Five minutes with M&G

Simon Faure, director and member of the investment committee at M&G Private Funds Investment, answers our quick-fire LP quiz.

What issues keep you awake at night?

Trying to imagine what trigger could cause a significant negative shift in markets and therefore liquidity, performance and returns. It’s been a decade since a significant downturn occurred.

What surprised you most in 2017?

Resilience of markets and confidence to the political and economic uncertainties that occurred.

What’s the biggest challenge in 2018?

Maintaining discipline in a selection of assets given the likelihood of sustained higher pricing, leverage and in some markets, slowing growth.

What are the most promising regions and strategies and why?

European mid-market, due to decent economic outlook and ability to create value through multiple levers.

What’s your one piece of advice for GPs?

Relentless focus on what makes your business work and what can improve the outcomes of investments; all else required will flow from the success of this, irrespective of cycle.

M&G Private Funds Investment is the private equity investment arm of M&G with £1 billion ($1.34 billion; €1.13 billion) in assets under management invested in private equity primary funds, secondaries and co-investments.