KirklandPEN Kirkland & Ellis LLP

Private Equity Newsletter - June 9, 2014

This issue includes the article “Expected IRS Guidance Unlikely to Prohibit PE Fund Management Fee Waivers,” which discusses recent statements by IRS and Treasury representatives that, contrary to indications last year, IRS intends to issue formal guidance on management fee waiver arrangements sometime during 2014. The guidance will likely be in the form of proposed regulations and will likely specify examples of both acceptable and unacceptable fee waivers.