Private equity's general partners are likely staring down the barrel of a tax hike no matter which party wins the U.S. election, Douglas Lowenstein, the president of the Private Equity Council, warned Wednesday.
The head of the lobbying group for 13 of the largest buyout firms in the U.S. made the comments to the Financial Times at a London conference celebrating the 25th anniversary of the British Private Equity and Venture Capital Association.
Private equity, along with venture capital, hedge funds and other financial firms employing a private partnership structure, narrowly avoided a steep increase in the taxes on carried interest, the primary form of compensation for fund managers, in 2007 as Congress looked for ways to offset lost revenues by shielding the middle class from the alternative minimum tax. - George White
See story about Lowenstein's comments from the Financial Times
See story about carried interest taxe from TheDeal.com
See story about the future of private equity from TheDeal.com
