July / August 2012 Issue

Larger GPs in particular are finding ways to fully integrate their front and back office systems, while the trend for smaller firms has been to at minimum include risk management and reporting to their back office functions, according to data seen exclusively by PE Manager.

The SEC has lost two of its top investigators to the private sector, including Robert Kaplan who co-headed the agency’s unit responsible for monitoring private fund managers.

The SEC has not yet made any final decision on wholly adopting international accounting standards but a long awaited working paper from the agency lists a number of requirements if the US were to do so.

Martin Kelly has left the scandal ridden UK bank to replace outgoing Apollo chief financial officer Gene Donnelly.

More LPs are requesting a copy of the budget when negotiating management fees.

In its latest ESG report the global alternative assets titan said it plans to reduce the environmental impact of its New York headquarters, and then later its offices around the world.

Wonder what a typical Tuesday is like for an investment chief at a European fund of funds? Andrea Mazzaferro, vice president of investments at Advanced Capital, opens up his diary...

Transferring intellectual property rights to a tax-favoured jurisdiction can increase a portfolio’s cash flow and leverage write McGladrey tax advisors Bert Hawkins (pic) and Rob Schmidt.

When assimilating new dealmakers into a firm’s culture, management teams are faced with identifying the specific needs of each recruit and other challenges. PEM explores the contrasting styles GPs use to integrate post-MBA hires.

The sudden demise of a star dealmaker is always a challenging time at the firm. We ask SKCG head of employee benefits David Parker how term life insurance can mitigate the impact

Is carried interest a profit share, or payment for a service rendered? Mariya Stefanova of Private Equity Accounting Insights sheds light on the question and other related matters in this how to guide for accountants wondering how to book carried interest arrangements

Spillover effects from the LIBOR scandal may hit GPs in the form of greater financial regulation and stricter lending arrangements.

Unlike other sectors, private equity compensation practices are in little need of regulation as they are aligned with investors. Good news then that EU regulators are beginning to acknowledge that by cutting red tape for GPs employing a ‘European’ waterfall carried interest model.

Ken Joseph will oversee the agency's inspection of registered private equity firms in the New York area.

LPs may demand more granular limited partnership agreements following a UK court case that limited GPs’ obligation to disclose certain portfolio company information.

The recent collapse of the QFLP scheme highlights regulatory tensions in China – but don’t bet against it being revived at some point. Jeremy Hazlehurst reports.

Smaller firms able to escape the EU’s game changing Alternative Investment Fund Managers Directive have many options to consider from a structuring and regulatory arbitrage perspective, advises Bovill’s Ben Blackett-Ord.

Asian trade groups view compliance with FATCA as a major challenge due to cultural differences and variations in existing local laws, according to comment letters to US tax authorities.

When analysing the changes in portfolio company value, most GPs are content to measure changes in EBITDA, valuation multiple, and leverage. But if willing to dig deeper, firms may be able to tell investors a more compelling story around their value-add work. Here we ask Duff & Phelps managing director PJ Viscio to give us the details.

For practical reasons GPs have long enjoyed the ability to draft ‘fiduciary-lite’ partnership agreements. But not all LPs are fans of the practice.

Lengthy review periods and exhaustive notification forms will increase the difficulty of closing deals in Brazil, according to legal sources.

GPs’ potential litigation exposure has jumped following reforms to US age discrimination laws. That means more homework needs to be completed before making certain hiring decisions or assigning bonuses.

Avoiding an investor relations nightmare is just one of many factors to consider when parting company with a disgruntled partner.

President Obama’s first attack on private equity has largely fallen flat. But that’s no reason for the industry to ease off on its lobbying efforts.

Building a brand can increase visibility with investors, dealmakers and job seekers.

The markets watchdog has pushed back implementation of its 'solicitor restriction' rule while making a technical correction to its definition of 'covered associates'.

From ‘Form PF’ to FATCA, private equity firms have a seemingly endless stream of regulations by which they soon must comply. How to prepare for these requirements, which in some cases lack final language and clarification, can be a source of concern.

To the delight of GPs, India's regulators have unveiled a comprehensive framework for the country's alternative assets industry.

The Norwegian tax authority will class carried interest as standard income, in effect increasing the amount GPs in the region will pay to the taxman.

Proposals to the UK’s CRC scheme will mean fund managers can more easily separate carbon reduction liabilities amongst portfolio companies, but the bureaucracy of the scheme for complex structures like private equity funds is still leaving room for concern.