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The Financial Industry Regulatory Authority (FINRA) fined Rudy Mejia Jr., CEO of Nickel Hayden Advisors, $10,000 for involvement in the sale of limited partnership interests without disclosure to his former employer. Mejia, a West Point graduate and former U.S. Army captain, co-founded a pooled investment fund and executed transactions without permission. He was suspended from associating with any FINRA member firm for eight months. Mejia introduced the investment opportunity to friends and family, received performance fees, and did not respond to requests for comment. [Extracted from the article]

The article looks at the increasing number of Registered Investment Advisers (RIAs) who are addressing challenges to customize their technology, boost their efficiency and differentiate themselves from the competition. RIAs, it says, are persuading prospects by offering unique services through limited partnerships and hedgefunds to allow access of clients to investments. It also notes companies driving RIA growth including Veritable, GenSpring and Oxford Financial Group.

The article discusses several commodities funds. Funds that track the Goldman Sachs Commodity Index or the Dow Jones-AIG Commodity Index would have posted the same returns as equities according to a study by professor K. Geert Rouwenhorst. Managed futures funds are preferred by other planners because they are commonly organized as limited partnerships or trusts. The ideal commodities allocation for clients is a combination of managed and index futures funds. INSET: TAXING MATTERS.

Discusses the recovery of family limited partnerships (FLP) in the financial planning sector in the U.S. in 2004. Factors that contributed to the recovery; Details of the litigation of Albert Strangi involving the use of FLT to transfer assets; Discounts that can be applied to FLP interests; Reason for creating an FLP. INSETS: Discount Shopping;Death and Taxes.

Discusses the shelter that family limited partnerships (FLP) and limited liability companies (LLC) in the U.S. can provide to their clients. Reason of small businesses for favoring LLC; Comparison between FLP and LLC; Tax advantages of FLP and LLC.

Discusses the advantages of using a family limited partnership to save on federal estate taxes. Situations in which a family limited partnership is applicable; Tax benefits; Sample case.

Focuses on the decline of limited partnerships in the United States in 1997. Mass liquidation of real estate programs; Effect of limited partnership structure to syndicated programs; Risks of dealing with a partnership structure; Decline in equipment leasing programs; Effect of the demise of marine-container programs to equipment leasing partnerships.

Discusses investment growth in the secondary market for real estate limited partnerships. Investors' desire to cash out of investments not designed for liquidity; Market activity of Foundation Investment Group principal Robert Condon; Investor preference for blind pools.

The article discusses publicly traded real estate investment trusts (REITs). In the late 1980s, publicly traded REITs were able to recover their full pre-downturn value in 28 months, while core property investors recovered much later in the second quarter of 1995, worse with investors engaged in limited partnerships (LP). In the late 1990s, REIT total returns averaged 23.2% per year. In 2008, capital remains available to finance REIT growth opportunities. The author suggested that REIT downturns have never lasted much longer, as bull markets follow suit.

Focuses on the use of limited liability companies and family limited partnerships as tools for asset protection. Role of asset protection tools and trusts for clients; Definition of limited liability companies (LLC); Types of assets which can be held in LLC. INSET: When Creditors Attack.

Discusses the advantages of investments in master limited partnerships (MLP) in the U.S. Impact of rising interest rates on MLP; Profits earned from MLP investments; Characteristics of MLP; Taxation scheme for MLP; Risks from investing in MLP.

Reports on the securitization of limited partnership interests for Aon Corp. in the U.S. as of February 2002. Status of the private equity market; Selling of assets to a newly created company.

Focuses on the charitable family limited partnership (FLP). Reasons for the popularity of FLP; Benefits offered by the strategy; Areas of concern; Comments from Larry Brickner, general counsel for Professional Financial Services.

The article focuses on the investment potential of the energy industry which investors and their advisors can take advantage of through master limited partnerships (MLP). These partnerships are insulated from fluctuating energy prices because they own businesses that are stable and fee-based. MLP generally offer high yields.

Reports the business operation of Kleiner Perkins Caufield & Byers in the venture capital industry in the United States. Investments resulting job opportunities, revenues and market capitalization; Issues in limited partnership with international corporations; Initiative to gain profit in an unstable economy.

Deals with family limited partnerships in the United States. Effective way of structuring the transfer of wealth to family members; Popularity in the early 1990s; Ability to enable interests in an entity to be fractionalized with discounts; Professional interaction; Comparison with a limited liability company. INSETS: Deathbed Partnerships.;Intangible Property Tax Incentive..

Discusses the increasing incidence of limited liability partnerships (LLPs) in the United States. Reasons for increase; Taxation implications of partnerships; Conversion of regular firms into LLPs.

