Kevin Ley
A group of prominent Dutch pensions has joined the chorus warning about the negative impact of proposed EU regulations on alternative funds, saying in a recent letter that such measure could cost the country’s pension fund and asset managers €1.5 billion a year.
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.
The US House of Representatives will vote next week on legislation that would require private fund managers with assets over $150 million to register with the Securities and Exchange Commission. If approved the bill will then go on to the Senate.
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.
Sweden is introducing changes to a proposed EU directive that, if passed, would curb compensation for hedge fund and private equity managers by up to 60 percent in some cases.
Representatives from the £13 billion Wellcome Trust and the UK Financial Services Authority testified before the UK House of Lords Tuesday about the potentially painful impacts from EU fund manager regulations, including loss of access to funds and marketing restrictions. House members said they would address such concerns in upcoming meetings with the European Commission.
The bill includes an exemption for Small Business Investment Companies as well as venture capital firms, and raises the minimum threshold for assets under management from $30 million to $150 million.
Former Morgan Stanly equity co-head Ian Laming is confirmed as chief operating officer of the recently established real estate investment manager, Tristan Capital Partners.