Jennifer Harris
Two US economists have released a thought piece making the case for repealing FIRPTA, citing potential benefits to the commercial real estate market, productivity gains for commercial real estate-related businesses and increased funding for the US current-account deficit.
Globalisation, financial regulatory trends and increasing investor demand for transparency have made financial communications more important than ever. Riverside-backed company King Worldwide is looking to take advantage of these trends, and bring consolidation and growth to the industry.
Kansas securities regulators have accused Wichita, Kansas-based Lion Share Capital of improperly collecting and keeping sham fees.
Two members of the Boston firm’s back office team – Mary Traer and Karin Lagerlund – have been promoted and given managing director titles.
Draft legislation, which would require all private equity, private equity real estate and hedge fund managers with more than $150m in assets to register with the SEC, must now face a test in the Senate.
US House Ways and Means Committee chairman Charles Rangel has introduced the Tax Extenders Act of 2009, which would tax carried interest as ordinary income rather than capital gains. Similar tax plans have come up short in the Senate.
House Ways and Means Committee chairman Charles Rangel today introduced the Tax Extenders Act of 2009, which would tax carried interest as ordinary income rather than capital gains. Similar tax increase proposals have previously come up short in the Senate.
Last week the FBI raided the offices of Obsidian Enterprises in connection with a civil lawsuit filed against its CEO, Timothy Durham. The lawsuit suggested financial services firms owned by Durham defrauded investors in order to finance a Ponzi scheme.
The deal is the latest of several mergers among private equity and hedge fund service providers.
A recent survey shows that with more LPs deciding not to re-up with existing managers, GPs will need to take concerns over terms and conditions – including the new guidelines by ILPA – more seriously.