Stephen Hoey, chief financial officer at KPS Capital Partners, was awarded the pfm Leadership Award at the 2017 PEI CFOs and COOs forum in New York on Wednesday.
Hoey has been at KPS since 2004 and has over 30 years of experience in private equity. He also serves on the board of the American Investment Council, the Executive Board of the Suffolk County Council, Boy Scouts of America, is a member of the Advisory Board of FM Global Insurance and a Member of the Board of Directors of the New York Chapter of the Private Equity CFO Association.
Hoey, the seventh winner of the award, told pfm one of the biggest issues facing the industry at the moment is uncertainty.
“As we prepare for the new administration, there is uncertainty surrounding tax laws, and regulation,” he told pfm. “Whether the treatment of carried interest will be changed is an issue for GPs, while issues at a portfolio company level include potential changes to corporate tax regimes, and whether or not interest expenses will be deductible going forward, if capital expenses might be fully deductible immediately and how imported and exported goods and services might be taxed under a new tax regime.”
The KPS funds were awarded a Private Equity International Operational Excellence Award in 2016. By improving the operations of Motor Coach Industries International, the team assisted the company's management in turning an almost-bankrupt coach operator into a $479 million business.
“The credit goes to the company's management and the KPS operations team, which looks for opportunities that others might have passed on,” Hoey said.
The pfm Leadership Award is an annual award given in recognition of an individual able to advance any number of key issues and causes important to the private fund CFO and COO role. The award is determined by PEI 's editorial staff. Past award recipients include Blue Wolf Capital Partners' chief financial officer Joshua Cherry-Seto and The Riverside Company COO Pamela Hendrickson.