AVCAL reveals standstill in buyout fundraising ahead of new taxes
As Australia awaits the announcement of new tax regulations on private equity profits, the Australian Private Equity & Venture Capital Association (AVCAL) has released a study delineating how uncertainty over the new laws has already affected the market’s PE sector, specifically highlighting that buyout funds have struggled to find backers, hindering the industry’s recovery process.
According to AVCAL, buyout funds, which were raising in excess of A$5 billion ($4.9 billion) before 2009, have now raised an average of A$1.46 billion ($1.4 billion) in the first half of 2010, or just...
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