In the spirit of Spring, this Bulletin focuses on growth—in the diversity of fund structures available to investors; in positive reforms in West and Central Africa and in the regulation of European venture capital; and in support for fund managers when implementing environmental, social and governance (“ESG”) requirements throughout their… Read More
A manager seeking to deepen its track record or build a relationship with a prospective investor may seek to raise capital on a deal-by-deal basis or by offering investors a pledge fund structure. In a deal-by-deal fund, a dedicated vehicle will be created for purposes of making an… Read More
As private equity becomes a more significant source of financing in emerging capital markets, particularly in sectors with long-term return horizons such as infrastructure, health, finance and education, private equity sponsors are increasingly seeking evergreen investment alternatives to the term-limited closed-end private equity fund. These evergreen alternatives typically take… Read More
Recognition among private equity investors of the material risks and opportunities posed by environmental, social and governance (ESG) issues has swelled in recent years. As of 2013, more than 130 limited partners and 150 private equity firms had become signatories to the United Nations-supported Principles for Responsible Investment (PRI),… Read More
In February 2014, The European Private Equity and Venture Capital Association (EVCA) published an overview of the European Venture Capital Fund Regulation, (“EuVECA”), a July 2013 regulation that grants qualifying venture capital managers the ability to market to qualified investors throughout the European Union on a single passport. The… Read More
South Korea Lowers Barriers for Retail Investors Source: Yonhap News Agency, AVCJ, Kim & Chang Legal Newsletter South Korea’s Financial Supervisory Commission will allow domestic retail investors to indirectly invest in private equity, thereby broadening access to the asset class for investors and growing the pool of capital available… Read More
26 March 2014, Washington, DC – The Emerging Markets Private Equity Association (EMPEA) announces today that it has appointed Michael Barth to serve as a Senior Advisor to the organization. Michael has had a long and distinguished career in global emerging markets investing. He is currently Managing Partner of Washington based Barth… Read More
Tom Barry is the CEO and Founder of Zephyr Management, a global emerging markets investment manager that specializes in the creation and management of private equity and marketable securities funds. Tom discusses the rationale behind his firm’s investment strategy and candidly shares his views on what he sees as the… Read More
In keeping with our monitoring of issues in both emerging markets and the developed markets that so often shape reforms elsewhere, this tenth issue of the EMPEA Legal and Regulatory Bulletin looks at developments impacting investors in South Asia, the Middle East, China and Europe. Orrick, Herrington & Sutcliffe’s John… Read More
The European Private Equity and Venture Capital Association (EVCA) published an analysis of the circumstances under which European and non-European private equity fund managers are able to market their funds under national placement rules across Europe as of 22 July 2013. This is the day the EU Alternative Investment Fund… Read More
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