Regulation & Legal

Chuck Grassley and Max Baucus, the Senate Finance Committee members considering carried interest taxation and tax on publicly traded financial partnerships, are investigating patient care at private equity-owned nursing homes.

The Association of Investment Companies, a UK trade body, has recommended the Walker report’s guidelines should be extended to all large companies because the regulations should not solely target private equity.

India’s largest private equity fund has become the latest to float a fund to cash in on India’s booming real estate sector, estimated to reach $90 billion by 2015.

EVCA, the European trade body, has argued the UK private equity industry’s attempt at self-regulation, the Walker report, should address its reservations in order to become a “European benchmark”.

New York-based private equity real estate firm Apollo has hired Cindy Wenig as general counsel to advise on its transactions in the US and abroad.

Mega-buyout firm The Blackstone Group has reportedly been cleared from allegations it offered a cut-rate price for hotel-chain operator Prime Hospitality, and has won a $25m settlement.

Having recently reported an increase in value and growth in the region, the firm’s private equity real estate arm will launch an East Africa-dedicated fund, its fifth fund in the last two and a half years.

The UK retailer could become the second FTSE100 retailer to go private after Boots Alliance, but it says it won’t sell off its real estate assets.

The US alternative assets group has sold a further 7.5 percent stake in itself to a strategic investor, valuing David Rubenstein’s firm at $20 billion. It sold 5.5 percent to CalPERS in 2000.

The European body has launched two initiatives designed to allow investors greater access to information to benchmark performance.