Regulation

Sir David Walker has spoken out against demands for separate legislation of private equity and has defended his decision to give UK industry group the BVCA the responsibility of enforcing his proposed code of conduct.

Dubai Financial Group has bought rival Middle Eastern firm Abraaj Capital’s minority stake in Egyptian bank EFG-Hermes for $1.1 billion.

A new tax on carried interest would be ‘a lot bigger than just private equity’, according to Phillips Hinch, a tax specialist with the US Chamber of Commerce, which recently released the second half of its study on proposed policy changes to carried interest taxation. Hinch tells PEO why the chamber opposes a change to carried-interest tax policy.

Dubai International Capital has jointly raised a $300 million infrastructure and energy fund with two other firms as the Middle Eastern investor continues at a frenetic pace.

European mid-market firm Bridgepoint has sold Alliance Medical to Dubai International Capital, as the investment firm continues a flurry of acquisitions.

Dubai International Capital, the Middle Eastern investment firm, has bought Almatis in a secondary deal, with loans at more than six times EBITDA provided by Swiss bank UBS.

Dubai Holding has made its second acquisition of a stake in an alternative investment firm this week, buying shares in Marfin Investment Group and Marfin Popular Bank.

Pension funds anticipate private equity returns over the next three years to be 38 percent lower than managers’ expectations. However, pension funds’ desire to invest in the asset class remains high.

Dubai International Capital, the alternative asset manager, has acquired a stake in US hedge fund Och-Ziff Capital Management in advance of its impending flotation. The hedge fund manager is the latest of numerous firms to receive backing from a state investor.

Specialist acquisition firm Three Delta’s bid for Sainsbury’s awaits an 8 November deadline as its talks with the supermarket’s pension trustees near completion.