It’s been a bad week for the image minders in the private equity industry. First, Henry Kravis bemoaned the industry’s awful reputation, and now a tax-reform plan – floated by a Republican (gasp!) – threatens to axe its carried-interest tax goodie. Meanwhile, investors like Carl Icahn that once were reviled as “corporate raiders” have been […]
The SEC has just opened the door for broad public marketing of investments from start-ups, hedge funds and private equity firms, breaking a taboo that has been in place for 80 years. No, we’re not likely to see Henry Kravis pitch buyout funds on late-night television alongside ads for pizza and discount furniture. But some […]
Some institutional shareholders are complaining about Dell’s proposed buy-out, which would see the computer giant disappear from the public equity market behind a $24.4 billion pile of cash. But T. Rowe Price, Southern Asset Management and others think the cash pile isn’t big enough, and they are pressing CEO Michael Dell and his private equity […]
I must have missed this Reuters interview with KKR co-founder Henry Kravis last week, which isn’t too surprising because it didn’t make many waves. Based on an interview with Reuters Editor-in-Chief Steven Adler, it is the very definition of a puff piece. The article barely touched on whether Kravis believes the favorable tax treatment enjoyed […]
Here’s some free advice for Mitt Romney: Release your income tax returns now. Right now. Don’t wait “until April” as you’ve said in the past, or give a vague estimate of your effective tax rate, as you did earlier today. Do it now so you can address facts, instead of conjecture and speculation. According to […]
Andrew Ross Sorkin’s DealBook column profiles Paul Levy, a PE manager who makes a good defense of private equity: “We want to build businesses,” Mr. Levy said earnestly. “Nobody wants to fire people. We want to retain all of the value-added, high-quality people that work at these companies. But it’s like any other endeavor. If […]