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New Brazilian Regulations Promote Important Changes for Private Equity Funds (“FIPs”) in Brazil

New Brazilian Regulations Promote Important Changes for Private Equity Funds (“FIPs”) in Brazil

On August 30 this year the Brazilian Securities Commission (“Comissão de Valores Mobiliários” or “CVM”) enacted Instruction CVM No. 578 (“Instruction 578”) to govern the formation,...
Potential Shareholder and Director Liabilities in Troubled Investee Companies

Potential Shareholder and Director Liabilities in Troubled Investee Companies

Introduction Recent news out of the Nigerian National Bureau of Statistics (NBS) has confirmed that, as of the end of the second quarter of 2016, the country had gone into recession for the first...
Considerations for End-Of-Life Funds

Considerations for End-Of-Life Funds

In the past, managers encountering issues realising value to investors within the terms of their funds were left with few options. The maturing of the secondary market increasingly provides managers...
ESG in Infrastructure

ESG in Infrastructure

In infrastructure investing, environmental, social and governance (ESG) issues remain critical considerations for practitioners given the longterm time horizon and often relatively significant...
Debt Investment in India: Is Mauritius now the Preferred Route?

Debt Investment in India: Is Mauritius now the Preferred Route?

On May 10, 2016, after years of protracted negotiations, India and Mauritius signed a protocol (“Protocol”) amending the agreement for avoidance of double taxation between India and Mauritius...
Private Equity in India

Private Equity in India

India’s reputation as an assault on the senses is well deserved. Visit any of the country’s 29 states, nearly 8,000 cities and towns, or over 600,000 villages, and one is typically confronted by...
Nigerian Foreign Exchange Market Developments and Private Equity Investment

Nigerian Foreign Exchange Market Developments and Private Equity Investment

Nigeria’s economy is highly dependent on crude oil, which constitutes a major source of the country’s foreign exchange earnings and government revenue. As a result, the sharp decline in crude oil...
Liquidity Options in Permanent Capital Vehicles

Liquidity Options in Permanent Capital Vehicles

Although permanent capital structures have been used in Europe and the US for many years in various forms, emerging markets have trailed developed markets when it comes to alternative structures....
Legal Reforms Against Corruption Were Published in Mexico

Legal Reforms Against Corruption Were Published in Mexico

On July 18, 2016 a group of laws that comprises the legal framework that will make effective the public strategies and policies for fighting corruption and impunity, were published in Mexico. The...
Currency Risk Management Survey

Currency Risk Management Survey

Long-term investors in emerging markets are no strangers to currency risk. Over the last 20 years, the Asian financial crisis, the Russian rouble crisis, and the Argentine and Brazilian crises—...
EMPEA has served as a useful reference platform for CDPQ by helping to define the eligible universe of fund managers in growth markets. Membership provides background data and a...

Rashad Kaldany | Executive Vice-President and Growth Markets, CDPQ

The developed markets have no equivalent to the role EMPEA is playing as a convener and source of trusted information in the emerging markets.

David Rubenstein | Co-Founder and Managing Director, The Carlyle Group