US firms that live in fear of registering as an investment advisor may find that it's not as painful as they thought – provided they are well prepared for random audits
4 min read · 21 January 2013
President Obama included language in his budget released yesterday that would tax carried interest as income at 39.6 percent. In other regulatory news, a bill in Congress would also require all advisors to private equity funds to register with the SEC.
3 min read · 21 January 2013
New York firm SecondMarket says it has attracted more than $500m worth of secondaries for its new LP fund interest trading platform.
2 min read · 21 January 2013
Europe’s private equity industry has submitted a 300-page document to the European Parliament to begin a debate on industry regulation without ‘political colour’. An enforced code of conduct has become a necessary step, according to EVCA secretary general Javier Echarri.
3 min read · 21 January 2013
The $500m private equity fund will support the development of transport, energy and other infrastructure projects in the Latin American country. Ashmore, local partner Inverlink and technical adviser Macquarie have agreed to invest in the fund.
1 min read · 21 January 2013
The debt-laden REIT says it is examining its future, including potential bankruptcy protection, as it struggles to refinance billions of debt in a stalled refinancing market. The REIT is reportedly in default on loans secured by two malls in Las Vegas, including the Fashion Show Mall.
2 min read · 21 January 2013
The real estate investment trust arm of JE Robert Companies has undertaken a 1-for 10 reverse stock split after its average share price dipped below $1 in violation of the New York Stock Exchange’s listing requirements.
1 min read · 21 January 2013
Station Casinos’ proposed debt restructuring has met with anger from some bondholders. A lawsuit alleges the plan is 'ungentlemanly', favouring a limited number of senior note holders. Station said the lawsuit was 'without merit'.
2 min read · 21 January 2013
The joint head of the firm’s North American social infrastructure and transportation group led the firm’s bidding for some of the most prominent asset sales in North America, including the Indiana Toll Road and the Pennsylvania Turnpike.
1 min read · 21 January 2013
The $64bn of money allocated to infrastructure spending includes multiple pockets of discretionary spending that contractors and developers could compete for, lawyers at McKenna, Long and Aldridge explained to listeners during a conference call.
2 min read · 21 January 2013
