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HEDGE FUNDS AND PRIVATE EQUITY A CR
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FOREWORD Since the 1980s the financ
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At the same time the PES Group took
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84.57 7 447.586 4789.4785 55 7845 4
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12 The need for long-term investmen
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14 1. Hedge funds and private equit
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16 In a very low interest-rate land
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18 The ECB has highlighted this cro
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20 in the sustainable development o
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22 Coherence, co-responsibility and
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24 Transparency in practise Some ar
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26 Ensuring more and better jobs An
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84.57 7 447.586 4789.4785 55 7845 4
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32 The first era of capitalism took
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34 1. Hedge funds In the following
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36 Hedge funds have a structure sim
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38 Hedge funds have flourished in a
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40 The European hedge fund industry
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42 Institutional investors Current
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44 - Funds of hedge funds (FOHFs) i
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46 If we assume US mutual fund indu
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48 the hedge funds themselves would
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50 management fees? It is a fact th
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52 These data notwithstanding, seve
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54 1.11. Tendency of crowding Despi
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56 Theory of money: “In modern ec
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58 Country France Italy Spain Subje
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60 Considering single strategy prod
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62 2. Private Equity Funds Private
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64 Buy-outs are typically majority
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66 2.3 The legal frame The investme
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68 What could you do with 72 billio
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70 And it highlights the comparativ
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72 The figures provide a substantia
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74 2.8 When targeting a company Whe
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76 Domicile of the fund The choice
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78 Specific economic function of Ve
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80 Mortgaging the future to capture
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82 Main conclusions: The total Euro
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84 3. The European response - curre
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86 Article 49 Within the framework
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88 The purpose of this Directive is
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90 As far as the hedge fund and Pri
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92 The following are regarded as se
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94 3. A Member State may entrust ma
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96 Article 93 The Council shall, ac
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98 Primarily, however, society must
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Social Europe versus capital market
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1. Economic viability of private co
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as a rule without any influence fro
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Here is a quite well known “flow
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2. Decent work and workers’ parti
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The pension funds of companies bein
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usiness plan for Kion to employee r
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The combination of increased indebt
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The EU has in the past tried to com
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3.1 The attractiveness of public ut
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fulfilment of public service respon
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The importance of Europe’s transi
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4. Employees, pension fund investme
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unit of Tremont Capital Management)
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contractual issues e.g. Lock-in per
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As many jurisdictions require benef
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Expert Group claims - with striking
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The rising number of hedge funds ap
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time peak in 2005.” It is importa
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Box 2: The Amaranth case (2006) In
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gies, size and age. For instance, i
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Box 3: Complex leverage arrangement
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force a hedge fund to default on it
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Private equity - especially in the
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finance infrastructure through long
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84.57 7 447.586 4789.4785 55 7845 4
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154 But if we in Europe - and hopef
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156 2. Market transparency - a comm
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158 Considering the fact that a lar
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160 Furthermore investment banks ar
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162 3.3 Transparency and supervisio
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164 Recently in most European count
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166 The European Commission should
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168 The EC should also create a fra
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170 4. Private Equity Funds - focus
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172 to create incentives for longer
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174 policy are not being met. This
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176 Acquisitions by private equity
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178 5. Our immediate proposals In t
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180 rules on the disclosure of tota
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182 have rules here and we should p
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84.57 7 447.586 4789.4785 55 7845 4
- Page 189 and 190: AA 1. Company description The Autom
- Page 191 and 192: Autoteile Unger 1. Company descript
- Page 193 and 194: Bulgarian Telecommunications Compan
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- Page 197 and 198: DIS 1. Company description The DIS
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- Page 201 and 202: share alternative. At that time the
- Page 203 and 204: Frans Bonhomme 1. Company descripti
- Page 205 and 206: Friedrich Grohe AG 1. Company descr
- Page 207 and 208: their relations with TPG and CSFB a
- Page 209 and 210: Gate Gourmet 1. Company description
- Page 211 and 212: ISS Denmark 1. Company description
- Page 213 and 214: 2.2 Debt structure, alteration of c
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- Page 217 and 218: 2.3 Management policies and shareho
- Page 219 and 220: would have unlocked hidden reserves
- Page 221 and 222: Peguform 1. Company description The
- Page 223 and 224: Picard 1. Company description Picar
- Page 225 and 226: Stork 1. Company description The in
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- Page 231 and 232: Telecom Italia Group 1. Company des
- Page 233 and 234: 2.3 Management policies and shareho
- Page 235 and 236: from the tourism business, which is
- Page 237 and 238: The consequences for jobs in Hambur
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