Private Equity and Venture Capital

A Q&A guide to private equity law in Brazil. This Q&A is part of the PLC multi-jurisdictional guide to private equity. It gives a structured overview of the key practical issues including, the level of activity and recent trends in the market; investment incentives for institutional and private investors; the mechanics involved in establishing a private equity fund; equity and debt finance issues in a private equity transaction; issues surrounding buyouts and the relationship between the portfolio company's managers and the private equity funds; management incentives; and exit routes from investments. Details on national private equity and venture capital associations are also included. To compare answers across multiple jurisdictions, visit the Private Equity Country Q&A tool. For a full list of jurisdictional Q&As visit www.practicallaw.com/privateequity-mjg.

A Q&A guide to private equity law in Hong Kong. This Q&A is part of the PLC multi-jurisdictional guide to private equity. It gives a structured overview of the key practical issues including, the level of activity and recent trends in the market; investment incentives for institutional and private investors; the mechanics involved in establishing a private equity fund; equity and debt finance issues in a private equity transaction; issues surrounding buyouts and the relationship between the portfolio company's managers and the private equity funds; management incentives; and exit routes from investments. Details on national private equity and venture capital associations are also included. To compare answers across multiple jurisdictions, visit the Private Equity Country Q&A tool.  The Q&A is part of the PLC multi-jurisdictional guide to private equity law. For a full list of jurisdictional Q&As visit www.practicallaw.com/privateequity-mjg.

A Q&A guide to private equity law in Italy. This Q&A is part of the PLC multi-jurisdictional guide to private equity. It gives a structured overview of the key practical issues including, the level of activity and recent trends in the market; investment incentives for institutional and private investors; the mechanics involved in establishing a private equity fund; equity and debt finance issues in a private equity transaction; issues surrounding buyouts and the relationship between the portfolio company's managers and the private equity funds; management incentives; and exit routes from investments. Details on national private equity and venture capital associations are also included. To compare answers across multiple jurisdictions, visit the Private Equity Country Q&A tool.  The Q&A is part of the PLC multi-jurisdictional guide to private equity law. For a full list of jurisdictional Q&As visit www.practicallaw.com/privateequity-mjg.

A Q&A guide to private equity law in Norway. This Q&A is part of the PLC multi-jurisdictional guide to private equity. It gives a structured overview of the key practical issues including, the level of activity and recent trends in the market; investment incentives for institutional and private investors; the mechanics involved in establishing a private equity fund; equity and debt finance issues in a private equity transaction; issues surrounding buyouts and the relationship between the portfolio company's managers and the private equity funds; management incentives; and exit routes from investments. Details on national private equity and venture capital associations are also included. To compare answers across multiple jurisdictions, visit the Private Equity Country Q&A tool.  The Q&A is part of the PLC multi-jurisdictional guide to private equity law. For a full list of jurisdictional Q&As visit www.practicallaw.com/privateequity-mjg.

A Q&A guide to private equity law in United States. This Q&A is part of the PLC multi-jurisdictional guide to private equity. It gives a structured overview of the key practical issues including, the level of activity and recent trends in the market; investment incentives for institutional and private investors; the mechanics involved in establishing a private equity fund; equity and debt finance issues in a private equity transaction; issues surrounding buyouts and the relationship between the portfolio company's managers and the private equity funds; management incentives; and exit routes from investments. Details on national private equity and venture capital associations are also included. To compare answers across multiple jurisdictions, visit the Private Equity Country Q&A tool.  The Q&A is part of the PLC multi-jurisdictional guide to private equity law. For a full list of jurisdictional Q&As visit www.practicallaw.com/privateequity-mjg.

This tool enables subscribers to search the Country Q&A in the Venture Capital multi-jurisdictional guide by question and jurisdiction. Simply select the questions and the jurisdictions that you are interested in and click the "submit" button. Please note that the law stated dates for each jurisdiction covered may not be the same. To check the law stated dates for each jurisdiction, please visit the individual article.

A Q&A guide to venture capital law in Brazil. The Q&A gives a high level overview of the venture capital market; tax incentives; fund structures; fund formation and regulation; investor protection; founder and employee incentivisation and exits. To compare answers across multiple jurisdictions, visit the Venture Capital Country Q&A tool. This Q&A is part of the PLC multi-jurisdictional guide to venture capital. For a full list of jurisdictional Q&As visit www.practicallaw.com/venturecapital-mjg.

