HOUSE_OVERSIGHT_026546.jpg
1.38 MB
Extraction Summary
2
People
5
Organizations
1
Locations
0
Events
1
Relationships
2
Quotes
Document Information
Type:
News article printout (wall street journal)
File Size:
1.38 MB
Summary
This document is a printout of the second page of a Wall Street Journal article dated February 27, 2014. It features commentary from Mr. Rubenstein (likely of Carlyle Group) regarding the future of private equity taxation, the rise of sovereign-wealth funds, and the shift toward operational improvements in buyout firms. The document bears a 'HOUSE_OVERSIGHT_026546' stamp, indicating it was part of a document production for a Congressional investigation.
People (2)
| Name | Role | Context |
|---|---|---|
| Mr. Rubenstein | Subject/Source |
Likely David Rubenstein (of Carlyle Group, mentioned in header). Discussing sovereign-wealth funds and private equity...
|
| Mike Spector | Journalist/Author |
Wall Street Journal reporter listed for contact.
|
Organizations (5)
| Name | Type | Context |
|---|---|---|
| Carlyle Co |
Mentioned in the header (likely The Carlyle Group).
|
|
| Dow Jones & Company, Inc. |
Copyright holder.
|
|
| Wall Street Journal |
Source publication (implied by email domain and URL).
|
|
| Congress |
Mentioned regarding legislation on carried interest.
|
|
| House Oversight Committee |
Source of the document stamp (HOUSE_OVERSIGHT).
|
Locations (1)
| Location | Context |
|---|---|
|
Mentioned regarding financial overhaul law debates.
|
Relationships (1)
Spector is the author of the article quoting Rubenstein.
Full Extracted Text
Complete text extracted from the document (2,001 characters)
J.S. Private-Equity Tax Change Doubtful This Year, Says Carlyle Co... http://online.wsj.com/news/articles/SB100014240527023038013045...
for services private-equity managers render when working on companies they take private.
The carried interest debate bubbled up in the wake of the recession and financial overhaul law later taken up on Capitol Hill. But the issue so far hasn't been addressed in any legislation passed by Congress and for the most part hasn't gained traction amid other issues lawmakers are tackling. Still, many leading private-equity managers expect at some point to receive the more stringent tax treatment.
Meanwhile, Mr. Rubenstein said sovereign-wealth funds will soon become the largest contributors of investment capital to private-equity firms, surpassing giant pension funds. Sovereign-wealth funds currently manage about $5.4 trillion, a number that will exceed $8 trillion by 2020, he said.
Mr. Rubenstein said he expected investment allocations to private-equity firms will continue increasing as investors seek higher returns and buyout firms focus more on operational improvements to companies to drive profits.
"It's not a financial engineering game as people thought in the early days," he said. "Operational improvements are where the bulk of returns are coming from."
Write to Mike Spector at mike.spector@wsj.com
Copyright 2013 Dow Jones & Company, Inc. All Rights Reserved
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com
2 of 2 2/27/2014 9:16 AM
HOUSE_OVERSIGHT_026546
HOUSE_OVERSIGHT_026546
Discussion 0
No comments yet
Be the first to share your thoughts on this epstein document