The Blackstone IPO signaled a new strategy of exploiting all of the advantages of a public offering while avoiding critical regulatory constraints. Hedge fund managers such as Blackstone are the functional equivalent of private investment companies in which only sophisticated investors are eligible to invest. Regulators have ignored this economic reality, however, in permitting hedge fund managers to evade all of the restrictions that Congress imposed on publicly offered investment pools. Hedge fund managers should be subject to the Investment Company Act, which uses a combination of statutory and regulatory exemptions as screens to ensure the optimal level of regulation for investment companies such as Blackstone. Internal inconsistencies in regulators' positions and the operational ne...
The Maine Technology Institute has overhauled its business funding programs in an effort to better support the technology sector at a time when private investment remains scarce. Technology companies and entrepreneurs in the state are struggling to find the capital they need to launch new products and expand their businesses, said Betsy Biemann, president of the nonprofit, state-funded Maine Technology Institute.
NEW YORK, July 7, 2011 /PRNewswire/ -- With a focus on new growth opportunities and efficiencies, 29% of US private companies surveyed for PwC US's Private Company Trendsetter Barometer plan to increase their IT budget over the next year. In 2010, US private companies allocated approximately 5.6% of their budgets to IT. This investment is expected to rise to an average of 6.6% over the next 12 months, a year-to-year increase of nearly 19%. (Logo: http://photos.prnewswire.com/prnh/20100917/NY66894LOGO )
Chicago-based Monroe Capital LLC, a private investment firm focused on investments in middle-market companies, announced that it has expanded its team with the addition of the following professionals: Daniel M. Duffy, managing director; Sara E. Mongerson, director of Institutional Relationships and Investor Relations; Seth B. Friedman, operations manager; Jeffrey K. Williams, VP; Jeffrey M. Cupples, assistant VP; and, Kyle A. Asher, associate. Monroe also announced the promotion of Alex Franky to director and principal. Duffy has over 25 years of commercial lending experience. Mongerson has over 18 years of experience in institutional asset management. Friedman was previously in the Operations Group at Pangaea Asset Management LLC.
[...] the U.S. Senate Committee on Banking, Housing and Urban Affairs co-chaired by Sen. Chris Dodd considered new legislation on hedge funds, while soliciting input this month from industry representatives like the Managed Funds Association and the Coalition of Private Investment Companies, both based in Washington, D.C. "The systemic risk regulator should have the authority to directly intervene to ensure an orderly dissolution or liquidation of the market participant," said Richard Baker, CEO of the Washington, D.C. based MFA.
Memphis marketing executive Greg Ericson says his plan for an indoor theme park at The Pyramid wowed Mayor Willie Herenton at their June 25 meeting. But more than two months later, Ericson says he's still trying to secure a nonbinding letter of intent from the city for his "Pyramid Adventure." The document, he says, is essential for him to secure financing from an investment team that includes "a very large, well- known bank," along with private investment companies.
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