Jennifer Harris
Senator Debbie Stabenow’s comments could mean that GPs can breathe a sigh of relief, but the fate of carried interest is far from clear.
Laura O’Neill will continue to focus on corporate real estate, infrastructure and the emerging markets of Africa and India at competitor Greenberg Traurig.
Laura O’Neill will continue to focus on corporate real estate, infrastructure and the emerging markets of Africa and India at competitor Greenberg Traurig.
Draft legislation, which would require all private equity, private equity real estate and hedge fund managers with more than $150m in assets to register with the SEC, must now face a test in the Senate.
The bill, which would require all private equity and hedge fund managers with more than $150 million in assets to register with the SEC, must now face a test in the Senate.
US House Ways and Means Committee chairman Charles Rangel has introduced the Tax Extenders Act of 2009, which would tax carried interest as ordinary income rather than capital gains. Similar tax plans have come up short in the Senate.
A bill sent today to the US Senate would impose a 30% withholding tax on US income for foreign fund managers who fail to agree to new transparency requirements.
If carried interest is taxed as ordinary income in the US, as is proposed by a new bill in Congress, GPs will have to make Medicare contributions of 2.9 percent out of their carry.
The deal will dramatically increase the Connecticut-based financial software and services provider’s private equity client base.
Senator Chris Dodd has written a discussion draft of legislation that would only require hedge funds to register as investment advisers.