Law - Regulation

Hard act to follow

Will Rosen of DLA Piper explains what the Companies Act 2006 means for private equity firms and their directors.



All that glitters

Higher bond yields have cut pensions liabilities, making potential targets seem falsely attractive, says Chris Smith of Hewitt Associates.



Bill of wrongs

A Labour MP was the latest to attempt a broadside on the private equity industry. Fortunately, common sense prevailed, write Robert Davies and Simon Sale of Dundas & Wilson.



MERGING EUROPE

It is always worth taking into account competition regulations before embarking on a merger, say Peter Willis and Nadim Meer of Dundas & Wilson.



ROMANIA RULES

Private equity in Romania and emerging Europe is set to benefit from EU financial harmonisation initiatives, says Peter Lewis of Linklaters.



ACTING IN CONCERT

The concept of “acting in concert” is increasingly important for private equity houses whose portfolio companies are involved in takeovers and other corporate activities. We take a closer look at some recent developments relating to the definition and application of “acting in concert” in the UK and Germany.



A NEW SOURCE OF REVENUE

HM Revenue & Customs is reviewing its interpretation of the Income Tax Act after deciding that employees may be benefiting too much from share ownership, say Jessica McMichael and Louise Whitewright



FSA REPORT: OVER TO YOU

The UK private equity industry can breathe a small sigh of relief ...



CLUBBED SENSELESS

The world’s largest buy-out houses are enjoying their halcyon days ...



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LATEST ISSUE

Leader

No news is good news No news is good news

Two weeks ago, Real Deals attempted to host a good news breakfast for the private equity industry. Even cynical journalists tire of unrelenting gloom. Improbable, but true.

Top Story

Small mercies Small mercies

Less reliant on debt than their big deal counterparts, and with the promise of forced sellers and genuine growth, the lower mid-market should be well positioned to weather the downturn. But inexperienced management, resilient pricing and companies vulnerable to economic distress mean there is trouble brewing for small cap investors too.


Feature

Fair value for money Fair value for money

As the brakes are applied to the global economy, the way in which private equity firms value their portfolios is increasingly being called into question.


Comment

How do you solve a problem like sharia? How do you solve a problem like sharia?

As Islamic financial products become increasingly popular, Kai Schneider of Latham & Watkins explains how to make a fund Sharia-compliant.


News Analysis

Amadeus’s twin symphonies Amadeus’s twin symphonies

Amadeus has a proven eye for a winner, so its latest big investments have been causing a commotion in the venture community.




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