Possible change to carry tax fails to deter flotation

A plan to reintroduce a bill that would significantly increase the rate that carried interest is taxed did not hinder Pzena Investment Management's flotation. Shares of Pzena, which manages more than $30 billion in assets, soared on its public debut and raised $92.6 million. Charles Rangel, chairman of the House Ways and Means Committee, plans to reintroduce the bill in 2008.

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