私募股权投资组合公司政治活动

Todd L. Boudreau, Erika E. Alba, Michelle E.P. Nuñez
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引用次数: 2

摘要

许多私募股权和风险投资公司认为,他们的基金投资组合公司很少(如果有的话)参与传统的政府事务活动,如游说或向当选官员或候选人提供政治献金。因此,他们经常选择不对当前或潜在投资组合公司目标的政治活动进行适当的尽职调查分析。然而,我们始终发现,各行各业的许多公司实际上都在不同程度上参与了政治活动,而使一家公司成为有吸引力的潜在收购对象的相同属性也会导致一家公司在政治上活跃起来。美国证券交易委员会(sec)对私募基金加强审查,不仅会暴露出合规问题与监管后果,还会为未来基金的筹资带来问题。
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Private Equity Portfolio Company Political Activity
Many private equity and venture capital firms believe that few, if any, of their funds’ portfolio companies engage in traditional governmental affairs activities such as lobbying or making political contributions to elected officials or candidates. Consequently, they often opt not to conduct a proper due diligence analysis on the political activity of a current or potential portfolio company target. We consistently find, however, that many companies across a range of industries do in fact engage in political activity to varying degrees, and the same attributes that make a company an attractive potential acquisition are also those that would lead a company to be politically active. Higher Security and Exchange Commission scrutiny on private funds will not only reveal compliance issues with regulatory consequences, but also raise issues for the fundraising for future funds.
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