FT.com / Lex / Alternative Investments – Private equity disclosure. I admit I’m no fan of Mike Rake. He headed KPMG to near disaster and a $456 million fine during his tenure as worldwide senior partner. How and why he got a knighthood and got further work after leaving that firm beats me. But he
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Private equity firms using company debt to enrich themselves, says report | Business | guardian.co.uk . From the Guardian: Private equity firms are increasingly saddling companies with debt to pay themselves hefty bonuses, according to an industry-sponsored study. A group of 47 private equity-owned businesses – including United Biscuits, sports chain Fitness First and casino
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FT.com / Companies / UK companies – Moulton quits as Alchemy head. Jon Moulton, one of the founding fathers of the UK private equity industry, has resigned as head of Alchemy Partners. He announced his departure with a vitriolic attack by letter on the firm he founded in 1997. “The state the firm is now
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FT.com / Companies / UK companies – Nearly 75% of private equity exits end with receiver. Nearly three-quarters of all UK private equity exits ended in administration in the three months to June, underlining the scale of challenges facing the industry as the value of new buy-out deals shrank to a 14-year low. Out of
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Private equity does a u-turn | ToUChstone blog: A public policy blog from the TUC. Tax havens, banks and private equity appear to be in maximum misinformation mode right now. Do they really think we’re stupid?

Reuters has reported that: Private equity investors are threatening to leave the Netherlands due to a proposed law that could raise the tax they pay on investments to as much as 52 percent from 1.2 percent currently, investors said on Wednesday. “If the government is proceeding with this law there is no reason for us
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The Budget contains revisions to the rules for employment related securities relating to people who are resident but not ordinarily resident in the UK. These rules get so close to making the private equity carry chargeable to income tax for some non-domiciled people. But then you have to remember that the BVCA rules deem the
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The Independent ran a front page story on the cost of tax havens to Europe. It’s not 100% accurate but the location of the story in the paper gives some indication of how they view this. The Guardian covered the fact that both the Treasury building and the Home Office are now owned through offshore
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The Independent reports that: Simon Walker, chief executive of the British Private Equity and Venture Capital Association (BVCA), has warned that growing resentment of government tax changes could cause as many as 100 buyout firms to quit Britain for tax havens abroad. He said that he was aware of an increased number of approaches from
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