Transparency has been a hot topic for the alternative assets industry for some time. New laws intending to cast light on secret structures and concealed ownership have just come into force – not in Panama, but in the UK. This article examines how they impact on UK companies and LLPs, particularly in the context of…
Women have been under-represented in private equity for as long as the industry has been around. But there are encouraging signs that the glass ceiling is cracking. As the film industry likes to remind us, the world of high finance can be a very macho place. Recent academic and industry research suggests that women hold…
Lending to a private equity fund for its own purposes is not as straight-forward as lending to corporates. This article examines how lenders can secure their loans, and the impact of that security on managers and investors. Why borrow? Leverage in a private equity fund structure is mostly injected at acquisition level and rolled on…
New industry guidance increases pressure on managers to provide investors with more information about their funds, especially fees and expenses. But how much will really change? New Professional Standards Handbook InvestEurope, the trade association formerly known as the EVCA, late last year published the latest edition of its Professional Standards Handbook. The Handbook covers the…
Over the next two years the Senior Managers and Certification Regime will progressively cover the whole of the UK financial services industry (other than the insurance sector), replacing the Approved Persons Regime (APR). What can private equity and hedge fund managers expect? Out with the old, in with the new Over the next two years…
Regulators are gunning for fund managers over opaque or dubious fees and expense arrangements. How can managers and investors get ahead of the game? With most of the new financial regulations on the alternative assets sector having come into effect, regulatory agencies are now devoting more time to scrutinizing the newly-regulated industry’s activities and practices,…
Many fund managers believe that it is better to hire new staff as consultants rather than employees. But consultants aren’t always cheaper than employees, and the undoubted advantage of flexibility may be offset by other factors. This article assesses the relative merits of consultant and employee status. For many fund managers, it is axiomatic that…
The use of leverage in private equity secondaries has its advantages, but also raises issues around the form of security in respect of such financings that both purchasers and sellers should be aware of. Feeling insecure? Leverage in PE secondaries deal The use of leverage in private equity secondaries transactions is not new. As the…
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