Regulation
EU to boost Social Entrepreneurship Funds
The European Commission has proposed an initiative to stimulate and stabilise investments in social businesses across the EU, in order to drive sustainable economic growth. Anneken Tappe reports
Revision of pension funds directive threatens PE industry
Proposed changes to the regulatory requirements of European pension funds could lead to a loss of more than a third of investments in funds, leaving the private equity industry wary. Anneken Tappe reports
French LBOs: foreign buyers beware?
France’s latest Loi de Finances (the national budget voted in parliament) introduces stricter rules regarding fiscal integration and the tax deductibility mechanism on financial charges. This could spell bad news for foreign LBO funds looking to acquire...
BVCA: AIFMD “still damaging”
The BVCA foresees new regulations dawning on the financial services sector will have substantial negative effects on private equity if policy effectiveness is not guaranteed. Anneken Tappe reports
Dutch PE industry embraces regulation
While regulation is the bane of private equity associations across the continent, the Dutch industry extends a warmer welcome than most. Anneken Tappe reports
AIFMD: High price for investor security?
The AIFM Directive continues to spark debate amongst industry practitioners, even as it is being implemented across Europe. While the new regulations will lower risk levels for smaller investors, GPs are concerned about a possible cost explosion. Diana...
Buyout firms get to grips with pension risks
Pension liabilities are of increasing concern to buyout practitioners, who need to mitigate risks and ensure they can reach agreement with stakeholders.
Buyout firms get to grips with pension risks
Pension liabilities are of increasing concern to buyout practitioners, who need to mitigate risks and ensure they can reach agreement with stakeholders.
Miliband launches fresh attack on private equity
The private equity industry has once again come under fire from Britain’s politicians, accused of asset stripping by Labour leader Ed Miliband.
unquote” summit: 75% of historical LP base impacted by regulation
Greg Gille reports direct from unquote's 20th anniversary private equity summit in London.
LPs welcome Dodd-Frank but GPs worried
It may be more cumbersome regulation which will see scores of PE firms tightening their compliance regimes over the coming weeks, but a raft of LPs are embracing the introduction of the Dodd-Frank Act. Susannah Birkwood reports
Moulton: Industry mergers to create fewer, larger players
A tumultuous few years as well as increased legislation will lead to the consolidation of the industry into a smaller number of larger buyout houses via mergers. Unquote’s Kimberly Romaine talks to Jon Moulton, Chairman of Better Capital.
A third of deals in doubt from September
Recent changes to the Takeover Code would have impacted 32% of UK deals since 2005. But if properly considered, P2Ps will still be do-able. Kimberly Romaine reports.
FATCA - An uneven playing field
Despite being an American law which doesn’t come into force until 2013, the Foreign Account Tax Compliance Act must be dealt with immediately by all international GPs which have US portfolio companies. Susannah Birkwood reports
AIFMD – Parallel LP funds and the importance of PR
Susannah Birkwood speaks to HarbourVest's Amanda McCrystal and EVCA's new chairman, Karsten Langer, in Barcelona, about the implications of the AIFMD on the private equity industry.
Guernsey and the AIFMD: Directing the Directive
Having set so much in motion already, Guernsey's optimism over meeting the first deadline for private placement regimes (to continue marketing across European jurisdictions up until 2015) seems well-founded. But what about the next stage - the all-important...
PE "at a disadvantage" – Takeover Panel
Speaking on behalf of the BVCA, CEO Mark Florman said: “The proposed change to the Takeover Code of a 28-day ‘put up or shut up’ limit creates a new, un-level playing field between cash-rich coporates and private equity firms, which must secure...
Takeover Code: To bid or not to bid?
Proposed changes to the UK Takeover Code, aimed at giving companies better protection from hostile bids, look set to be adopted. If approved, the changes could have a severe impact on the private equity community, possibly ruling them out from public...
Private Equity: if it isn’t broken...
Speaking in front of a student audience at the London School of Economics on Wednesday, Blackstone president and COO Tony James addressed the potential need for further regulation of the industry. Greg Gille reports
FSA clamps down on corruption in private equity
Private equity firms could soon find themselves criminally liable. Once the UK Bribery Act comes into effect in April, the FSA and other regulators will be clamping down on corporate hospitality, corrupt payments and any other behaviour they deem suspicious...
AIFM: The end of a long road
With today’s news that European Parliament negotiators have agreed on the final text of the Alternative Investment Fund Manager’s Directive (AIFM), the private equity industry can look forward to greater certainty about the regulatory environment...
French venture: Retail funds under threat
France’s FCPI and FIP funds, two tax-efficient retail vehicles created to promote venture investments, are currently being overhauled by the legislator. While the proposed 2011 budget grants them a new lease of life, a number of changes are bound to...
Basel III: Capital requirements and the cost of leverage
The Basel III banking regulations took a major step forward over the weekend when central bankers agreed on the latest set of rules to prevent future financial crises. Higher capital requirements for banks have hit the headlines, but what effect will...
New compromise suggested on AIFM Directive
As Europe’s politicians return from the summer recess, negotiations over the final shape of the Alternative Investment Fund Managers’ (AIFM) Directive have resumed. A revised compromise on the Directive, issued by the new Belgian presidency, will...