February 2011 Issue


    Month: February
    Year: 2011

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    Campbell Lutyens hires legal chief

    The London-based firm has appointed Penny Walker as general counsel, a newly created position to navigate the fluctuating regulatory landscape.

    Brazil slashes PE tax for foreign investments

    Latin America’s largest economy has reduced taxes for foreign investments in private equity funds, according to reports.

    SNR Denton plants second flag in Asia

    The recently merged global firm has taken on a Hong Kong-based team from rival law firm Hammonds.

    EVCA calls for ‘fairness and proportionality’ on AIFM

    In response to a government consultation period with industry leaders over the AIFM directive, the EVCA has argued for a tailored approach to the private equity asset class.

    E&Y to launch ESG programme for PE

    Against a backdrop of growing appetite in responsible investment—Ernst & Young and the Environmental Defense Fund are launching a new environmentally-focused fund return programme.

    Shanghai publishes guidelines to QFLP programme

    The measures leave many of the questions around foreign LP investment into RMB funds unanswered, but contain good news for foreign GPs managing RMB funds.

    Ex-Caterpillar CEO joins KKR

    James Owens, former chief executive at construction machinery company Caterpillar, joins as a senior advisor.

    Phoenix appoints former Candover partner

    The UK mid-market private equity house has recruited Jim Graham as its first-ever operating partner.

    Goldman reworks its private equity practices

    The owner of the world’s largest private equity outfit is introducing greater transparency to its operations.

    Former SEC chair blasts private equity rules

    The SEC lacks the manpower and expertise to monitor private equity firms, former SEC chairman Harvey Pitt told delegates at the Private Equity International CFOs and COOs Forum in New York.

    SEC proposes tougher disclosure rules

    Private equity managers with more than $1bn in assets may be subject to additional reporting requirements under a new rule proposed by the SEC.

    PineBridge: Opportunity in regulation

    Regulatory changes forcing banks to shed private equity teams have produced a wave of spin-offs in need of seed capital.

    Adams Street CFO wins first PEM award

    Adams Street Partners CFO William Hupp on Thursday received the 2011 Private Equity Manager Leadership Award.

    LPs: It’s too easy for weak GPs to fundraise in Asia

    So say two thirds of the global LPs surveyed for the latest Coller Capital private equity barometer, which also showed re-ups at an all-time low, but new commitments bouncing back as belief in private equity endures.

    Citi seizes control of Terra Firma’s EMI

    Citi has slashed the music publisher's debt from £3.4bn to £1.2bn and has reportedly received interest from private equity firms for the company formerly controlled by Guy Hands' Terra Firma.

    ILPA issues template for capital calls, distributions

    The industry trade organisation has released the first of five reporting templates expected to help simplify and standardise reporting in the private equity industry.

    Apollo hires former US Senator

    Evan Bayh, the former US Senator from Indiana, will join the firm as Apollo prepares to go public.

    GPs to contribute more to their own funds

    An informal survey taken at PEI's CFOs and COOs Forum in New York last week revealed GPs plan to contribute between 2% and 5% to their own funds going forward.

    News analysis: Don’t call it a bellwether

    Industry insiders are anxiously watching the progress of a number of funds in market – but pointing to any one firm’s fundraising experience as a paradigm of wider trends could be misleading.

    Pennsylvania governor re-joins Philadelphia law firm

    At Ballard Spahr, Edward Rendell will focus on infrastructure and PPPs, among other practice areas. He left office last week without a much-coveted PPP bill or a signed agreement for the state’s first PPP, but market observers laud his leadership on the issue of increasing infrastructure investment in the US.

    Carlyle embraces DIFC fund regime

    The firm’s latest MENA vehicle, the first of its kind, opens up certain sectors for Gulf-based LPs in Carlyle’s $500m MENA fund.