Regulatory update
14 January 2021
ESMA reminds firms of MiFID II reverse solicitation rules
The regulator notes that since the UK’s Brexit transition period ended on 31 December 2020, some questionable practices by firms around reverse solicitation have emerged
13 January 2021
ESMA and FCA agree MMoU on information exchange
The MMoU explains the FCA’s and EEA authorities’, “willingness to cooperate with each other to maintain confidence in the financial system and preserve financial stability in their respective financial markets
11 January 2021
The ESG tech wave
From static and infrequent DDQs to real-time, performance linked, fully integrated improvements; ESG is fast-becoming a tech play
18 December 2020
Irish Funds welcomes LP reform
The trade body predicts The Investment Limited Partnerships (Amendment) Bill 2020, passed in the Dáil, will create 3,000 jobs by 2025 and attract up to €20bn of global private capital each year
17 December 2020
The conversation: Trends in 2021 and beyond
InCloudCounsel founder and CEO Troy Pospisil examines patterns established in 2020 and how they will impact the next few years in private capital markets
16 December 2020
LISTEN: InCloudCounsel’s Pospisil on the future
Troy Pospisil explores how the regulatory landscape for private capital funds is evolving, how investor demands are changing and how InCloudCounsel’s offerings aim to support these developments
14 December 2020
Class of 2020
A cross-section of industry practitioners share their greatest lessons of this year
11 December 2020
BVCA launches Capital Gains Tax committee
Committee has been created in response to the UK Government’s ongoing tax investigation that has prompted fears of a CGT hike
9 December 2020
LISTEN: InCloudCounsel’s Pospisil on document abstraction
Alice Murray talks to Troy Pospisil, founder and CEO of InCloudCounsel about what it is, how it works and how it supports private equity legal teams, as well as the wider organization.
8 December 2020
2020 in review: Regulatory complexity
A look back at the regulatory transformation around the AIFMD in the private equity market in 2020
7 December 2020
NAVs won’t return to pre-pandemic levels until 2022
80% of Duff & Phelps survey respondents believe up to 30% of private market investments won’t recover their pre-pandemic values until 2022 or beyond
2 December 2020
LISTEN: InCloudCounsel’s Pospisil on private equity roots
In the first instalment of our mini podcast series, Alice Murray talks to Troy Pospisil, founder and CEO of InCloudCounsel about the company’s origins: what drove him to set up the firm and how it has developed over the past seven years.
30 November 2020
Throgmorton launches CFO & COO Solutions
Throgmorton has launched an outsourced service for the CFO and COO function.
16 November 2020
No place like home: finding the right fund domicile
Predictability, reliability and quality are key components, according to our expert panel
26 October 2020
Comment: The ‘new office politics’
IC Intelligence chief strategist Dr Desné Masie, says the worst isn't over for real estate funds
22 October 2020
Fund managers fall short on governance
A large number of previously authorised fund managers have failed to implement the governance framework set out by the Central Bank of Ireland
22 October 2020
DAC6: what it means for LPs
Natalie Psaila, counsel in the London Tax Group at Hogan Lovells, details the circumstances in which the DAC6 rules are most likely to be relevant to investors in private equity funds
19 October 2020
Comment: Can public subsidy and private equity co-exist?
Covid-19 has thrown the industry into an unwanted spotlight - and now the taxman cometh
13 October 2020
WATCH: No place like home: finding the right fund domicile
Predictability, reliability and quality are key components, according to our expert panel
12 October 2020
Held to account: why is it so hard for PE to open bank accounts
GPs are waiting up to nine months to open SPV accounts, and its easy to see why
1 October 2020
Private equity’s return to work
Taylor Wessing partners Emma Danks and Helen Farr outline the key litigation risks of returning to the office
28 September 2020
Ocorian acquires Newgate Compliance
The deal furthers Ocorian's service offering to asset managers operating in the regulated UK market.
28 September 2020
LemonTree creates advisory board
Mahmoud Warriah is advisor for accounting and Toby Norfolk-Thompson is advisor for banking and tax
21 September 2020
Comment: Cross-border marketing of funds
Richard Small, partner of Addleshaw Goddard, deciphers increasing complexities around crossborder marketing rules
17 September 2020
Profile: Debojit Mukherjee, Agilitas Private Equity
The chief operating officer discusses what attracted him to his role, how the firm measures and tracks ESG and why their Sustainable Value Creation report is so important
10 September 2020
A true alternative
From alternative law firm to publicly listed full-suite asset management consultancy, MJ Hudson has had an outstanding decade
1 September 2020
Culture shock
Culture's intrinsic link to behaviour means private equity must think carefully about how it navigates the crisis
27 August 2020
Comment: Compliance and ESG - Overhead or value-driver?
