Sunday, 21 December 2014
Last updated 8 hours ago
Oct 19 2007 | 7:02am ET
You’ve gotta hand it to those crafty private equity guys: Faced with a senator demanding a big hike in their taxes, they hired one of his protégés to battle the proposed legislation.
Both the Private Equity Council—which represents the Blackstone Group and 10 other private equity firms—and Kohlberg Kravis Roberts—through law firm Akin Gump Strauss Hauer & Feld—have hired Kenneth Cunningham to lobby against the tax plan.
Cunningham, not coincidentally, is the former chief of staff and general counsel for Sen. Charles Grassley (R-Iowa), one of the chief critics of the alternative investments industry on Capitol Hill and the sponsor of a bill that would expose publicly-traded private equity firms to the corporate tax rate of 35%, rather than the 15% capital gains rate they currently enjoy.
Cunningham’s new gig was revealed in required filings with the Senate public records office. He left Grassley’s office last year to start a lobbying firm.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.