Kevin Ley

California firms agree placement ban

In relation to the pay-to-play scandal, Ares and Freeman Spogli have signed on to New York Attorney General Andrew Cuomo’s code of conduct that prohibits the use of placement agents.

CPPIB to pour $400m into Canadian FoF

The Canadian penion will access the SME market - and boost flagging domestic fundraising figures - by committing to a programme managed by Northleaf Capital.

Obama plan calls for PERE firm registration

Investment firms with assets over a ‘modest threshold’ will need to register with the SEC, according to a proposal released last night by the White House. The plan comes a day after a Senate bill set $30m as the line above which all firms would need to register.

EVCA: EU directive has 'long way to go'

Proposed EU regulations covering the private equity industry have received more than 1,000 demands for amendments by MEPs, indicating that the process of achieving a final bill could stretch on even longer.

Dutch pensions fear €1.5bn directive cost

A group of prominent Dutch pensions has warned investors could pull out of alternative investing if the EU regulations on alternative funds are approved.

KKR to invest 'hundreds of millions of dollars' in partnership

The firm is partnering with Jonathan Grayer, a former CEO of an education-focused company, to find investments in education, consumer services and marketing.

Providence adds to debt investment team

Former GoldenTree partner Oliver Wriedt is joining the firm’s capital markets group, which was created in 2008 by former Deutsche Bank Securities CEO Thomas Gahan.

Fund write-ups continue in Q3

Mezzanine and distressed debt funds led the pack with the best average returns in the third quarter of 2009 as the State Street Private Equity Index showed a second consecutive period of growth.

Dealing with departures

The likelihood of increased departures and retirements within the private equity industry means that more firms should start thinking about succession planning now.

Don’t get too excited over write-ups

Hopes of a sustained recovery in the market were raised after Q2 figures showed the first increase in fund values since 2007, but recent history indicates that valuations may have to go through another period of declines before that happens.