Regulators in Massachusetts launched a "sweep" of more than 60 firms that sold nearly $1.3 billion in limited partnerships sponsored by GPB Capital. [ABSTRACT FROM AUTHOR]

The article provides advice on year-end estate planning, in light with the decision of the U.S. Congress to make the 2009 exemptions and tax rates permanent. The author talks about getting started by knowing the tax rates in the home state and provides relevant information. Methods discussed for moving assets include Family Limited Partnership (FLP), Grantor Retained Annuity Trust (GRAT), and the Grantor's Trust.

The article deals with the pros and cons of investing in a hedge fund to diversify a portfolio. The use of a variety of strategies, alternative investments and trading techniques can make hedge funds move differently from stocks and bonds. Hedge funds are unregulated because they are usually either limited partnerships or offshore corporations. It carry risks such as high minimum investments and liquidity restrictions.

The article reports that Credit Suisse Asset Management LLC is set to acquire Verso Paper Holdings. With this acquisition, a new credit facility worth $485 million has been arranged by the company, including the $200 million revolver and a $285 million term loan. The purchase price for the acquisition consists of $1.37 billion in cash and $30 million in the form of a 10 percent limited partnership interest in CMP Investments.

The article discusses different views on investing in real estate property. According to Wayne Olson of Margolin, Winer #x0026; Evens, individuals generally invest in real estate through real estate investment funds or find investors to invest in units in limited liability companies through private companies. Recommendations are also given for investors which include trying to obtain diversity in geography and sticking with what they know.

Discusses the case law and U.S. Internal Revenue Service (IRS) attitudes toward family limited partnership (FLP). Definition and applications of FLP; Laws used by the IRS against FLP; Cases considered as major defeat for the IRS.

Reports that the Charles River Ventures company has decided to exclude public limited partnerships from its fund raising. Coping with the issue of public fund disclosure; Concerns about the release of sensitive data; Revelation to a "Venture Capital Journal" reporter regarding conflict of interest.

The author comments that a new batch of nontraded real estate investment trusts (REITs) look eerily like the disastrous limited partnerships of the late 1980s and early 1990s. He argues that the upfront fees are troubling in and of themselves, as well as discusses that only nine and 20 nontraded REITs were covering distribution with cash from operations. He also advises wealth managers to keep away from the nontraded REITs as they are a potential future mess.

The article focuses on family limited partnerships (FLPs). It discusses the advantages and disadvantages of dissolving FLPs which include high cost of maintaining FLP, cost of dissolution, cancellation of gift- and estate-tax discounts, asset protection and others. It also presents possible scenarios on why FLP should not be dissolved.

The article reports on the entry of the City of New York Office of the Comptroller in the market for private equity real estate managers on behalf of the New York City Board of Education Retirement System (NYCBERS). The request for quotation (RFQ) issued for the search stated that NYCBERS is looking for one or more managers to oversee $130 million in private limited partnerships, open-end real estate funds and other investment vehicles.

Reports on the launch of a new business unit by JPMorgan Worldwide Security Services that will offer a complete line of outsourced fund administration services to private equity firms and institutional limited partners. Demonstration of the ability of the company to anticipate and fulfill clients' needs for innovative products and solutions; Transfer of ten skilled employees to the new group; Separation of the operations and technology from the mutual fund functions.

Discusses the Tax Court's method of valuing appreciated property that a corporation transferred into limited partnership for ultimate distribution to shareholders to determine the corporation's taxable gain resulting under Section 311. Discussion of Pope & Talbot Inc.'s case; Taxability of distribution to Pope.

The article reports on the rise of rival firms and buyers in lower mid-market as one of the challenges addressed at the Alliance of Merger & Acquisition Advisors' (AM&AA) Winter Conference in January 2014. Topics discussed include differentiation of funds, the growing number of limited partners (LPs) attracted into the downstream market, and consolidation of the investments of LPs.

The article discusses investment updates on the Texas County & District Retirement System (TCDRS) as of December 23, 2013 including a year-end commitment to the Onex Partners IV fund, hiring of Harvest Fund Advisors for a master limited partnerships mandate, and changes to the system's portfolio.

The article reports on the expectation by the trustees of the City of Aurora General Employees' Retirement Plan (AGERP) to hear education presentations on emerging markets debt, master limited partnerships and opportunistic fixed income at a meeting in May 2013.

The article reports on the New York State Teachers' Retirement System (NYSTRS) Board's approval of new asset allocation among private equity and active bond strategies. CVC Capital Partners has added NYSTRS to its list of clientele. The Albany-based retirement fund previously maintained a limited partnership commitment to the CVC European Equity Partners V, L.P. fund, according to its 2012 Comprehensive Annual Financial Report.

The article reports that aside from the Ventura County Employees' Retirement Association (VCERA) planning to consider master limited partnerships (MLPs), the Board will also look into Global Tactical Asset Allocation (GTAA) strategies. In an email update to "Investment Management Mandate Pipeline," Donald Kendig, administrator at the 3.1 billion dollars plan, explains that MLP and GTAA are being considered to fill the remaining two percent of their real return bucket.

