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Although a number of private equity sponsors tout their ability to unlock value by rescuing corporate orphans, the job of buying subsidiaries and divisions of larger corporations and unraveling the assets and liabilities of a business from its corporate parent is not for the faint of heart.
As counterintuitive as it may seem for private equity firms to subject themselves voluntarily to SEC reporting regimes, those firms that might otherwise risk inadvertently becoming ensnared in the SEC’s new reporting regime for large traders should consider a protective voluntary filing.
High yield bonds with registration rights have been a fixture of private equity transactions for over thirty years, notwithstanding changes in law and predictions to the contrary.
There is finally some good news from Washington for the private equity industry and in particular its portfolio companies.
The September 2011 changes to the UK City Code on Takeover and Mergers seek to level the playing field between bidders and targets and, in particular, to reduce the effectiveness of “virtual” bids. Since the Code was amended, there has been limited M&A activity in the UK and it is still difficult to assess the full impact of the changes.
Private equity buyers may be required to disclose more information about their debt financing under the new UK takeover rules, including potentially commercially sensitive information about market flex terms.
Once private equity became a mainstream asset class, appropriate comparisons to the public markets and other asset classes became critical. If a significant portion of an investment was tied up in the unrealized portion of a private equity portfolio, having accurate estimates of valuation became critical to contemporaneous performance metrics.
  • Jesse Reyes
A discussion of due diligence in Russia completes our four-part series on doing due diligence in the BRIC countries, which represent the world’s largest emerging markets.
How many private equity funds in China are targeted at domestic investors? No one seems to know. Asia Private Equity Review reports 472, while the AVCJ Database has recorded 1,150. Regardless of the number, however, one thing is clear: the market for domestic Chinese private equity funds is booming.
Tracking the regulatory developments impacting private equity in the UK and EU could be a full time job. In fact, it is for many lawyers, lobbyists and other practitioners.
The Private Equity Report Editorial Board

This report is a
publication of
Debevoise & Plimpton LLP
www.debevoise.com

EDITORIAL BOARD
 

Paul S. Bird
Editor-in-Chief

Andrew M. Ahern
Jennifer L. Chu
Rafael Kariyev
Scott B. Selinger
Simon Witney

Alicia E. Lee
Associate Editor

FOUNDING EDITOR

Franci J. Blassberg

All contents @2018 Debevoise & Plimpton LLP. 
All rights reserved.




 

 

 

 

 

 

 

 


 

 


 


 

 

 

 

 

 

 

 

The Private Equity Report

Winter 2012
Vol. 12, Number 2
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