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GOP legislator wants to boost tax on carried interest

Michigan Congressman Dave Camp on Wednesday offered a tax proposal he said would “clean up” the carried interest provision that lets private equity partners pay lower taxes on large portions of their incomes. Camp’s plan drew little support from other Republicans.

Reuters – Carlyle’s Rubenstein Buys 1776 Printing of Declaration of Independence

Carlyle Group CEO David Rubensteinon Tuesday paid $632,500, a record amount, for a copy of the first newspaper printing of the U.S. Declaration of Independence, according to Reuters. Rubenstein has purchased several historic documents that he has loaned to U.S. institutions, including a copy of the Emancipation Proclamation, Reuters reported. Rubenstein, 63, had a net worth of $3 billion as of March, according to Forbes magazine, which ranked him No. 458 out of the world’s 1,426 billionaires.

CalPERS Notches 2.9x Gain On 2001 Carlyle Investment

The $237 billion California Public Employees’ Retirement System has reaped a 2.9x gain from its 4.2 percent stake in The Carlyle Group upon the firm’s initial public offering on Thursday, according to an exclusive analysis by Buyouts, peHUB’s sister magazine, based on a California Public Records Act request.

Rubenstein, Schwarzman Downbeat on U.S. Economy

(Reuters) – The heads of two of the world’s most powerful private equity firms issued a dire report on the U.S. economy on Wednesday, signaling problems for political leaders and their own firms’ ability to realize profit on their portfolios.

“We never really emerged from the last recession,” Carlyle Group co-founder David Rubenstein said at a breakfast session at Lincoln Center that also featured Blackstone Group Chief Executive Stephen Schwarzman.

“It will last a few more years before we get unemployment to a level that is tolerable,” Rubenstein said.

Top 5 Slideshows This Week Led by NYC Shindig Photos

Following are the five slideshows most popular with peHUB readers the week of April 25.

1. Slideshow: New York City Shindig Photos!

2. Slideshow: Top 10 List Shows Cleantech Becoming Dominated by Handful of Investors

3. Slideshow: Carlyle’s Rubenstein, T.H. Lee’s Sperling, AlpInvest’s Doeksen, Others Speak at Buyouts New York

4. Slideshow: The Cleantech Companies Best Positioned to Go Public

5. Slideshow: The Best Time for a VC Promotion

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