The Private Equity Council’s president, Doug Lowenstein, said at a conference Wednesday a tax hike on carried interest in the US is likely to pass – and it’s just one of several tax measures that will hit GPs in the wallet.
Though little attention has been paid to private equity fund managers in the debates over US financial regulatory reform, a planned amendment from Senator Jack Reed could make the Senate’s bill much less friendly to venture and private equity fund managers.
In a letter to its LP base, Apollo characterised an agreement to reduce CalPERS’ fees by $125 million over five years as an “enhancement” of its relationship with the pension, and said that it plans to accommodate a trend toward separate accounts.
Mohammad Almojel was previously an associate director at MerchantBridge Private Equity, and sits on the board of the Saudi-British Business Council. He is charged with sourcing capital for private equity, real estate and infrastructure funds.
EVCA, the US Treasury Secretary, ILPA and EMPEA have all recently voiced concern about measures in the AIFM that would block the free flow of capital. Nicholas Sarkozy and Gordon Brown reportedly planned to discuss the issue Friday.