Gervasoni, Anna (Hrsg.): Private Equity and Venture Capital. Regulation and Good Practice. Incisive Media 2014.
After the crisis, private equity and venture capital firms are operating in an increasingly uncertain environment, with economic fragility and market volatility making investment sluggish. The industry faces difficult questions from regulators and legislators who are scrutinizing regulatory, compliance, and tax issues. The days of self-regulation are gone.
Regulations such as the Alternative Investment Fund Managers Directive and the European Venture Capital Funds regulation have been introduced, leading to a significant transformation of the private equity and venture capital markets. But many private equity managers have yet to fully achieve the compliance targets and meet new standards. Firms are also preparing for potentially higher tax burdens on portfolio and management companies, but struggling with the many unanswered questions about potential tax legislation reform.
Editor Anna Gervasoni, who has been General Manager of the AIFI - the Italian Private Equity and Venture Capital Association - for almost three decades, sets out the trajectory of the private equity and venture capital markets in the wake of the financial crisis.
A team of expert contributors presents an overview of the characteristics and trends of these markets within the context of the new rules which are permanently changing the landscape.
Key chapters cover:
- The evolution of the private equity and venture capital markets in Europe;
- Fundraising, investment and divestment activities;
- Impact of the AIFMD and EuVECA and the new market opportunities they present;
- FATCA and MiFID: application and consequences;
- The relationship between the public sector and private players; and
- Investment structures and tax legislation.