FSA/Private Equity: Clean bill of health

At last, some good news for UK private equity groups. Britain’s buyout barons have had a wretched week since Nicholas Ferguson, chairman of SVG Capital, voiced his concern that private equity partners pay less tax than their cleaners. Those remarks now look certain to lead to a change in the way carried interest is taxed. The Treasury is also reviewing the tax treatment of interest. Both moves could hit the industry hard. Against this backdrop, the Financial Services Authority’s latest report on...