Jenna Gottlieb

This week, the clock is ticking on two pieces of US legislation that would have huge impacts on private equity and real estate managers, while the deadline nears for the AIFM directive in Europe.

Under a compromise between the US Senate and House of Representatives, most private equity funds will have to register with the SEC, while venture capital firms will be exempt.

A re-tooled version of the bill will likely face another vote on Friday as senators continue to negotiate.

Under a compromise between the US Senate and House of Representatives, most private equity funds will have to register with the SEC, while venture capital firms will be exempt.

The latest twist in the Capitol Hill carried interest drama would treat 65% of carried interest as ordinary income, but that would drop to 55% for investments held for seven years or more.

The bill that would hike taxes on carried interest has a provision that would make it more expensive for GPs to sell stakes in their firms.

In an effort to curb the use of placement agents, the US' largest public pension has set up an automated PPM system that has been greeted with market scepticism.

The House bill will tax 75% of carried interest as ordinary income at a rate of 35%, and the balance as capital gains at 15%. The bill now goes before the Senate.

Littlejohn’s fourth fund, which is targeting $1.3bn, invests in mid-market firms that are underperforming or financially distressed.

The placement agent has denied he 'gave, accepted and failed to disclose gifts' to senior pension executives, after being charged with allegedly 'attempting to bribe' CalPERS official Leon Shahinian.