The Ukraine war casts a shadow over the M&A business in 2022. This particularly affects target companies from Ukraine or Russia, but also has an impact on the European and international M&A market beyond. In addition, there are challenges in the face of Corona, inflation and state protectionism. more…
Insurance companies – Regulation inhibits alternative investments
In a recent study, the German Association of Alternative Investments investigates the role that alternative investments play for insurance companies in Germany. The study shows that regulatory requirements in particular are holding insurers back. more…
German private equity market remains on a high level
According to current figures from the German Private Equity and Venture Capital Association (BVK), the German market in 2021 can successfully build on the previous year. Despite a challenging market environment, investments of over 12.6 billion euros were made, and the venture capital segment even set a new record with just under 4 billion euros. more…
ESG – Influence on fundraising increases
ESG should continue to gain importance in fundraisings in 2022. This is likely to be mainly due to the growing social importance and the transparency requirements of the Sustainable Finance Disclosure Regulation (SFDR), which have been in force since last year, and not least the new requirements of the Taxonomy Regulation, which came into force at the beginning of this year. . more…
VAT Exemption for Venture Capital Funds
The so-called Act to Strengthen Germany as a Fund Jurisdiction already introduced a VAT exemption for the management of venture capital funds as of 1 July 2021. However, it was unclear until now which funds actually fall under this regulation. A draft by the Federal Ministry of Finance supplementing the VAT Application Decree now provides definitions for practitioners. more…
Merger Control – Current Legal Situation in Germany
Learn more about the regulatory environment and current legislative developments on merger control in Germany. more…
US Sanctions – What fund managers need to know
US sanctions are also playing an increasingly important role for private equity investors in the EU. The focus is on the sanctions programmes of the U.S. Office of Foreign Asset Control (OFAC). PE Magazine author Daniel Wiedmann spoke with US lawyer Francesca Guerrero about what fund managers should watch out for. more…
AIFMD review – Pitfalls especially in reporting
On 25 November 2021, the EU Commission adopted and published its long-awaited proposal for a directive amending the AIFM Directive and the UCITS Directive. The proposal supplements these directives only selectively. Some changes, however, should not be underestimated by the private equity sector. more…
Synthetic W&I Insurance Concepts in M&A
The current M&A market in Germany is characterised by a strong seller’s market in many segments, notwithstanding the COVID 19 pandemic, resulting not only in high purchase prices. Sellers are also taking advantage of the positive environment to (contractually) optimise their liability risk in the transaction. The popularity and significance of warranty and indemnity (W&I) insurances in M&A deals have grown in recent years, particularly in the private equity sector. . more…
Alternative Funds 2021 – German law overview
Learn more about the latest legal information on fund structures, tax regimes, double-tax treaties, disclosure/reporting requirements, the legal structures used by fund managers, the rules concerning permanent establishments, the marketing of alternative funds, and FATCA/CRS compliance regimes. more…
Private Wealth and Private Clients – Recent developments in German Law
The German legal and tax system offers a certain flexibility for private wealth and estate planning. If structured appropriately, taxpayers can take advantage of certain relief mechanisms for succession in family businesses. This flexibility has been increased in particular by the entry into force of the EU Inheritance Regulation. PE magazine authors Dr Andreas Richter and Dr Katharina Hemmen explain which legal and tax framework conditions also apply to wealthy private individuals and entrepreneurial families. more…
MUPET 2021 – PE experts meet at the leading industry conference
From 2 to 5 November, private equity professionals from Germany and abroad will meet to exchange views on the latest topics and trends. Learn more about the highlights of the leading industry conference in Germany. more…
Changes in German KAGB bring new audit obligations for registered capital management companies
Due to legal changes, registered (small) capital management companies (AIF-KVGen) are now also obliged to be audited. The auditor must audit the annual financial statements, the management report and compliance with the obligations under the Money Laundering Act – for the first time already for 2021. more…
Corporate Governance – Laws and Regulations in Germany 2021
Learn more about common topics in corporate law and regulation – including management bodies, shareholders and other stakeholders, transparency and reporting, corporate social responsibility, as well as current issues affecting German legislation, such as gender equality and the “Wirecard scandal“. more…
ESG Funds – EU extends Disclosure Requirements
After market participants had to deal intensively with the Sustainable Finance Disclosure Regulation (SFDR) for the first time at the beginning of the year, the topic was mainly relevant in ongoing fundraisings in recent months following the updates of disclosures on websites and in pre-contractual documents, most of which took place by 10 March 2021. From 2022, however, further obligations will apply to all. more…