CEO's note

Dear [FirstName]

I hope you had a good Easter break, certainly the AVCAL team are refreshed and busy with a host of events, professional development programs and preparations for the launch of this year's conference.

We are also still busy on the advocacy front with discussions on the tax issues such as thin cap proposed changes and tightening of Part IVA as I discussed last month. Given that these issues are not unique to PE we have formed a coalition of industry associations to further our lobbying in a concerted way. I recently met with the new Assistant Treasurer, David Bradbury and reiterated our concerns that the VCLP review has been in limbo since the Board of Taxation reported to the Government in June 2011. I stressed our disquiet at the length of time it has taken to get any response regarding the review. We are also waiting on their response to the report of the wider review into collective investment vehicles that reported in December.

This month we have also had a government venture capital review to respond to and we have written a submission in answer to the thirty or so questions contained in the issues paper. Members can download our submission here.

In addition we are working with our colleagues around the world on reporting guidelines and I shall be meeting up with a group of my counterparts in May to further some common reporting templates covering a number of issues. I'll keep you posted after my meetings next month with EVCA and the PEGCC.

Kind regards

Katherine Woodthorpe
Chief Executive

Research News

AVCAL's new Research Library is a one-stop centre for current international research and industry reports on PE and VC, including the global evidence on the important economic role of the industry. New reports include:

Global Private Equity Report Bain

Exploring the Success of VC-backed Companies BVCA

Private Equity Deskbook Probitas Partners

And the mergermarket Global M&A Round-up for Q1 2012 may also be of interest.

Industry News

Private equity buoys pension fund returns

2012 VC global confidence survey
All GPs, VC and PE, are invited to do the short Deloitte and NVCA survey.

IPEV Board releases draft reporting guidelines

US private equity fund-raising up 4%, European by 82%

R&D Tax Incentive registration requirements released

Update on AIFM Directive Developments
EVCA update Read More... and
financial regulator has hit back at lobbying (FT subscriber site)

$200 Million Renewable Energy Fund Ready to Invest

Stay informed

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Vale GBS's Andrew Baker

GBS has penned the following memorial following the recent passing of Andrew. Read More...

Media Watch

Future Fund banks on private equity
The Australian (online subscriber version only)

Super funds to dominate ASX: AVCAL
Investor Daily

Sponsors offer personal packages to investors
efinancialnews

Researchers seek corporate funds for project
AFR (online subscriber version only)

Extracting value from managers
Quote: "SunSuper has achieved a net internal rate of return of 10 per cent above the listed market alternative since the inception of its private equity program in 1995"
Top 1000 Funds

Market ripe for private equity
Financial Standard

European investors fight back over regulation - Basel III and Solvency II
AltAssets

Size does matter: APRA
Investor Daily

Where Australian start-ups are getting their cash
Smart Company

CBA: Australian M&A Blossoms
Deal Journal Australia - Dow Jones/WSJ