The tech companies’ partnership will give clients automated carry and waterfall calculations, as well as instant access to relevant data from fund documents for audits and more.
Delegates at the 2014 forum heard about the challenges around automating the carry waterfalls process – something that’s still true nearly a decade on.
Earlier efforts to reform carried interest taxation had stalled, before US Senator Joe Manchin announced on Wednesday that he and Senate Majority Leader Chuck Schumer had worked out a deal.
A House bill, as currently written, came as a surprise to the market, as other regulatory, inflation and competitive headwinds abound in private equity. But Fall Forum panelists kept their chins up about the future.
A US Chamber of Commerce report predicts the tax could see the PE/VC industry shrink by nearly 20%. But a House committee moved to take its edge off, and one finance exec shrugs at even the worst proposals.