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...Joseph Cotterill reports on the group’s meeting from Johannesburg. 5....
...The roughly $7bn enterprise value on that deal — a multiple of about 13 times CAA’s earnings before interest, tax, depreciation and amortisation in its latest financial year — represented a considerable...
...Corporation tax is a tax on investment not on shareholders, corporation tax revenue should be reduced to zero....
...African start-ups raised about $5bn in private markets, notably in venture capital, in 2021, according to data and estimates from the African Private Equity and Venture Capital Association (AVCA), an investor...
...Lucy Fisher Do you think they’re gonna tackle some of the sort of tax reliefs that, you know, are very much sort of targeted at vested interests and, frankly, quite regressive?...
...FT’s George Parker, Michael O’Dwyer and Joseph Cotterill reported....
...Reeves said the current regime on carried interest meant tax breaks for fund managers averaging £170,000 per person....
...Then, there was a large rise in private sector debt, including consumer credit and mortgage equity withdrawal. Likewise, what happens to the private sector balance sheet now will be critical....
...[Is] a $2bn fund enough to make a difference if the majority of the global economy, with nearly $6tn in private equity alone and some $360tn of global wealth overall (3,000 times and 180,000 times larger...
...Yet the UK government is also considering reforms of capital gains tax that could hurt the private equity industry’s lucrative carried interest tax break....
...Tax rises likely will place a bigger role in the forthcoming consolidation than in the early 2010s, given that the government has ambitious plans for investment and faces pressures on public spending from...
...The internal rate of return on Flikpkart, about 29 per cent is similar to that enjoyed by private equity groups....
...Assuming a £100m raise, completion at the end of March, a 40% discount to the closing share price of 10/03/20, and 1.25% pre-tax (1.0% post-tax) saving on the interest (low as Costain will maintain £60m...
...Despite speculation about tougher regulations, the interest from private equity firms showed no signs of diminishing....
...“These firms have figured out that the markets do not place much value on carried interest [the 20 per cent share of investment profits that is traditionally paid to fund managers],” says a banker who holds...
...Parents of university students who face paying a rate of over 6 per cent on their student loans from the moment they take them out are choosing instead to help their children by taking out a bigger mortgage...
...Joseph Cotterill is the FT’s Southern Africa correspondent. Additional reporting by Andrew England Follow @FTMag on Twitter to find out about our latest stories first....
...Just think of venture capital, private equity and sovereign wealth funds and the shrinkage of public markets. Up to $1tn of stock buybacks a year in the US alone....
...equity groups and mutual funds....
...The effect will be bigger on exporting firms....
...KKR will be in the hands of Scott Nuttall and Joseph Bae. Mr Bae was responsible for building KKR’s Asian business from nothing to the dominant private equity player in the region....
...Mr Schwarzman has also been at the centre of the controversy about the preferential tax treatment that private equity funds receive....
...David Piling, the FT’s Africa editor and Joseph Cotterill, southern Africa correspondent, have written a long-read on the ’slow motion coup’ here....
...Britain’s private equity executives are adjusting to a new era after legislation revealed how much more tax they will have to pay on their profits....
...Private equity executives have long attracted controversy on both sides of the Atlantic for paying tax on carried interest as a capital gain rather than as income which is taxed at a higher rate....
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