Nicholas Donato

Following much demur from the buyout industry, the Australian government has released draft legislation addressing tax uncertainties, although they are unlikely to fully appease GPs.

Just as Washington DC gears up for another debate on the deficit, the influential investor is once again taking aim at the private equity industry.

In a controversial case that cast doubts over how the UK would interpret its double tax treaty with the US, Harbourvest boss George Anson failed to convince a UK tribunal he was taxed twice on his US-sourced profits.

Investors want less ambiguity in their partnership agreements, leading GPs to nail down precisely what rights and obligations LPs are afforded in the fund.

The industry’s European lobbying arm has welcomed the continent’s proposal for a venture capital marketing passport, saying it would help drive growth in the struggling region.

UK Defence Secretary Liam Fox has been forced to admit he was aware of a legal battle between a US company and a private equity firm working with his department, although he denies further involvement.

The Arab peninsula has long made it relatively difficult for foreign groups to access its investors, but rumour has it that things will change.

The EU government’s new oversight powers on fund managers’ compensation has left the industry concerned with how to report carried interest payments.

In line with its pledge to do more direct private equity deals, the Canadian pension fund will buy ship servicing company V.group in a deal worth $520m.

Management fees more than triple what GPs earn from performance-based carried interest, according to research exclusive to sister site PEM which could fuel the industry’s debate over private equity fee structures.