Is it time for private equity real estate firms operating in the UK to go on the PR offensive, asks Robin Marriott.
An early version of the Senate’s financial reform legislation exempts private equity from registration as an investment adviser – a carve-out which could save firms hundreds of thousands of dollars.
A side-by-side comparison of the House and Senate draft legislation for the regulation of US private investment funds, by Nathan Greene and Jesse Kanach of law firm Shearman & Sterling.
Despite 3i’s reduced debt levels and £2bn in dry powder, the market is showing concern that the value of its portfolio has not grown in line with markets in the last six months.
Following a nine-month investigation, the bank reportedly has told investors that possible violations were centred on the “conduct of a single former employee” in Shanghai, according to Reuters. There was no evidence Kalsi “caused or authorised” the alleged misuse of assets, his spokesperson told PERE. Morgan Stanley could not confirm the statement.
Allan Moss will advise the Sydney-based special situations private equity firm.
Representatives from the £13 billion Wellcome Trust and the UK Financial Services Authority testified before the UK House of Lords Tuesday about the potentially painful impacts from EU fund manager regulations, including loss of access to funds and marketing restrictions. House members said they would address such concerns in upcoming meetings with the European Commission.
Four Nixon Peabody partners, including the chair of its private equity practice, and four associates will join Winston & Strawn’s New York office.
An SEC complaint today claimed Chen Tang, at the San Francisco buyout firm for just six months, tipped off a broad network of family members about impending deals. The CFO of ValueAct Capital has also been named in the complaint.
The CIO of the £13bn Wellcome Trust will advise the UK government on the ‘unintended consequences’ of the proposed Directive.