Bonanzas in private equity world spark call for tax relief limit

bonanzas in private equity world spark call for tax relief limit

Sumary of Bonanzas in private equity world spark call for tax relief limit:

  • Welcome to the world of private equity, also known as the “billionaire factory”, where already super-rich firms have used low interest rates and their considerable financial firepower to embark on a multi-billion dollar buying spree this year.
  • Mere mortals were this week given a rare glimpse inside the money-spinning and highly secretive private equity industry – which buys up companies, often using more debt than stockmarket investors would tolerate, then floats or sells them on again – as the London firm Bridgepoint floated on the stock market.
  • Spencer, received a £1.75m fee to become senior independent director (on top of his annual £200,000 fee for serving on the board).
  • Spencer, Archie Norman, has received a fee of £1.75m to join the board of private equity firm Bridgepoint.
  • ”Lord Sikka said private equity firms had “devoured Debenhams, Maplins, Toys R Us, Bernard Matthews, care homes and much more”, adding that high leverage and aggressive tax planning were the industry’s prime tools.
  • “The great lockdown crisis toppled many industry forecasts and trends whilst reinforcing and accelerating others, including private equity, which arguably has never seen a more favourable environment for deal making,” said Dominick Mondesir, a senior European private capital analyst at the private equity research firm Pitchbook.
  • “Deal activity has propelled to unseen levels, due to a combination of strong leveraged lending markets and an accelerating European economic recovery powered by the rising vaccination rate.
  • ”Private equity firms have struck a record 6,298 deals worth $513bn (£373bn) so far this year – the most since records began in 1980, according figures from the data provider Refinitiv.

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