North Carolina Threatens to Cancel Toll Road Project, Showing Political Risk of Infrastructure Deals
North Carolina’s House has voted to exit a toll road deal despite high expected cancellation costs.
Read more...Category Archives: Private equity
HR 5424, “Investment Advisers Modernization Act,” a “Get Out of Madoff and Other Frauds for Free” Bill, Passes Financial Services Committee
HR 5424, intended to make life even easier for potential securities law abusers, got considerable support from Democrats on the Financial Services Committee.
Read more...CalPERS-TH Lee Row Over Private Equity Fee Abuses Demonstrates Failure of SEC Oversight
CalPERS’ inability to get TH Lee to disgorge ill-gotten fees shows how hopelessly one-sided private equity investing really is.
Read more...Financial Times Exposes McKinsey’s Secret, Conflict-Ridden In-House Hedge Fund
McKinsey’s heretofore secret in-house investment unit has troubling conflicts of interest.
Read more...Investment Case Study: Some Oxford Dons Take Skeptical Look at Yale and Canadian Investment Fads, Um, Models
Believe it or not, a case study on major approaches to investing that is both informative and fun to read.
Read more...The SEC Fines a Private Equity Firm for Broker-Dealer Fee Violations. Are KKR, Apollo, Blackstone, TPG, Carlyle and Lots of Others on Its Hit List?
The SEC finally fined a private equity firm for broker-dealer abuses. Is this just a shot across the bow or will bigger firms pony up too?
Read more...SEC Official Defends Weak, Selective Enforcement When Agency Records Show Private Equity Firms Thumb Nose at Agency
Yesterday, we looked at a section of a Stanford Law School conference at the end of March. The panel on pre-IPO funding included the SEC/s head of enforcement, Andrew Ceresney. In the question and answer section, Ceresney and a member of the audience, Marc Fagel, the former regional director of the SEC’s San Francisco office, […]
Read more...SEC Conference Features Former Official Calling for Fraudsters to be Protected from Career Harm
No matter how bad you think things are at the SEC, you routinely find out that they are worse, as a recent conference revealed.
Read more...Hall of Shame: HUD Finally Forces Private Equity Buyers of Distressed Mortgages to Give Real Modifications After Years of Complaints Now That HUD Chief is on Clinton VP List
HUD finally acts on a festering problem, apparently to improve the odds of HUD chief Julian Castro getting a plum Clinton Administration post.
Read more...Hedge Fund Comeuppance: Firms Hunker Down, Start to Cut Fees as Investors Wise Up and Withdraw Money
Years late, investors are finally waking up to the fact that hedge funds overpromise, overcharge, and underdeliver.
Read more...Tough Private Equity Transparency Bill in Illinois Focuses on Indefensible Contract Terms, Beats California Bill on Fee Disclosure Requirements
A new private equity transparency bill sponsored by Illinois Senator Daniel Biss is more extensive and effective than similar legislation pending in California.
Read more...Mania in Private Equity as Investors Throw Money at Funds
Private equity investors are throwing caution to the wind as even more money chases funds.
Read more...Worst Example Yet: Unconscionable Apollo Clause Illustrates Depth of Capture of Private Equity Investors
A spotlight on one of the most rancid “heads we win, tails you lose” features of private equity agreements: sweeping indemnification provisions which no fiduciary should accept.
Read more...Our Bloomberg Story: Don’t Let Private Equity Dupe California
Path-breaking private equity legislation is being weakened by insiders and the public is being shut out completely. Don’t let it happen.
Read more...Sun Capital Ruling: Private Equity Investors on the Hook for Shuttering Underfunded Pensions
A ruling against private equity general partner Sun Capital delivered a nasty surprise to investors.
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