Private
Equity Happy Hour New York City (www.pehappyhour.com),
Every 3rd Tuesday, Brings Together GPs, LPs, M&A Dealmakers and
Investors for Evenings of Fast-paced Networking and Cocktails in
Midtown Manhattan.
New
York City, NY, USA (January 13, 2013) -- Private Equity Happy
Hour New York City (http://www.pehappyhour.com),
January 15, is gearing up to congregate a terrific audience of
general partners, limited partners, M&A and corporate M&A
executives and key decision makers from firms as diverse as
Blackstone and Morgan Stanley for an evening of networking and
cocktails at Prime 333, an upscale steakhouse located in Midtown East
with flat screen TVs adorning their bar. Private
Equity Happy Hour New York City is held the 3rd
Tuesday of every month.
The
preferential tax rates that private-equity managers pay on some
profits survived Congress's Jan. 1 budget deal. That victory may not
last, according to Bloomberg. For private-equity managers, changes in
the tax treatment of so-called carried interest may affect them more
than tax increases now on the books. Congress faces a series of
deadlines in the next few months over spending cuts, the debt ceiling
and the annual budget. Democrats including President Barack Obama
want to raise more revenue, and carried interest is an obvious
candidate. The share of profits in buyout deals, known as carried
interest, is often taxed as capital gains, which receive preferential
rates under the tax code compared with levies on wages. In the budget
deal, lawmakers increased the top rate on long-term capital gains to
20 percent from 15 percent and the maximum rate on ordinary income to
39.6 percent from 35 percent.
Heads
of private-equity firms including David Rubenstein, who co-founded
Carlyle Group, indicated in November that they expect carried
interest to be among the tax breaks that the new Congress will
scrutinize. "Carried-interest taxation and a great variety of
other issues will no doubt be addressed," Rubenstein said Nov.
8. Billionaire George Roberts, who runs the private-equity firm KKR &
Co. (KKR) with his cousin Henry Kravis, said on Nov. 14 that "it
would be good to look at everything in the tax code" to make it
simpler and fairer. Roberts has an estimated net worth of $4.4
billion, according to the Bloomberg Billionaires Index. Still, the
tax treatment of carried interest may not be changed because the
budget deal didn't include an overhaul of deductions or expenses in
the tax code, said Libby Cantrill, who focuses on public policy
issues for the asset management firm Pacific Investment Management
Co. based in Newport Beach, California.
Private
Equity Happy Hour New York City is produced by
Golden Networking (http://www.goldennetworking.net),
the premier networking community for business executives,
entrepreneurs and investors. Companies represented in past editions
of Golden Networking's Happy Hour include Alaris Trading Partners,
Andrews Securities, Apollo Advisors, Atlantic Advisory Group, Avatar,
Blackstone, Capital Advisors, Citadel, Citi, CNBC, Comscient, Credit
Suisse, DE Shaw, Deutsche Bank, Duane Morris, Eagle View Asset
Management, Falcon Technology Systems, General Atlantic, GETCO,
Goldman Sachs, Greyfields, IBM, Infinium Capital, KKR, Lightspeed,
Lime Brokerage, Mahogany Partners, MNG Capital , Monolith Capital
Trading Partners, Morgan Stanley, MSF Capital Advisors, Nirvana
Capital, Nobilis Capital, OneMarketData, OneTick, Providence, RBS,
SBS Securities, Silver Lake, The Carlyle Group, Twin Capital
Management, UBS, among others.
Panelists,
speakers and sponsors are invited to contact Golden Networking by
calling +1-414-FORUMS0 or sending an email to
info@goldennetworking.net.
Golden Networking has been frequently featured in the press,
including recent articles in The Wall Street Journal, "Happy
Hour for High-Frequency Trading", The New York Times, "Golden
Networking Helps Job Seekers Make Overseas Connections", Los
Angeles Times, "Speed-addicted traders dominate today's stock
market" and Reuters, "Revamp looms as trading experts
huddle at SEC".
Media
Contact:
Julia
Petrova
Media
Relations Coordinator
Golden
Networking
1-414-FORUMS0
No comments:
Post a Comment