July / August 2015 Issue

The untimely death of JP Morgan Chase vice-chairman James ‘Jimmy’ Lee, the man credited with changing the blueprint for modern private equity deal-making, marks the passing of an industry titan. Here, pfm pays its own respects.

We challenge Blue Equity’s Jonathan Blue to explain the prospects of private equity one day hunting deals in Cuba.

McGladrey tax specialist John Wozniczka says sales and use  tax is an area of risk not always given the attention it deserves by private equity buyers.

Reps and warranties insurance may be more popular than ever, but these policies take time and skill to acquire, with lingering questions as to how much will be paid on any claim.

Compliance risks rarely present themselves at the surface, warns EisnerAmper audit partner Dov Braun. Accordingly, CCOs must recruit their colleagues, who can have a deeper understanding of the compliance risks in their respective fields, to discover where the problem areas rest.

As cybersecurity continues to command GPs’ attention, many firms are considering purchasing cybersecurity insurance. But what do these policies entail, and more importantly, are they worth it?

LPs are tired of fees on undrawn capital commitments. A wholesale switch to managers charging for invested capital only may be an answer, but it’s not the solution.

With both ILPA and EVCA looking to sharpen their guidelines on fee reporting, the wattage of an already bright spotlight on LP expenses is certain to increase.

The UK government appears to be tightening the fiscal screws on carry as much as it can without spooking the industry.

The road to standardized carry reporting is proving a long and arduous one, but a new CalPERS initiative may help move the needle.

GPs who have yet to bring on a third-party fund administrator should be well aware of the increased risks they face and the increased LP interest in outsourcing, notes PEF Services founder Anne Anquillare.

CLO managers are searching for ways to allow third parties to help finance risk retention

GPs, take note: what SEC private equity examiner Igor Rozenblit had to say about co-investment management and stapled secondaries at the PEI Investor Relations Forum was intriguing

BaFin has given non-bank lenders the nod for origination. The authorities in Brussels should do the same

Investors are struggling to gauge managers’ ESG efforts, leaving it up to the GP to communicate the work being done

Compliance officers beware: including private placement disclaimers in your marketing literature isn’t always a good idea

Compliance officers should accept the SEC’s invitation for more dialogue

Wyatt’s post-speech message to CCOs and other highlights from this year’s PEI Private Fund Compliance Forum.

The SEC has set its sights on a new target, but is the real estate world prepared for its compliance close-up?

The SEC’s proposed revamp to reporting requirements will mean more data gathering and busywork for CCOs, but just how much work will vary from firm to firm.

MOFCOM has issued proposals that will ease private equity investment in China. But they’ll need the approval of other powers to make it happen.

News and views too good not to share...

News and views too good not to share...

With the US political season heating up, we challenge Sadis & Goldberg lawyer Ron Geffner to explain Dodd-Frank pay-to-play restrictions.

The AIFMD marketing passport was meant to give EU fund managers an all-access pass to market across the European Union; but as individual countries ‘gold plated’ their regulations, some have added additional paperwork and fees.

CFOs and fund administrators gather to discuss whether extra regulatory reporting and other trends are pushing more GPs towards outsourcing.