July / August 2011 Issue

Five seasoned executives recently sat down with PE Manager in New York to discuss how pending regulation will change everything, from how procedures are enacted to how firms communicate to investors.

The programme requires the US Securities and Exchange Commission to create an office that works with whistleblowers and helps the SEC determine the awards for each whistleblower. Potential whistleblowers could set their sights on private equity firms.

A UK proposal to make merger notifications a mandatory requirement, in line with most other EU nations, will be particularly irksome for private equity deals if passed, market sources say.

The EU Commission is seeking public feedback on its proposal to allow venture capital funds pan-EU marketing rights. The proposal mimics rules for later-stage funds under AIFM.

Compliance officers and investor relations executives spoke at Private Equity International’s Investor Relations Forum this week about how they are working together to expand LP communications and navigate the ever-shifting regulatory landscape.

Creditors for the South Carolina-based hotel chain are claiming Blackstone and real estate firm Lightstone Group inflated the sales price of the company in the 2007 buyout, leaving the company insolvent, and are seeking $8bn.

Europe’s representative association for the investment management industry has elected Claude Kremer as president, vowing to support sister trade body EVCA in its lobbying efforts against the AIFM directive.

Most of the law firm’s London-based fund formation practice is planning to leave for Weil Gotshal & Manges, leaving one partner to lead the practice as the firm works to re-build the team through internal promotions.

The US securities watchdog requested the Steve Schwarzman-led firm provide more information on executive compensation and a class-action lawsuit tied to the firm’s 2007 public listing.

The National Venture Capital Association is pleased with the SEC’s definition of venture capital, but is awaiting clarification on reporting requirements which have been mandated by Dodd-Frank.

Just as the SEC publishes guidelines over registration requirements for buyout groups, a Republican-led effort to exempt private equity firms from SEC oversight has taken another step forward.

The US Securities and Exchange Commission adopted final rules surrounding required registration with the agency. Private fund managers must comply by 30 March 2012.

Channel Islands-based law firm Ogier is making inroads into China as offshore jurisdictions look to promote themselves to Asia’s burgeoning funds industry.

The reported detention of Paul Yoo might further delay Lone Star’s planned sale of Korea Exchange Bank to Hana Financial Group.

Katherine Woodthorpe, the trade association’s chief executive, said Australia’s fundraising is at its lowest since 2005.

The maximum number of limited partners in a PE fund set up by a Chinese brokerage is capped at 50, according to the new guidelines published by The China Securities Regulatory Commission.

KPMG names head of PE practice 2011-07-11 KPMG has named Marc Moyers as the national sector leader for its US private equity group, focusing on advisory in mergers and acquisitions, exit strategies, portfolio company operations and joint ventures. Moyers succeeds Shawn Hessing as head of

While UK-based managers familiarise themselves with new carbon-reduction reporting requirements, US-based GPs are still awaiting their own government’s response to the threat of global warming.

Jordan Thomas helped develop and implement the SEC’s whistleblower programme, which was enacted by the Dodd Frank Act and could impact private equity firms

The former head of investor relations at buyout firm Terra Firma has resurfaced at turnaround specialist Strategic Value Partners.  

While some concessions were achieved, the private equity industry’s fight for favourable takeover rules was lost this week as US competition authorities unveiled sweeping changes in the way firms report mergers and acquisitions.

US House of Representatives members Jared Polis and Mike Quigley sent a letter to President Obama strongly opposing a tax increase on carried interest.

As California’s Fair Political Practices Commission investigates 49 CalPERS investment staff for gift reporting, CalSTRS officials, including Mike DiRe, have personally signed a letter saying they ‘stand by and support’ their counterparts.