President-elect Joe Biden’s proposed tax increases provide incentives for privately held businesses to “sell sooner than later,” says EY’s Bill Casey. “Following a tax rate increase, there would likely be an increase in joint ventures and alliances.”
“The private equity industry welcomes the new administration and is very appreciative of the common sense approach that President- elect Joe Biden is signaling,” Pam Hendrickson, COO, the Riverside Co., says.
Republicans still receive more money overall from bankers, but the gap is narrowing ahead of the November elections. Experts say that the trend corresponds with signs of a “blue wave” and that many in the industry prefer Democrats on nonregulatory issues.