CEPRES co-investment report

Co-investment is ‘not a silver bullet’ – report

Median co-investment returns have plummeted from a high of 56% in 2003, according to data from CEPRES.

Private equity bets big on India despite election slump

Fewer deals are being done, but more capital is being deployed, according to data from Grant Thornton.
fund admin

Blackstone becomes latest blue-chip manager to tap secondaries market

The firm is set to close a deal to move one asset from its $7bn 2012-vintage Tactical Opportunities Fund into a continuation vehicle.
Australia

Riverside makes Australia primary focus of latest Asia-Pacific fund

The change reflects Australia and New Zealand’s disproportionate weighting in Riverside Asia-Pacific Fund II, a $235m 2012-vintage.

EBITDA on steroids

The EBITDA addback is one of the most worrying aspects of loan documentation. Market professionals detail how prevalent and potentially damaging it has become.

China’s tech revolution creates diversification headache for LPs

A growing number of Chinese businesses are being marketed as TMT-based, an industry conference in Hong Kong has heard.

SWFs go big on tech, healthcare directs – report

Sovereign wealth funds want more exposure to disruptive, tech companies and doubled early-stage investments last year, according to an industry body.

Investcorp acquires placement firm Mercury

The transaction is part of the Bahrain-listed firm’s expansion and global growth plan to boost its AUM to $50bn.
Time

Why Australia’s BGH needn’t worry about slow deployment – yet

TPG veteran Ben Gray’s firm is understood to be using credit lines to avoid fee-drag on Australia’s largest first-time fund.

Carlyle mulled Africa fund stapled deal – exclusive

The private equity giant approached secondaries buyers about acquiring LP stakes in its 2013-vintage Sub-Saharan Africa Fund and making a stapled commitment to its successor.
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