David Snow

A select 75 general partners are holed up in 75 private rooms at the Sheraton New York for the first of a two-day summit organised by the Institutional Limited Partners Association – an event described by one attendee as “speed-dating”.

A member of the China Venture Capital Association has reportedly said that private equity deals in the country are on ‘on hold’ pending clarification from the government on the use of offshore vehicles.

The two private equity giants have teamed with Haier Group, China’s largest maker of household appliances, in a $1.28 bid for Maytag, a struggling US maker of washing machines that already has a buyout deal inked with Ripplewood Holdings.

Congressman Christopher Cox, President Bush’s choice to head the Securities and Exchange Commission, has long been involved with the venture capital industry as an attorney, foe of taxes as well as opponent of supposed Silicon Valley ’technology transfer’ to China.

The private equity arm of beleaguered insurer and professional services conglomerate Marsh & McLennan has spun out to form an independent, called Stone Point Capital, with more than $2bn in capital under management.

The global private equity powerhouse has named Louis Giuliano, former head of ITT Industries, as an advisor in the aerospace, defense, industrial and auto sectors.