A Q&A guide to venture capital law in Germany. The Q&A gives a high level overview of the venture capital market; tax incentives; fund structures; fund formation and regulation; investor protection; founder and employee incentivisation and exits. To compare answers across multiple jurisdictions visit the Venture Capital Country Q&A tool. This Q&A is part of the PLC multi-jurisdictional guide to venture capital. For a full list of jurisdictional Q&As visit www.practicallaw.com/venturecapital-mjg.

A Q&A guide to venture capital law in Sweden. The Q&A gives a high level overview of the venture capital market; tax incentives; fund structures; fund formation and regulation; investor protection; founder and employee incentivisation and exits. To compare answers across multiple jurisdictions visit the Venture Capital Country Q&A tool. This Q&A is part of the PLC multi-jurisdictional guide to venture capital. For a full list of jurisdictional Q&As visit www.practicallaw.com/venturecapital-mjg.

A Q&A guide to venture capital law in UK (England and Wales). The Q&A gives a high level overview of the venture capital market; tax incentives; fund structures; fund formation and regulation; investor protection; founder and employee incentivisation and exits. To compare answers across multiple jurisdictions visit the Venture Capital Country Q&A tool. This Q&A is part of the PLC multi-jurisdictional guide to venture capital. For a full list of jurisdictional Q&As visit www.practicallaw.com/venturecapital-mjg.

A Q&A guide to private equity law in Turkey. This Q&A is part of the PLC multi-jurisdictional guide to private equity. It gives a structured overview of the key practical issues including, the level of activity and recent trends in the market; investment incentives for institutional and private investors; the mechanics involved in establishing a private equity fund; equity and debt finance issues in a private equity transaction; issues surrounding buyouts and the relationship between the portfolio company's managers and the private equity funds; management incentives; and exit routes from investments. Details on national private equity and venture capital associations are also included. To compare answers across multiple jurisdictions, visit the Private Equity Country Q&A tool. The Q&A is part of the PLC multi-jurisdictional guide to private equity law. For a full list of jurisdictional Q&As visit www.practicallaw.com/privateequity-mjg

A Q&A guide to private equity law in Argentina. This Q&A is part of the PLC multi-jurisdictional guide to private equity. It gives a structured overview of the key practical issues including, the level of activity and recent trends in the market; investment incentives for institutional and private investors; the mechanics involved in establishing a private equity fund; equity and debt finance issues in a private equity transaction; issues surrounding buyouts and the relationship between the portfolio company's managers and the private equity funds; management incentives; and exit routes from investments. Details on national private equity and venture capital associations are also included. To compare answers across multiple jurisdictions, visit the Private Equity Country Q&A tool. The Q&A is part of the PLC multi-jurisdictional guide to private equity law. For a full list of jurisdictional Q&As visit www.practicallaw.com/privateequity-mjg

A Q&A guide to venture capital law in South Korea. The Q&A gives a high level overview of the venture capital market; tax incentives; fund structures; fund formation and regulation; investor protection; founder and employee incentivisation and exits. To compare answers across multiple jurisdictions, visit the Venture Capital Country Q&A tool. This Q&A is part of the PLC multi-jurisdictional guide to venture capital. For a full list of jurisdictional Q&As visit www.practicallaw.com/venturecapital-mjg.

A Q&A guide to venture capital law in Canada. The Q&A gives a high level overview of the venture capital market; tax incentives; fund structures; fund formation and regulation; investor protection; founder and employee incentivisation and exits. To compare answers across multiple jurisdictions, visit the Venture Capital Country Q&A tool. This Q&A is part of the PLC multi-jurisdictional guide to venture capital. For a full list of jurisdictional Q&As visit www.practicallaw.com/venturecapital-mjg.

This article looks at the conditions affecting private equity deals in emerging markets, using Turkey as a case study, looking at the: Market conditions. Legal issues affecting investment with special attention to the new Turkish Commercial Code, transaction leveraging issues and commonly used investment structures. Tax issues. The article is part of the PLC multi-jurisdictional guide to private equity law. For a full list of jurisdictional Q&As visit www.practicallaw.com/privateequity-mjg.