The article discusses the launching of Transamerica's Global Tactical Fund, which is sub-advised by Aegon Investment Management. The fund will invest in exchange-traded funds focused on high-yield bonds, non-U.S. debt and emerging markets. It will also invest in dividend-paying stocks, master limited partnerships, and real estate investment trusts, among others.

The article discusses the ability of investors to fund private equity deals. It is stated that the decision of private equity investment firm TPG to reduce their commitments to its fund has raised concerns about the ability of investors to fund private equity deals. According to the article, a number of institutional investors have reduced their exposure to private equity funds due to portfolio allocation issues and declining return expectations. Limited partners (LPs) who default on capital calls is said to face stiff penalties.

The article reports on the plan of Baltimore Fire and Police Employees' Retirement System to commit $25 million to a new private equity investment. The investment funds will be awarded to BlackRock Investment Management. The limited partnership will invest in a diversified portfolio of U.S. and non-U.S. venture capital, buyout and special situation private equity partnerships and investments.

Reports that Deutsche Bank AG has agreed to acquire the mortgage origination and servicing assets of commercial lender Berkshire Mortgage Finance Limited Partnership in New York. Berkshire's worth of servicing portfolio; Benefit of the acquisition for the bank; Brief background of Berkshire.

Presents news briefs on the financial services industry in the U.S. as of August 2004. Partnership of Datalynx with its sister company Advisor Brokerage Services; Investigation conducted by New York Attorney General Eliot Spitzer on employee benefits insurers; Result of a survey conducted by Harris Interactive about the understanding of investors on the negative effect that rising interests have on bond values; Significance of family limited partnership to minimizing estate taxes.

Presents an update on investments and insurance statistics in the U.S. as of April 2004. Total value of variable annuity assets at the end of 2003; Rise in the market for direct investments in 2003; Real estate firms which launched large limited partnership deals in 2003; Increase in the "Financial Planning" Transitions Index in March 2004.

Reports on the plan of the Minnesota State Board of Investments (SBI) to invest $1.1 billion to alternative investments for diversification purposes. Contact person of managers who are interested in presenting alternative investment opportunities; Kinds of alternative investments the plan could pursue; Allowed amount of investment to limited partnerships.

Highlights the limited partnership deal between Palm Harbor Homes Inc. and BSM Financial Inc. in Dallas, Texas. Terms of the partnership deal; Benefits of the deal to both companies; Comments from Kurt Cummings, BSM president.

Reports that real estate investment trust Lexington Corporate Properties Trust is acquiring Delaware-based limited partnerships Net 1 LP and Net 2 LP.

Reports on the Investment Program Association's (IPA) establishment of a computer-based limited partnership exchange called `Central Trading Facility.' IPA's hiring of Cantor Fitzgerald LP to develop the system; IPA president Christopher Davis on the exchange.

The article offers information on the venture of private equity (PE) firms on underwriting corporate debt. It mentions that the main reason for starting a broker-dealer to underwrite deals is to produce consistent stream of fees in which launching an underwriting arm made sense for Kohlberg Kravis Roberts Co. (KKR) after it went public in 2009. Moreover, PE firms need to convince its partners or limited partners and hire the personnel needed to operate a syndicate desk.

The article discusses limited partnership (LP) and general partnership (GP) investments in private equity industry in the U.S. Shad Azimi of Vanterra Capital says that LP investments will only rise after the limiteds achieve to follow the stated mandate. It notes that GP keep properties on the books to keep the flow of management fees. It cites that there is a need to understand the drivers that motivate the sponsors while the GP-LP relations means little to deal outside private-equity circles.

The article reports on the move of Permira to give its limited partners the option of cutting back their commitments to its latest fund which could see Permira's fourth fund trimmed from ₫11 billion to ₫9.5 billion. It notes that the move highlights the pressure of liquidity issues faced by the limited partners and the deployment of outsized funds for the general partners. Meanwhile, it mentions that the growing concern the issue is the prospect of investors default.

Focuses on improvements in liquidity in the United States resulting from the maturity of the secondary market for limited partner interests. Evolution of the private equity market; Investor behavior; Market and economic indicators.

The article discusses various issues related to accounting standards and financial matters. It is reported in the article that the emerging issues task force of the Financial Accounting Standards Board (FASB) has reached a consensus on issues determining whether a general partner, or the general partners as a group, controls a limited partnership. It is further reported that the FASB has issued staff position, which stipulates that freestanding financial instruments originally issued as employee compensation that can be settled only by delivering registered shares should not be assumed to require net-cash settlement.

Reports on a provision included in the American Jobs Creation Act of the U.S. which deals with mutual funds and master limited partnerships (MLP). Increase in the qualifying incomes for mutual funds; Information on MLP; Potential benefits of the Jobs Act for investors; Accounting issues regarding the effect of MLP on mutual fund distributions.