Tuesday, 30 September 2014
Last updated 5 hours ago
Oct 15 2007 | 7:55am ET
Last year was a profitable one for private equity giant CVC Capital Partners, and its top brass are laughing all the way to the bank. One of Europe’s largest private equity, firms, CVC has revealed that it paid its top partners £250 million (US$509.1 million) in 2006.
Chairman Michael Smith and senior London partner Donald Mackenzie received £50 million (US$101.8 million) each. London partners Jonathan Feuer and Rob Lucas, and co-founder Hardy McLain, are also reportedly among the recipients.
The payout quickly, and predictably, drew fire from Britain’s unions, which have criticized the amount of tax private equity executives pay. And just last week, Alistair Darling, the Chancellor of the Exchequer, proposed radical changes to the capital-gains tax regime, which would make private equity firms liable for 80% more taxes than they already pay on their income.
The same debate, over how much tax private equity and hedge fund firms pay on management fees—also known as carried interest, is raging on this side of the pond.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...