Regulation

Kohlberg Kravis Roberts will become the latest alternative asset manager to raise funds on the public market, after revealing plans for a $1.25 billion initial public offering on the New York Stock Exchange before the end of the year.

Emerging markets buyout firm Actis has bought freight company Fuel Logistics Group from a Rand Merchant Bank-led consortium, allowing the transport company to meet its Black Economic Empowerment objectives.

The Africa-focused firm earned a 3.4x return on its investment in rubber company Societe Internationale de Plantations d’Heveas – the latest in a series of successful exits on the continent.

Guy Hands, the outspoken chief executive of Terra Firma, has hit out once again in defence of private equity’s tax treatment, highlighting the taxes paid by his firm and arguing that any changes would only benefit continental Europe.

China’s recent $3 billion investment in The Blackstone Group may have been the tip of the iceberg, as the government prepares to launch a $200 billion investment fund modeled on Singapore’s Government Investment Corporation.

The New York-based venture capital firm’s Fund VI is nearly twice the size of its previous fund.

Leading law firm Linklaters has hired Brian Gray from rival law firm Freshfields Bruckhaus Deringer, as it looks to strengthen its offering to private equity clients.

Joseph Blum, a senior project finance lawyer with substantial experience of advising oil and gas companies, has joined Global Infrastructure Partners as private equity’s interest in the sector shows no sign of drying up.

A day after two US senators unveiled proposed legislation to hike taxes for public partnerships, the share price of Fortress Investment has dropped. But one Washington observer put the likelihood that the Blackstone-inspired bill will become law at ‘one percent’.

Guy Hands, chief executive of Terra Firma and one of the UK private equity industry’s most forthright advocates, has defended the current tax treatment of carried interest. He believes it is right to distinguish it from other types of remuneration, since it rewards “long-term capital investment” by buyout executives.