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Views from the Field: Assessing Challenges and Opportunities for Private Equity in Russia and CIS

March 16, 2016
Private equity in Russia and the Commonwealth of Independent States (CIS) has been buffeted in recent months and years by successive political and economic crises, most notably currency depreciation, declining… Read More

Legal & Regulatory Bulletin – Issue No. 16, Winter 2016

February 5, 2016
We are delighted to share with you the 16th issue of the EMPEA Legal and Regulatory Bulletin. Our contributors explore the changing nature of the legal and regulatory environments in… Read More

Unlocking Pension Funds for Impact Investing

February 5, 2016
In October 2015, the impact investing industry took a momentous step forward. Department of Labor Secretary Thomas Perez repealed restrictive guidance that prevented pension funds from engaging in impact investing.… Read More

Investment in the Power Sector in Emerging Markets

February 5, 2016
Introduction  As the world’s energy dynamic is changing in response to powerful economic, security of supply, and environmental forces, investment in and deployment of power infrastructure is becoming increasingly focused… Read More

Accessing Chinese Investors: A Quick Regulatory Update

February 5, 2016
Fundraising from Chinese investors is generally restricted by China’s foreign exchange control regulations and other regulations concerning outbound investments. As a result, for offshore fund managers seeking capital from China,… Read More

Conduits of Capital: Onshore Financial Centres and Their Relevance to African Private Equity

October 27, 2015
Introduction Across the emerging markets, private companies face two persistent growth constraints: expansion capital and expertise. Frequently, small and mid-size businesses are unable to secure bank lending to finance their… Read More

Conduits of Capital: Onshore Financial Centres and Their Relevance to African Private Equity

October 27, 2015
Introduction Across the emerging markets, private companies face two persistent growth constraints: expansion capital and expertise. Frequently, small and mid-size businesses are unable to secure bank lending to finance their… Read More

Legal & Regulatory Bulletin – Issue No. 15, Fall 2015

October 14, 2015
This issue of the Legal Bulletin reflects the changing nature of the legal and regulatory environments in which emerging market private capital investors raise capital, operate and invest. Our contributors… Read More

The Extension of the AIFMD Passport to non-EU Structures: False Dawn?

October 13, 2015
The AIFMD marketing passport could be extended to some non-EU managers and funds marketing to professional investors in the EU. Such is the advice from ESMA in relation to the… Read More

Private Equity in Africa: Is It More Difficult and How Can the Lawyers Help?

October 13, 2015
In 2014, PE funds invested US$8.1bn in African businesses. When measured against the US$1.5bn worth of PE investments made in Africa during 2009, this is a major increase that approaches… Read More

Hong Kong Expands Existing Offshore Funds Tax Exemption to Benefit Private Equity Funds

October 13, 2015
Introduction  On 17 July, 2015 Hong Kong enacted legislation1 to expand the existing offshore funds tax exemption to benefit nonresident private equity funds. The expanded exemption (the “2015 Amendment”) applies… Read More

How Can Fund Managers Integrate ESG Best Practices Into the Investment Life Cycle of EM PE?

October 13, 2015
CDC Group plc, the UK’s development finance institution (“DFI”) has been investing in businesses in emerging markets for nearly 70 years. Since the early 1990s CDC has played a significant… Read More

EMPEA’s Response to HM Treasury’s Proposal

October 5, 2015
EMPEA welcomes the opportunity to respond to HM Treasury’s Proposal on using Legislative Reform Order to change partnership legislation for private equity investments (July 2015) and submits this response on… Read More

Views from the Field: Assessing the State of Venture Capital in Emerging Markets

September 2, 2015
Emerging markets (EM) venture capital (VC) activity—in terms of number of deals completed and total capital invested, and as a percentage of overall EM private investment activity—reached record highs in… Read More

First-time Funds in Emerging Markets

July 31, 2015
  Why Do First-time Funds Matter?  First-time funds, defined here as an asset manager’s first private equity (PE) vehicle, have historically accounted for a significant share of fundraising activity in… Read More