March 2011 Issue

Improving Latin American regulatory systems and tax breaks are driving investment in the region.

China’s securities regulator is reportedly drafting rules that would allow securities firms to launch private equity funds as early as this year.

Diversifying allocations across alternative asset classes may mitigate the portfolio impact of climate change — which if left unchecked could cost institutional investors upwards of $12trn over the next 20 years, according to a recent study.

Britain’s largest private equity industry group is calling for an ambassador to venture capital as part of the UK government’s 2011 budget.

In the latest example of private equity firms hiring top military brass, London-based Chalsys Capital has recruited former head of the British army Mike Jackson.

Democratic Representative Rosa DeLauro of Connecticut again sponsored legislation to create a powerful, centralised infrastructure financing institution. The legislation is similar to her 2009 infrastructure bank bill, but with a few key changes.

Regulators from the United Arab Emirates are considering new rules over the funds industry which make little distinction between private equity and other asset classes.

Former HFX Capital senior executive Phil McGowan has replaced Ian Lambert as head of private equity and real estate services in the EMEA region.

A number of fund managers are unaware of a ‘little known loophole’ to side-step SEC registration, according to placement agent Triago.

The $71bn pension system says cuts in fees it pays to investment managers will save it at least $40m over the next five years.

Adena Friedman is joining The Carlyle Group, replacing Peter Nachtwey who resigned in December to join Legg Mason.

Some of the largest LBOs agreed during the heady days of 2006 and 2007 are readying record-setting IPOs.

A US federal appeals court has given the green light to an investor lawsuit claiming Blackstone whitewashed its portfolio before launching its listing on the NYSE. 

Terra Firma's founder and chairman recently met PEI for an in-depth discussion on life after EMI, Terra Firma's strategy going forward and the broader private equity industry.

Henry Morris was sentenced to between 16 months and four years in prison for running a scheme to strong-arm private equity firms into paying phony fees in exchange for commitments from New York State’s massive public pension.

A measure released today requires firms with an AUM of over RMB500m to register with China’s National Development and Reform Commission and submit to regular reviews. The measure will expand the investable universe of China’s SSF, which can only commit to NDRC-approved firms.

Jefferies managing directors Magnus Christensson and Mark Hallock will launch an independent placement firm, possibly under the name Helix, the name of the placement group Jefferies acquired in 2005.

Limited partners are ‘drilling down’ into the unrealised portfolios of GPs before committing capital, both with new and existing GP relationships.

Pension funds need governments to create or remove regulation to help channel more investments into infrastructure, the OECD said in a recent note.

In light of recent developments in Australian private equity, it will surprise few to learn tax is currently the key focus for Katherine Woodthorpe, CEO of the Australian Private Equity and Venture Capital Association.

The $231bn pension also plans to boost its exposure to private debt as well as specialty financing in emerging markets like China and Brazil.

Richard Anthony, head of Evercore Partners Private Funds Group, many big-ticket fund managers will have to slash their fundraising targets.

Chairman Howard Marks told PEI Oaktree tends to return cash rather than seek fund extensions, particularly given changing market conditions for distressed investing.