Jennifer Harris

The International Monetary Fund is calling for more regulation on private equity and hedge funds, which it says fall into a 'shadow banking system', while the EVCA told its members a system of registration is in the works in the EU.

President Obama included language in his budget released yesterday that would tax carried interest as income at 39.6 percent. In other regulatory news, a bill in Congress would also require all advisors to private equity funds to register with the SEC.

The Obama administration has built into its carried interest tax revenue forecast an expectation that GPs will eventually find ways of avoiding the full impact of the new tax.

The Financial Accounting Standards Board in the US will improve its guidance on fair value and its disclosure standards, following the Securities and Exchange Commission’s suggestion.

Former Blackstone partner and Saul Steinberg protegee Henry Silverman will become the firm’s first chief operating officer. In 2007, he sold the reportedly now insolvent real estate company Realogy to Apollo for $8.5bn.

A Senate bill sponsored by Chuck Grassley and Carl Levin would require all private funds to publicly disclose the identities of their LPs, as well as the value of assets under management, if the bill passes.

The private equity firms are investing in Chinese education services provider Ambow Education as China’s education industry continues to grow.

Littlejohn & Co has moved chief financial officer Deborah Jorde to head of investor relations and fund marketing, and has hired Kenneth Warren of Quadrangle to replace her.

Just months after its Euronext-traded Carlyle Capital fund folded, the private equity firm is shutting down an affiliated hedge fund. It backed away from its previous hedge fund strategy, a fund of hedge funds, in 2003.

The Carlyle Group has added four to its West Coast offices, hiring two managing directors from Sevin Rosen and Pequot Capital, and transferring two executives internally.