KirklandPEN Kirkland & Ellis LLP

Private Equity Newsletter — September 12, 2007

This issue includes the article “Kirkland Partner Jack S. Levin Testifies to House Ways & Means Committee on Taxation of Private Equity, Venture Capital and Hedge Funds,” in which Jack Levin explains the reasons to continue long-term capital gain taxation of a general partner’s carried interest in partnership-level long-term capital gain. Also featured is “SEC Proposes Changes to Accredited Investor Definition and Certain Private Offerings Under Reg D,” and “SEC Adopts New Antifraud Rule Affecting Communications and Conduct of Managers of Private Investment Funds.