So much for the fund IPO speed bump

Some people thought that all the furor over the so-called Blackstone Bill, which would boost taxes on partnerships that go public (unless you have a Blackstone-esque exemption), might dampen the party for alternative asset managers. My view was that it just might ignite a stream of offerings. An exemption can be had by others as long as they are in registration before the law takes effect (if there ever really is a law). Unsurprisingly, an acceleration of plans may be in the works. KKR will file soon. Most assume Texas Pacific and others will follow. Financial News Online reports that hedge funds are also queuing up. AQR Capital Management is expected file for an offering soon. There's a lot of talk about Citadel, Avenue Investment Management, Perry Capital and DE Shaw. That said, if the carry on partnerships were to be hit with income taxes, as a new bill proposes, then we might see a lot of companies drop plans. In any case, the attitude for now seems to be that the clock is running and the market is ripe. As many as 20 could register.

For more:
- here's the article from Financial News Online