Victoria Robson
LPs expect to see detailed budgets to justify fees and ensure they are not being excessively charged, according to MJ Hudson's first LP Intel report.
The Swiss firm, owned by the Princes of Liechtenstein, has already made seven secondaries deals from Crown Europe Middle Market III which closed on its hard-cap.
The UK mid-market firm has completed the transfer of management of London-listed fund of funds business Graphite Enterprise Trust to ICG.
Sherwood Dodge will oversee the private equity programme, including secondary fund investments, at the $777bn Abu Dhabi sovereign wealth fund.
Investments held for more than four years will remain subject to capital gains tax treatment.
The key question posed by the UK government’s statement that it will introduce new legislation regarding the taxation of asset manager performance awards is what constitutes a 'long-term' investment.
Investments will include secondaries, according to Edi Truell, head of the Strategic Investment Advisory Board established to advise the Lancashire and London Pensions Partnership.
Ahead of the investment company’s planned move to the main board of the London Stock Exchange in early September, HarbourVest’s associate director Richard Hickman talks about new measures shareholders need to consider.
The Treasury has invited the industry to respond to its proposed changes to existing limited partnership legislation, including introducing a list of permitted LP activities.
The immediate tax change is accompanied by a consultation on fund manager rewards.
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