The U.S. Congress is preparing to consider far-reaching legislation that would expand the powers of the federal government over financial institutions operating in the United States, dramatically alter the role and authority of many federal regulatory agencies, and require many financial industry participants to be subject to closer oversight by federal regulators. One group of [...]

Middle Eastern state developer Dubai World has said that its restructuring measures will not affect private equity subsidiary Istithmar World. In a statement prompted by widespread speculation about how the government-owned company would address its $60bn debt load, Dubai World said that it plans to “immediately consider alternatives in respect of the debt obligations of [...]

Around six out of 10 private equity firms have frozen salaries, or are considering doing so in the future, in the most revealing research yet as to how buyout staff are being squeezed in the downturn.
Data provider Preqin found 38% of firms have already set a pay freeze, while 22% more are mulling the idea.
Click [...]

The Carlyle Group LP could join a growing number of large private equity firms sweetening the terms on megafunds raised during the market heyday to appease their limited partners, according to investors in its latest buyout fund.
Click here to read the full article
– requires subscription

Electra Private Equity PLC (ELTA.LN) Tuesday reported a 4.5% fall in net asset value for the full year but said its portfolio was in good shape with a number of diverse and defensive investments.
The London-listed private equity company said that NAV for the 12 months to Sept. 30, 2009, was 1,720 pence a share, compared [...]

The New York State Common Retirement Fund (CRF) invested US$150m combined in private equity and absolute return strategies in October, according to the scheme’s monthly transaction report.
State comptroller Thomas DiNapoli said the pension fund invested $100m in the Hudson Clean Energy Partners fund. This is a new relationship for CRF, DiNapoli said.

Click here to read [...]

Carlyle Group, the world’s second- largest private-equity firm, and Hellman & Friedman LLC are seeking to take advantage of a record rally in high-yield, high- risk loans to take cash out of companies they bought last year amid the financial crisis.
Goodman Global Inc., a maker of air conditioner systems bought by Hellman & Friedman, has [...]

Marathon Asset Management LP will get money from a government program to buy toxic assets from banks without raising the full $500 million set as a minimum for participation, a Treasury official said.
Marathon, based in New York, completed its initial closing in the Treasury Department’s Public-Private Investment Program with $400 million from private investors, said [...]