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Private Equity

 
Continuing our series of basic informative articles in the first of two articles on private equity Michael Bell and Vicki Carr Tax Practice Osborne Clarke look at the tax issues for managers
 
The private equity sector has rarely been more buoyant. According to the FSA in the first half of 2006 UK-based private equity fund managers raised £11.2 billion of capital. During the same period the total value of UK mergers and acquisitions was 40% higher than a year earlier with the rest of 2006 continuing at a similar pace.
 
In the light of this a two-part back-to-basics article on the main tax issues for managers the private equity house and lenders in a typical private-equity-backed management buy-out seems timely. This...

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