North America

It's your turn

Which firms and deals are going to top our annual reader poll for 2009? You tell us.

Tax: a global view

PEI Media’s sister publication, PERE magazine, recent sat down to speak with Keith O’Donnell, the global head of real estate at Taxand, to discuss the grand tax themes shaping the industry. From crackdowns on abuse of tax treaties to attacks on interest deductibility of intra-company loans and the taxation of debt investments, there is plenty to concern private fund managers.

To SBIC or not to SBIC?

An enviable carve-out from the US Investment Advisers Registration Act bill, and possible new funding from the government, might make structuring your fund as a Small Business Investment Company a tantalising prospect.

US tax uncertainty remains for foreign distressed debt buyers

The distinction between distressed debt investing and running a lending business remains unclear after a recent IRS memorandum.

GP registration moves one step closer with House vote

The US House of Representatives has approved a rule that would force private equity funds managing more than $150m to register with the SEC. The bill now goes to the Senate for a vote.

CalPERS commits $120m to SAIF IV

The commitment comes as the $200bn pension is reviewing its private equity programme, including analysing fees paid by its fund managers to placement agents.

US ‘FAT CAT’ tax may hit foreign funds

A bill awaiting approval from the US Senate would impose a 30% withholding tax on US income for foreign fund managers who fail to agree to new transparency requirements.

Duke Street in Simple 2.7x exit

The UK private equity firm has sold popular UK facial skincare brand Simple for £240m. It previously sold a non-core division to Electra for £80m.

Kelso raises £100m for turnarounds

The turnaround-focused UK firm has attracted institutional capital for the first time and beaten its £75m fund target.

Carlyle- and GS-backed Cobalt eyes $1bn listing

The oil and gas exploration platform, created in 2005 by a consortium including Carlyle, Goldman and First Reserve, hopes to fund its exploration activities despite having ‘no proved reserves’.