What are the specific risks involved in a U.S. joint venture for a foreign institution?
As a Chinese private equity fund weighing the options for expanding our portfolio in the United States, we are concerned about the potential risks involved in a joint venture. We want to be involved and active in our investment, but with minimal risk. Our greatest concern is the risk of being liable for a partner's tax liability, even for actions pre-dating the partnership. What other concerns can we be aware of?