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Kevin Ley

A recent bill introduced by US banking committee chairman Christopher Dodd maintains previous SEC registration exemptions by the Senate for private equity and venture capital funds, but could also lead to multiple state regulator oversight for smaller firms.
Kohlberg Kravis Roberts' $550m E2 fund will only pay carried interest to the GP after netting any losses, costs and expenses from the primary fund.
In relation to the pay-to-play scandal, Ares and Freeman Spogli have signed on to New York Attorney General Andrew Cuomo’s code of conduct that prohibits the use of placement agents.
Ares Management and Freeman Spogli & Co. have signed on to New York Attorney General Andrew Cuomo’s code of conduct which prohibits the use of placement agents, in relation to fees they paid to Wetherly Capital which were used to illegally secure investments from a New York pension fund.
A controversial provision that was removed from the AIFM Directive when Sweden held the EU presidency has been reinstated by Spain - prompting criticism from the Alternative Investment Management Association.
Proposed EU regulations covering the private equity industry have received more 1,000 demands for amendments by MEPs.
Industry participants are raising red flags over the pension giant's decision to sponsor legislation that would require placement agents to register as lobbyists and ban success fees.
After hearing evidence from industry witnesses about “protectionist” elements of proposed EU regulations, the UK’s House of Lords has written to the Financial Services Secretary about the threat to the EU’s global competitiveness.
If the hiring market picks up, more funds may want to consider annual vesting provisions to reward better-performing employees and to hold on to senior executives.
A recent court decision shows that the offshore investments of UK private equity firms could be subject to the country’s higher tax rate, unless they can provide better documentation that strategic board decisions were made outside the UK.

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