The crisis will likely bring about more stringent financial and environmental regulations; cutting compliance and ESG resources could bear greater costs, warns Robin Lööf and Edoardo Troina at Debevoise & Plimpton
24 August 2020
Comment: Navigating capital calls
Lydia Danon and Shelley Drenth of law firm Cooke, Young and Keidan, outline practical steps PE firms ought to be taking to mitigate potential capital call conflicts
24 August 2020
UK GPs spend $8.6m on legals annually
A new report has revealed how much private equity firms are spending on external legal counsel
19 August 2020
Comment: Why PE firms should consider hedging management fees
Lee McDarby of moneycorp says GPs ought to be thinking about hedging management fees as market turbulence looks set to continue
12 August 2020
Comment: Private equity and CBILS
Ed Hobbs, partner of law firm Ashfords, tracks the challenges faced by PE houses accessing the UK Government’s rescue schemes
10 August 2020
Private Equity Service Provider Awards: Shortlist Announced
Announcing the finalists for the 2020 Private Equity Service Provider Awards
31 July 2020
Guernsey introduces fund migration regs
The Limited Partnerships (Migration) Regulations 2020 allows limited partnerships to relocate to Guernsey quickly and easily
27 July 2020
LIBOR limbo
While it might seem as though there’s plenty of time for managing the transition, if left too late, GPs will have to accept whatever replacement rate they’re given
23 July 2020
Steadying the ship
Can a solid operating platform provide much needed certainty in an increasingly uncertain world?
16 July 2020
Post Brexit rules come to light
The FCA announced replacement rules for investment firms, namely a new prudential regime that may hit PE houses
13 July 2020
Hong Kong passes Limited Partnership fund regime
The new bill "makes impressive strides" in attracting investment funds, including private equity and venture capital
8 July 2020
Jersey seeks feedback on LP continuance fees
The proposed fees will only affect foreign limited partnerships wanting to migrate to Jersey
2 July 2020
5 minutes with… Matthew Crisp, Wheelhouse
The CEO of Wheelhouse Advisors discusses the firm’s spinout from ACA Compliance and the key tax, regulatory and compliance developments PE firms need to be aware of
15 June 2020
Domicile watch: June 2020
Key takeaways from the major PE domiciles: including how Luxembourg, Guernsey and Jersey are adjusting their practices as Covid-19 country lockdowns are eased while Cayman highlights a fraudulent due diligence email being circulated
11 June 2020
Comment: A decade of fund finance in Luxembourg
More competition plus an increasingly complex regulatory environment requires greater sophistication and specific LPA provisions, writes Wildgen's Michael Mbayi
11 June 2020
ESMA outlines plans for fund fees and expenses
The guidance responds to calls for improving convergence across national regulators in their approach to fund costs
8 June 2020
Special sauce
The Drawdown caught up with some of the UK's leading special situations investors to find out how they've been reacting to the crisis
5 June 2020
ESMA updates MiFID II compliance guidelines
The final draft replaces the 2012 guidelines and provides more clarity on implementation and supervision of new MiFID II compliance function requirements
18 May 2020
Comment: Secondaries legal issues and risks
Jonathan Blake, Stephen Newby and Shantanu Naravane at Herbert Smith Freehills consider investor liquidity in private funds, GP-led secondaries, principal legal issues and key risks
11 May 2020
Join us: CFOs & FD networks
Part one of our mini series on networks in PE: this instalment considers CFO & FD networks and finds they can be more hindrance than help
5 May 2020
The Private Equity Editor’s Podcast 3
Through our combined expertise of PE investments to operations - and everything in between - this snappy podcast neatly distils the need-to-know market developments of the last week.
28 April 2020
Proposed ESG disclosures open for consultation
This is the next step in increasing clarity around ESG reporting, and gives some idea of what might be expected of firms going forward
23 April 2020
ESMA, FCA extend annual reporting deadlines
The guidance is for private fund managers following the Alternative Investment Fund Managers Directive
30 March 2020
COVID-19: Economic substance adjustments
Could temporary measures drive global consensus on economic substance requirements?
27 March 2020
Hazard warning: valuations in the midst of volatility
Key considerations for valuing portfolio companies in current conditions
27 March 2020
IPEV releases statement on fair value
LPs have a critical need at 31 March 2020 for their GPs to report underlying investments at fair value on a timely, consistent and rigorously determined basis.
20 March 2020
Guernsey and Jersey adjust substance requirements
Guernsey and Jersey have collectively adjusted their requirements for economic substance amid the outbreak of Covid-19, to help reduce the spread of the virus
9 March 2020
PE faces tighter remuneration rules
Bank-style regulation continues to extend to private capital markets, says Linklaters
17 February 2020
Face value
A group of venture capital CFOs sat down with The Drawdown to discuss challenges of valuing pre-revenue companies and implications of the new IPEV guidelines
9 January 2020
Valuations what’s new, what’s not and what matters
A round-up of recent regulatory developments for private equity valuation practices
19 December 2019
Take the risk
The cultural shift towards robust risk management is finding its way to private equity, and with it, the potential to unravel entrenched structures.
16 December 2019
Craic on
Reforms to Ireland’s LP structure will likely be legislated in early 2020, however, after years of promises, what will actually be legislated and will PE care?
16 December 2019
Romania approves New AIF Law
Updated law better aligns Romania with recent EU developments