Terms & Conditions

A recommendation to digitise stamp duty payments could expose fund managers restructuring, reorganising or transferring partnerships to more tax.

The debate over waterfalls has always been presented as a choice between two opposing styles, but it doesn’t have to be that way. Augentius’s Gaurav Marwah and Hugh Stacey tell us why.

Guidance announced this week on how subscription lines should be used by fund managers comes at a time when the industry is getting to grips with best practice on this now controversial issue.

Quarterly reports to investors must be explicit on the use of subscription credit lines, while LPs must ask for data that discounts the impact of borrowed cash, the lobby group recommends.

Is investor focus on key person clauses misguided?

Just 28% plan to increase their exposure to the asset class, down from 39% six months ago, the firm’s latest survey has found.

Demand for subscription credit lines is now being driven by the needs of separate accounts, say Jeff Johnston and Mike Mascia of the Fund Finance Association.

The €16bn Fund VII commanded €30bn of interest, despite a 6 percent hurdle rate and no early-bird discount.

The €16bn fund, the largest euro-denominated vehicle in private equity history, includes a €500m GP commitment.

The firm, which also invests in corporate carve-outs and buyouts, has allocated about a third of its capital to distressed investing since inception.