Adam Le

CalPERS’ next decade could hinge on its co-investment programme

The US’s largest public pension is right to want to better align itself with managers to access the highest-quality assets.

Do NAV loans really destroy the raison d'être of limited partnerships?

NAV loans for LP distributions were a hot topic – some might say even a spicy one – at an industry gathering in Paris this week.

Advent mulls single-asset CV for enterprise software developer Xplor

Advent is among a group of PE powerhouses including Clearlake and Vista that are exploring CV processes for their software companies.

Florida SBA's Bradle: Top-quartile returns are not enough today

The $258bn US pension wants to know whether a GP's performance is repeatable – something that's often down to the manager's expertise in sector specialisation, according to senior portfolio manager Wes Bradle.

Carry tax increase in the UK: Anarchy for PE or a new reality?

In the latest episode of the Spotlight podcast: lessons the UK can learn from other tax jurisdictions; why it’s unlikely professionals in the UK PE industry will leave en masse; and what 'capital at risk' may really mean.

Investcorp shakes up leadership structure with co-CEO to leave firm

Hazem Ben-Gacem, a three-decade veteran of the firm, will leave his role in November as the Gulf's biggest private equity firm reorganises its internal units.

What do LPs really think of continuation funds?

Investors including Alaska Permanent, Caisse des Dépôts, Skandia, New York City Retirement Systems and TRS Texas share their views on how this market can be improved and how they are positioning themselves to take advantage of CVs.

LPs foot the bill for 'last mile’ legal costs in fund stake transfers

Transfer agreements are seen as a $100,000 'copy & paste job' by some and 'complex legal contracts' that law firms are losing money on by others.

Houlihan hires CVC director for GP stakes advisory expansion

The hire will also help further the bank's advisory work in control deals, firm-level financings and NAV loans.

How much flexibility is too much in PE valuations?

A recent report shows GPs may have developed tricks to downplay the underperformance of some assets, resurrecting the question of how much wiggle room is needed in valuation processes.