Regulation

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.

European banks have largely sold off the bulk of their private equity stakes as a result of financial regulations. Now, they are increasingly using the secondaries market as a portfolio management tool.

The powerful House Ways and Means Committee has once again introduced a bill that would substantially raise taxes on carried interest.

An extension before the Volcker Rule takes effect gives financial institutions more time to comply.

Ed Gander (pictured), London-based co-head of the global private fund group at Weil, Gotshal & Manges, and associate James Bromley explain their take on the difference between a fund restructuring and recapitalisation.

The Guernsey office will be led by former Clifford Chance lawyer Stefan Gomoll.

The need for founder and employee liquidity in small, pre-IPO companies has fuelled specialist secondaries activity since the dotcom-days. But as the market shifts towards employee liquidity programmes, regulators are keen to establish a ‘fair, liquid and transparent’ market.

Complex structures, scale and breaching safe harbours top lawyers’ lists of challenges unique to today’s secondaries market.

There are certain alternatives a company should consider in the 409A valuation process when permitting secondary sales, writes Ira Simkhovitch, a senior associate at Industry Ventures.