Western Europe

‘Mother of all tax hikes’ opposed by industry groups, Republicans(2)

The Private Equity Council, National Venture Capital Association, International Council of Shopping Centers and many Republican lawmakers have come out in opposition to legislation introduced yesterday that would significantly increase US taxes for alternative investment fund managers.

TSM Capital makes second investment

Fashion-focussed TSM Capital is backing Rachel Roy, a financially astute designer to develop profitable handbags and accessories.

Overseas investment makes up 70% of UK industry

The near £11 billion per annum investment from overseas has contributed to the boom in the UK financial services industry, spurred on by cheques from private equity firms amounting to almost £580,000 per adviser.

Middle East investors defy the credit crunch

While the credit markets have placed many private equity deals on hold, the ability of investors from the Middle East to deploy capital appears undiminished.

Caisse may channel C$1.6bn to Indian property by 2012

Canadian pension fund manager Caisse de depot et placement du Quebec is reportedly looking to spend C$1.6bn on real estate in India in the next five years.

Helix nabs Rivett from Credit Suisse(2)

Helix Associates, the private equity placement agent division of Jefferies Investment Bank, has hired the former co-head of Credit Suisse’s Private Fund Group, Robert Rivett, as well as Stephen Gray, former managing director at corporate advisory firm Henniker River Advisors.

Permira consortium completes £110m sale after nine years(3)

A consortium involving Permira, RBS and HBoS has sold toothpaste tube manufacturer Betts Global after a nine year investment.

UK buyout firms feast before the famine(2)

The liquidity problems in the debt markets did not restrain record third quarter figures in the UK as deals were signed before the beginning August. However, big four accountant Deloitte said it expects few deals to complete in the next quarter.

Buyout code proposals given teeth

Sir David Walker’s report on transparency and disclosure has encouraged UK industry body, the BVCA, to name, shame and expel non-compliers with his proposed code.

Darling to pronounce on buyout taxes(3)

The UK Treasury is set to reveal its planned changes to the tax treatment of private equity later today. It is believed Chancellor of the Exchequer Alistair Darling will single out the industry in a bid for popularity.