regulation

Clarity on withholding tax issues for non-US investors means secondaries trades can now be conducted with greater ease, write Macfarlanes’ James McCredie and Florence Barnes.

Elliot Weston, head of UK Tax and partner at Hogan Lovells, lays out the effects on buyers and sellers of LP fund stakes and what to expect from the proposed changes to stamp duty.

In the firm’s Q2 earnings call, Jonathan Gray pointed out where in private markets he thinks investment from defined contribution benefit plans will be directed to first.

Four lawyers – including three secondaries experts from Dentons, Debevoise & Plimpton and Kirkland & Ellis – discuss GP-led secondaries, ESG and the latest developments shaping private equity.

The limited partner body’s guidance on GP-led fund restructurings is designed to create an industry standard for the execution of these deals. How effective has it been in practice?

An overhang of LPs wanting to sell stakes in funds could delay transfers in order to conform with publicly traded partnership rules.

Sponsors considering running secondaries processes on their funds should be aware of potential pitfalls that can hit carried interest and scupper deals.

Higher fees and difficulty in agreeing on side letters with secondaries funds were among the reasons given.

Law firm Stephenson Harwood's Gabriel Boghossian and Sarah de Ste Croix outline three points of contention and practical steps to ensure effective LPAC operations.

Raising capital in multiple jurisdictions can bring challenges, warns one operating chief.