ESMA Third Country Cooperation Arrangements under AIFMD

The European Securities and Markets Authority (“ESMA”) announced on 18 July 2013 that it has approved global supervisory cooperation arrangements between the securities regulators of the European Union and their third country counterparts. The arrangements were negotiated by ESMA on behalf on the EU Member States, the additional three countries… Read More

The Changing Landscape of Private Equity Fund Formation (2013)

The pillars of the conventional fund model in emerging markets remain largely unchanged, however the wave of regulation globally and continuing evolution in LP-GP dynamics are yielding some important shifts in fund terms and structures with implications for governance and operations at the fund level. On 25 June 2013, EMPEA… Read More

The Legal Challenges of Private Equity Deal Making in Africa

Private equity is a longstanding component of Africa’s economic landscape. However, strong growth, an expanding middle class, and a global trend that is seeing more investors seeking growth from a broader and more varied range of markets is driving an increased interest in the region. In 2007, Sub-Saharan Africa… Read More

Legal & Regulatory Bulletin – Issue No. 7, Autumn 2012

letter from the chairman This issue of the Legal and Regulatory Bulletin follows on a full week of very well attended and highly engaging EMPEA summits in London in late October. The topic of risk figured prominently during many of the sessions, with commentary ranging from tactical suggestions for identifying… Read More

Marketing Private Funds in the Middle East

In the past, managers promoting private funds in most countries in the Middle East—with the notable exception of Saudi Arabia—have not found much difficulty navigating local rules. Foreign fund managers would typically fly in, meet with clients, sign subscription agreements, and fly out a few days later without worrying… Read More

Africa: Maximizing Investment Opportunities While Minimizing Risk

African markets, boasting 10 of the top 20 fastest growing economies in the world and five of the world’s top 10 reformers in 2012 according to the World Bank’s Doing Business rankings, hold exceptional promise for private equity investors. However, the lack of transparency and underdeveloped legal systems and… Read More

Managing Political Risk in Emerging Markets

This article seeks to build a deeper understanding of political risks likely to be encountered by private equity investors in emerging markets by examining a number of key risks, suggesting appropriate mitigants for such risks and looking at some of the practical implications of using these solutions. Read More

Legal & Regulatory Bulletin – Issue No. 6, Summer 2012

We were delighted with the warm reception the EMPEA Legal and Regulatory Guidelines received on their recent release. The EMPEA Guidelines are a pioneering reference for policymakers and regulators wishing to understand the elements of legal and tax regimes most critical to the development of private equity in developed and… Read More

Anti-Corruption: Guidance for EM PE Practitioners

On 29 March, EMPEA hosted a professional development webcast on Anti-Corruption Policies: What Every EM PE Practitioner Should Know, with perspectives from Sam Eastwood of Norton Rose, Laura Friedrich of Shearman & Sterling, Shaistah Akhtar of SJ Berwin and Bill Currier of White & Case. EMPEA Members can access a replay of… Read More

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