Commentary: PE/VC Tax Treatment to Mexican SHCP

LAVCA submitted documentation presented by AMEXCAP to Mexican finance minister commenting on regulatory changes affecting direct investing by local pension funds in private equity, tax treatment of PE/VC funds and investments as well as fund formation and operation.

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Contact for LAVCA Policy

LAVCA welcomes comments, issues, or questions on PE/VC-related regulation. Contact policy@lavca.org with any inquires.

PP-GS Council

Martín E. Díaz Plata

Managing Partner, Capital Group Private Markets
Miguel Olea LAVCA

Miguel Olea

Partner & Head of Latin America, The Abraaj Group

Philip von Mehren

Partner, Venable, of Counsel, LAVCA
Jose Sosa del Valle - Lexington Partners

Jose Sosa del Valle

Partner, Lexington Partners
Fransisco Arboleda - HarbourVest

Francisco Arboleda

Vice President, HarbourVest Partners

Marco Pescheira

Managing Director, The Carlyle Group
Carlos Ascuitti - EY

Carlos Asciutti

Partner, EY

Models, Guidelines, and Standards

This section provides relevant industry resources for Latin America private equity and venture capital fund managers and investors in areas including valuation, LP-GP relations and corporate governance. Guidelines are gathered from multiple industry associations, many of whom have worked together to develop consistent policies and to promote best practices in the global private equity and venture capital community.

LAVCA PE/VC TERM SHEETS

Argentina Map 2 Argentina (Spanish) (English)
Brazil Brazil (Portuguese) (English)
Mexico Mexico (Spanish) (English)

Valuation Guidelines

International Private Equity and Venture Capital Valuation Guidelines
LAVCA endorses the International Private Equity Valuation Guidelines (IPEV Guidelines) and considers them an acceptable method to be used by Latin America private equity and venture capital funds. The Valuation guidelines provide fund managers and investors with a framework to examine the value of existing investments. The guidelines are consistent with International Financial Reporting Standards (IRFS) and US Generally Accepted Accounting Principles (US GAAP).

LP-GP Relations

ILPA Private Equity Principles
The Institutional Limited Partners Association (ILPA) has developed a set of Private Equity Principles with the goal of strengthening the relationship and communication between limited partners and general partners. The ILPA Principles are structured around three guiding principles – alignment of interest, governance and transparency.
Environmental, Social, and Corporate Governance (ESG) Disclosure Framework for Private Equity
The Environmental, Social and Corporate Governance (ESG) Disclosure Framework for Private Equity was developed to help general partners (GPs) better understand the reporting requirements of limited partners (LPs) for ESG related information.

The Framework was produced in a process involving more than 40 limited partners from 11 countries, 20 Private Equity Associations – including LAVCA- and 10 general partners.

Other Guidelines

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