May 2009 Issue

Matthew Arkinstall, Investment Director, Greenpark Capital, London

Apollo Management's Q4 2008 earnings presentation describes the alternative investment firm's valuation methodologies

CONTESTANT: Owen Dahl, senior manager, valuation & litigation services group, Moss Adams How do production delays and a weak economy affect asset impairment?

When investing in underperforming or distressed entities, having a solid communications plan isn't just gravy; it's critical to a successful operational turnaround, ultimately increasing valuation and improving exit options. By Sage Baker of FD.

Under a new interpretation of Rule 206(4), the SEC will hold GPs accountable for making false statements to investors; regardless of whether the falsehoods were intentional or not.

How Googleable are the details of your next fundraise?

Regulation D is increasingly looking like a dinosaur as US regulators demand greater transparency in private equity, and near-universal registration.

The US government is pushing harder than ever to lure private capital into banks, but California's Belvedere Capital doesn't need much encouragement.

More firms will need a strategy in 2009 for how they handle communications related to portfolio-company bankruptcies

In its third lawsuit in six years, the private equity firm claims Apollo failed to mark down assets used to collateralise its debt.

Private equity firms looking to rescue their investments are increasing utilising debtor-in-possession (DIP) financing.

Six private equity and venture capital professionals urged Congress to address some of the biggest impediments to private investment in small businesses.

Should some US GPs worry about the government clawing back their carried interest distributions?

Obama's carried interest tax plans might seek to close the management fee-waiver loophole

A recent lawsuit by a firm against two LPs highlights the new dangers that may await those who fail to find liquidity solutions in today's market.

Changes to mark-to-market accounting rules in the US will allow firms to exercise their best judgment in pricing assets.

The Blackstone Group has refused a request from the US Securities and Exchange Commission for more information on fund performance and bonus compensation.

The term private equity wasn't mentioned once in the UK's Turner Review, but the industry will nonetheless be affected by the report's conclusions.

New US Treasury proposals could lead to more registrations with the SEC and higher costs for private equity firms.

People who make a living at communicating in private equity are living through some very interesting times, as you'll read in this issue of PEI Manager, devoted to communications.