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NY Common Accepted Fee Waiver DealsAn investigation by New York’s top prosecutor into whether a group of private equity firms used a fee arrangement to dodge taxes may be undermined by the state’s own public pension fund, sister news service Reuters reported.
- Reuters - NY Pension Invested in Controversial PE Vehicles
An investigation by New York's top prosecutor into whether a group of private equity firms used a fee arrangement to dodge taxes may be undermined by the state's own public pension fund, writes Reuters. New York Attorney General Eric Schneiderman in July subpoenaed more than a dozen private equity firms, including Apollo Global Management LLC, Bain Capital LLC, KKR & Co LP, Silver Lake Partners LP and TPG Capital LP, over their practice of converting management fees paid by investors into fund investments. Schneiderman's office is investigating whether the practice, known as a "management fee waiver", was exploited by private equity firms to reduce their taxes, writes Reuters.
- NY Pension Invested in Controversial PE Funds
New York Attorney General Eric Schneiderman's crusade against the management fee waiver seems to conflict with the agreement, and the interests, of the New York State Common Retirement Fund. Who is right about the legality of the waiver?
- NY Probes PE’s Tax Strategy
Turn your head and say 'subpoena!' Middle market and large cap LBO shops get a visit from the badges, who have plenty of questions about their tax practices.