December / January 2012 Issue

GPs subject to the FCPA now have a better understanding of when an entity is considered government-controlled, and of their liabilities in acquiring a company with past corruption problems.

Following support from the international community, the UK has begun talks that could lead to the application of a FATCA-style tax exchange with offshore domiciles.

The SEC has charged three executives from KCAP Financial, a BDC regulated fund, for failing to properly measure the exit price of debt securities held during the financial crisis.

Mary Tokar has joined the International Accounting Standards Board at a time of increased focus on emerging markets.

Firms including Bain, Apax and CCMP are pledging significant sums to better align interests with investors, many of whom want to see ‘cash up front’.

Asian GPs tend to hold firm on fee terms and carry more often than their counterparts in the US and Europe, but LPs are asking more questions than before, delegates heard at the PE Asia CFO & COO Conference in Hong Kong.

GPs hoping for success on the fundraising trail may want to consider creating a virtual data room for LPs to conveniently access marketing materials and a few other key investor relations strategies.

In late 2012 the UK’s Financial Services Authority finally took the plunge and released a consultation paper stating its position on highly anticipated AIFM rulemaking. Here PE Manager explores what the regulator has told us, and more importantly, what it hasn’t

Some firms may be more vulnerable to natural disasters given geographic locations. But no matter the risk exposure, disaster recovery and business continuity planning are increasingly important to LPs as well as regulators.

E. Brooke Whitaker of Serasi Capital discusses some excel set-up techniques and spreadsheet usage rules to help chief financial officers in their financial modelling

Storing data in outdated shared servers, spreadsheets or PDFs can be a real time-waster, writes Jeff Williams, who argues tech-savvy GPs can compile reports and conjure past due diligence reports with a few clicks of a button

SL Capital's chief operating officer Ian Harris, opens the door for PE Manager to find out more about the fund of funds’ valuation committee meetings and fact checking procedures.

As more GPs consider migrating in-house IT systems into cloud platforms, PE Manager investigates the pros and cons of making the switch.

Registration with the US Commodity Futures Trading Commission is looming for certain firms – and their portfolio companies – that hedge against currency risks.

The revised guidelines feature an expanded list of ‘essential disclosures’ GPs should include in their investor reporting.

Private offerings to non-accredited investors were the most common products that led to, or were at the centre of, enforcement actions from state securities regulators.

US general partners may be next to face burdensome tax information demands from overseas governments.

Here operational consultant Richard Ramsey of The Highland Group explains how to effectively compare target companies and why only a ‘desktop benchmarking exercise’ can leave a chief executive unimpressed.

An audit report provides a useful and objective snapshot of a target company’s financial health, but equally useful is a ‘quality of earnings’ exercise, which can produce information far more intriguing. Nicholas Donato speaks with McGladrey partners Joseph Mazza and Robert Moore to compare the two complementary due diligence strategies.

Stakeholders now have until Friday to provide their thoughts on how to effectively modify US accounting standards for private companies.

Non-US private equity firms have been given another year to prepare for the complex US tax law.

In this exclusive white paper, Jessica Duran (pic) and Mark Berkowitz of Deloitte Tax, detail a dynamic trend in the private equity industry: capturing tax savings by structuring the acquisition of a target as a passthrough entity.

In France, President Hollande’s 2013 budget has rattled the business community. So where do GPs stand today amidst all the tax uncertainty?

Four mid-market private equity firms from across Europe have formed a new alliance, in a bid to find additional growth avenues.

With all the risks in emerging markets, due diligence can become expensive fast. PE Manager explores how GPs decide ‘how much is too much’ in costs and time when investigating emerging market opportunities

A recent case involving Goldman Sachs and one of its employees has highlighted that even non-cash contributions can still trigger pay-to-play violations, according to a Ropes & Gray client memo.

Time to review compliance manuals – both at the partnership and portfolio company level – now that the UK’s Serious Fraud Office is signalling a bigger commitment to bribery busting.

Dividend recapitalisation activity, which has been robust this year, will be restricted by implementation of the AIFM directive next July.

The SEC was right to take more time deciding how GPs can safely market their funds in the public setting. However, outlining how firms certify only ‘accredited investors’ find their way into the partnership should not be one issue holding the agency back.