Carried Interest Reform Risks NY Fund, Developer Exits

Law360, New York (January 15, 2014, 7:38 PM EST) -- The call from New York City's new comptroller to close the so-called tax loophole for carried interest, or the share of profits earned by investment funds based on the performance of an asset or deal, has some experts concerned about an exodus of funds that could harm real estate deals and cost the state jobs.

Comptroller Scott Stringer told the New York Post this week that he planned to encourage state legislators to end the current exemption offered to private equity firms and funds from the Unincorporated Business...
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