Regulation
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...
EU proposes venture capital-friendly fundraising rules
New EU Action Plan proposes to increase funding of SMEs with the help of venture capital funds.
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
Industry comments on ESMA's AIFMD advice
European regulator ESMA has published its final technical advice to the European Commission on the AIFMD's Level 2 implementing measures.
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...
Nordic Capital wins tax case
The tax board has rejected the claims of the tax agency regarding Nordic Capital’s taxing of profit sharing between 2006 and 2007.
AIFMD passes final vote
The controversial AIFM Directive was adopted in a plenary vote of the European Parliament today.
Swedish PE-firms facing tax investigation
Skatteverket, the Swedish Tax Office, has launched an investigation into the declaration of tax by eight of the largest Swedish private equity firms, according to reports.
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...