October 2013 Issue

    Month: October
    Year: 2013

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    Keeping junior happy

    Private equity firms are having to find new ways to retain younger talent – from providing them with senior mentors, to loaning them money so they can invest in the funds they manage.

    US rushes to finalize FATCA agreements

    US tax authorities are battling against the clock to secure more than 70 FATCA agreements before July, PE Manager has learned.

    AIFMD prohibits use of Reg D exemption

    GPs marketing under the pan-EU directive may find it difficult to publicly advertise their funds in the US, according to market sources.

    FBI identifies top terms used by fraudsters

    At a time when regulators expect GPs to investigate any sign of corruption, Ernst & Young and the FBI have provided the top 10 most popular phrases used by fraudsters in emails.

    Thomas H Lee escapes collusion suit

    The number of private equity firms accused of big rigging buyout deals now stands at seven.

    TPG seeks investment period extension

    The firm has asked LPs to give it more time to invest Fund VI, a move that could push the launch of TPG’s next fundraising into 2014.

    LPs ‘frustrated’ by late financial statements

    A fraction of the GP community is struggling to deliver quarterly performance figures to their investors on time, a problem being pinned by some on a tough audit season.

    The value of team unity

    Some staff churn is actually good for performance, fresh research shows, but don’t expect the findings to dramatically change GPs’ hiring practices.

    Answering the same question once

    ILPA will soon unveil a standardized due diligence questionnaire for vetting fund managers. We ask the LP trade body how it intends to address likely questions about the initiative.

    Exploring ways to enhance the website

    One of the first impressions a firm can make is through its website. Industry communications specialists and web consultants speak to PE Manager about how GPs can enhance their online presence.  

    Waiting for answers

    Setterwalls partners Sören Brekell (pic) and Niclas Hermansson answer when GPs should consider changing their tax structure in light of a recent tax crackdown in Sweden.

    A guide to online FATCA registration

    The Internal Revenue Service recently opened an online registration portal for GPs subject to the globe-wide US tax reporting bill FATCA. Industry tax and legal experts guide PE Manager through the registration process.

    Should you follow your star lawyer?

    When legal superstars jump ship to new law firms, their GP clients must weigh a host of factors when deciding if they should follow suit.

    Opinion split on who pays for compliance costs

    Who should foot the bill for firms’ legal and compliance measures, like completing Form PF or FATCA reporting? GPs are technically permitted to charge such expenses to the fund, but many firms are instead allocating such costs to the management company.

    The legal power 30

    Who are the most influential lawyers working in the private equity industry today? We asked a cross-section of GPs, LPs and other advisors – and these are the thirty names that came to the fore.