Jenna Gottlieb

The US regulator plans to raise the net worth required of an investor in order for advisors managing their money to charge performance fees.

The New Mexico State Investment Council has filed state and federal lawsuits against Saul Meyer, Gary Bland, and Daniel Hevesi, among others, for steering investments to particular managers.

The US Securities and Exchange Commission has ramped up its focus on private equity, looking at marketing materials, valuation metrics and side letters. These topics, among others, were covered at PEI's 2nd annual Private Fund Compliance Forum in New York.

Regulation 28 of South Africa's Pension Funds Act, which will be effective from 1 July, could result in a surge in assets under management in the private equity space.

New York Governor Andrew Cuomo has made permanent a ban on elected officials, lobbyists and placement agents from doing business with New York’s pension fund.

Rafique DeCastro oversees private equity fund due diligence, portfolio construction and monitoring for New York City’s $115bn pension system. He formerly worked at Credit Suisse’s Customized Fund Investment Group.

Former New York state comptroller Alan Hevesi was sentenced to up to four years in prison for his involvement in New York’s massive pension pay-to-play scandal that rocked the private equity world and tarnished the image of placement agents

Now that the US Congress has avoided a government shutdown by passing a 2011 budget, attention shifts to the 2012 budget. A carried interest tax hike may be enacted to help pay for spending cuts.

The directive would allow VC funds in the EU to invest in other EU member states. The impact on US-based firms is not clear, but the NVCA, led by Mark Heesen, is 'watching carefully'.

The law firm named Marcia Ellis as a partner, its fourth Hong Kong-based hire in the past year.