A Q&A guide to private equity law in Belgium. This Q&A is part of the PLC multi-jurisdictional guide to private equity. It gives a structured overview of the key practical issues including, the level of activity and recent trends in the market; investment incentives for institutional and private investors; the mechanics involved in establishing a private equity fund; equity and debt finance issues in a private equity transaction; issues surrounding buyouts and the relationship between the portfolio company's managers and the private equity funds; management incentives; and exit routes from investments. Details on national private equity and venture capital associations are also included. To compare answers across multiple jurisdictions, visit the Private Equity Country Q&A tool. For a full list of jurisdictional Q&As visit www.practicallaw.com/privateequity-mjg.

A Q&A guide to private equity law in China. This Q&A is part of the PLC multi-jurisdictional guide to private equity. It gives a structured overview of the key practical issues including, the level of activity and recent trends in the market; investment incentives for institutional and private investors; the mechanics involved in establishing a private equity fund; equity and debt finance issues in a private equity transaction; issues surrounding buyouts and the relationship between the portfolio company's managers and the private equity funds; management incentives; and exit routes from investments. Details on national private equity and venture capital associations are also included. To compare answers across multiple jurisdictions, visit the Private Equity Country Q&A tool. For a full list of jurisdictional Q&As visit www.practicallaw.com/privateequity-mjg.

A Q&A guide to private equity law in Japan. This Q&A is part of the PLC multi-jurisdictional guide to private equity. It gives a structured overview of the key practical issues including, the level of activity and recent trends in the market; investment incentives for institutional and private investors; the mechanics involved in establishing a private equity fund; equity and debt finance issues in a private equity transaction; issues surrounding buyouts and the relationship between the portfolio company's managers and the private equity funds; management incentives; and exit routes from investments. Details on national private equity and venture capital associations are also included. To compare answers across multiple jurisdictions, visit the Private Equity Country Q&A tool.  For a full list of jurisdictional Q&As visit www.practicallaw.com/privateequity-mjg.

A Q&A guide to private equity law in Portugal. This Q&A is part of the PLC multi-jurisdictional guide to private equity. It gives a structured overview of the key practical issues including, the level of activity and recent trends in the market; investment incentives for institutional and private investors; the mechanics involved in establishing a private equity fund; equity and debt finance issues in a private equity transaction; issues surrounding buyouts and the relationship between the portfolio company's managers and the private equity funds; management incentives; and exit routes from investments. Details on national private equity and venture capital associations are also included. To compare answers across multiple jurisdictions, visit the Private Equity Country Q&A tool.  For a full list of jurisdictional Q&As visit www.practicallaw.com/privateequity-mjg

A Q&A guide to private equity law in the Russian Federation. This Q&A is part of the PLC multi-jurisdictional guide to private equity. It gives a structured overview of the key practical issues including, the level of activity and recent trends in the market; investment incentives for institutional and private investors; the mechanics involved in establishing a private equity fund; equity and debt finance issues in a private equity transaction; issues surrounding buyouts and the relationship between the portfolio company's managers and the private equity funds; management incentives; and exit routes from investments. Details on national private equity and venture capital associations are also included. To compare answers across multiple jurisdictions, visit the Private Equity Country Q&A tool. For a full list of jurisdictional Q&As visit www.practicallaw.com/privateequity-mjg.

A Q&A guide to private equity law in South Korea. This Q&A is part of the PLC multi-jurisdictional guide to private equity. It gives a structured overview of the key practical issues including, the level of activity and recent trends in the market; investment incentives for institutional and private investors; the mechanics involved in establishing a private equity fund; equity and debt finance issues in a private equity transaction; issues surrounding buyouts and the relationship between the portfolio company's managers and the private equity funds; management incentives; and exit routes from investments. Details on national private equity and venture capital associations are also included. To compare answers across multiple jurisdictions, visit the Private Equity Country Q&A tool.  For a full list of jurisdictional Q&As visit www.practicallaw.com/privateequity-mjg.

