Friday, 27 March 2015
Last updated 5 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…