July / August 2013 Issue

Investors were given a choice between USD and euros when committing to Apax's recently closed Fund VIII, a feature designed to address foreign exchange risk.

The firm’s policy on vesting of carried interest is a key tool in retaining the next generation of senior management writes Pepper Hamilton lawyer Julia Corelli.

Insights in how to plan for ERISA controlled group liability following the Sun Capital decision are provided by Debevoise & Plimpton lawyers Jonathan Lewis (pic), Alicia McCarthy and Agatha Kluk.

A US Supreme Court ruling on same-sex marriage may expand the pool of accredited investors able to make private equity commitments.

A bill to exempt private equity firms from SEC registration has sailed through the House Financial Services Committee.

The real impact of global tax transparency for the private equity industry will be compliance costs, according to industry tax experts.

Recent research on GPs' tendencies to inflate valuations suggests the issue is limited to underperforming fund managers.

Fund managers should consider approaching investor relations as they would a marriage, according to at least one LP speaking at PEI’s 2013 Investor Relations Forum in New York last week.

UK courts have adopted a narrow interpretation of what constitutes a material adverse change, an outcome that may have an impact on US legal decisions.

Women and minority groups are still an underrepresented class in the industry, but signs of change are emerging, recent research reveals.

Despite suggestions from US tax authorities that management fee waiver strategies may come under fire, legal sources say only the most 'aggressive' arrangements will catch attention.

Why the PEGCC’s and NVCA’s recent endorsement of private equity valuation standards is really about an excruciating audit season.

Guy Hands still must convince a jury his firm Terra Firma relied on an alleged misleading statement from Citi in the decision to acquire EMI, but the burden of proof has been lowered.

GPs must carefully document their distinct legal separation from portfolio companies if they want to protect themselves from compensation claims under the US WARN act, a recent court case has shown.

The private equity industry's US trade arm has sent two letters to House lawmakers in a bid to sway opinion on carried interest and partnership taxation.

Compliance professionals who allow employees to use popular social media channels like LinkedIn feel more comfortable about their ability to supervise electronic communications, according to a recent survey.

US and international accounting rule setters have released a proposal designed to move more leases on to firms’ balance sheets.

Providing smaller investors a seat on the limited partner advisory council can energize committee meetings.

When international investors were presented with plans for China’s biggest private real estate fund by entrepreneurs Kenneth Hung and Vincent Lo, they flocked to the vehicle in droves. Some haven’t touched Asian real estate since.

The AltExchange Alliance is the most ambitious attempt yet to create a common standard for exchanging information between GPs and LPs.

Some non-EU managers will be caught by EU rules that prevent GPs from making certain distributions and other restrictions during the first two years of owning a portfolio company.

Looking to reduce risk exposure? PEM examines some of the more niche insurance policies available to GPs.

Now more than a year out since many private fund managers filed their first Form PF, we ask Cordium compliance consultant Amelia Stoj about their reporting experiences.

Jersey doesn’t appear to be sweating over AIFM rules that ring-fence outsiders from accessing EU private equity investors. Jersey Funds Association head Nigel Strachan tells PE Manager the offshore island's confidence stems from offering GPs a menu of oversight options.

The agency made two internal promotions to fill the void left by Bruce Karpati, who stepped down as head of the asset management unit earlier this year.

Three novel branding strategies for private equity firms aiming to distinguish themselves from the pack.

Will five of the biggest private equity markets in the EU be ready for the directive’s July 22 go-live date? PE Manager provides some answers.

Firms registered with the SEC may use different tactics when completing their ‘Form ADV Part 2’, but some best practices are emerging.

China’s regulators are battling to become the top watchdog for private equity.

Recruiting top talent has never been tougher. Genstar Capital's human resources executive, Katie Solomon, walks you through some must read best practices when interviewing candidates.

Fresh research has discovered a way for GPs to quantify their firm-wide risk profile, something that some investors are taking a greater look at.

Differences in compensation between dealmakers and operators can create tension within the firm, but GPs are finding it difficult to strike an objective pay balance between the two sides.

PE Manager locates where some of the most lawsuit danger resides for general partners in today’s litigious culture.