This table provides a high-level summary of the tax treatment applicable to the main private equity vehicles used in 20 major jurisdictions worldwide. The contents of the table have been derived from Question 7 of the Country Q&A. For the full answers and for information relating to other private equity law matters, refer to the Private Equity Country Q&A tool.

A Q&A guide to venture capital law in China. The Q&A gives a high level overview of the venture capital market; tax incentives; fund structures; fund formation and regulation; investor protection; founder and employee incentivisation and exits. To compare answers across multiple jurisdictions, visit the Venture Capital Country Q&A tool. This Q&A is part of the PLC multi-jurisdictional guide to venture capital. For a full list of jurisdictional Q&As visit www.practicallaw.com/venturecapital-mjg.

A Q&A guide to venture capital law in Israel. The Q&A gives a high level overview of the venture capital market; tax incentives; fund structures; fund formation and regulation; investor protection; founder and employee incentivisation and exits. To compare answers across multiple jurisdictions, visit the Venture Capital Country Q&A tool. This Q&A is part of the PLC multi-jurisdictional guide to venture capital. For a full list of jurisdictional Q&As visit www.practicallaw.com/venturecapital-mjg.

A Q&A guide to venture capital law in the Russian Federation. The Q&A gives a high level overview of the venture capital market; tax incentives; fund structures; fund formation and regulation; investor protection; founder and employee incentivisation and exits. To compare answers across multiple jurisdictions, visit the Venture Capital Country Q&A tool. This Q&A is part of the PLC multi-jurisdictional guide to venture capital. For a full list of jurisdictional Q&As visit www.practicallaw.com/venturecapital-mjg.

A Q&A guide to venture capital law in the United States. The Q&A gives a high level overview of the venture capital market; tax incentives; fund structures; fund formation and regulation; investor protection; founder and employee incentivisation and exits. To compare answers across multiple jurisdictions, visit the Venture Capital Country Q&A tool. This Q&A is part of the PLC multi-jurisdictional guide to venture capital. For a full list of jurisdictional Q&As visit www.practicallaw.com/venturecapital-mjg.

This article looks at the issues currently facing fund managers as market conditions slowly return to normal in the wake of the global financial crisis. Against this background, this article examines the evolving EU directives providing a new hedge fund and private equity regulatory framework for the Alternative Investment Fund (AIF) industry and seeking greater oversight over Alternative Investment Fund Managers (AIFMs); the latest tax developments from around the world affecting private equity; and the new market standards for investor-friendly terms and the trend towards on-shore jurisdictions.

This chapter examines why Luxembourg has become one of the primary jurisdictions for domiciling intermediate holding companies in the EU and scrutinises the key issues from a tax perspective.

Climate change has become increasingly topical, with the adoption of the Kyoto Protocol. This has strengthened interest in cleantech and the development of cleantech venture capital investment. This article examines the current market and growth in cleantech investment, and the financing environments in Europe, the US and Asia.

An analysis of the recent surge of private equity activity in China.

This article examines some of the most significant buyouts to have taken place in Europe and the US between October 2009 and April 2010 and the trends they reveal about the transactional private equity market in the aftermath of the financial crisis.

Most VC investors use a standard term sheet for investment. Term sheets play a key role as they ensure difficult commercial discussions take place at an early stage. There are similarities in the key terms and trends in term sheets used by VC investors in the UK, France, Germany, Italy and the US, due to increasing standardisation. European VC investors have historically followed the lead of their US counterparts who operate in the most developed VC market worldwide. This article looks at the economic climate, term sheet trends and key terms.

This article provides an outline of the tough environment for fund managers, from a regulatory, tax and commercial perspective.

A survey the of private equity landscape in the US, covering the impact of the credit crunch on the market and giving an overview of fund formation, buyouts, portfolio company management, and strategies and issues.This article is part of the PLC US Special Report, which was published to mark the launch of PLC's first US services.

This chapter considers the tax issues that can arise when structuring cross-border private equity investments, with examples from the EU and the US.

An update on the SEC and the CFTC issuing joint proposed rules to require certain investment advisers to report information to the SEC using a new reporting form (Form PF) and for certain commodity pool advisers and commodity trading advisers registered with both the SEC and CFTC to satisfy certain CFTC filing requirements.