Accept By continuing to browse this site you are agreeing to our use of Cookies. To find out more about our Cookie policy, please click here

PEI_Register_Web_new
Please Wait...
 
  • Magazine

    Year:

    Please Wait...
  • Please Wait...
  • PEI-JULY17-Cover-image

    July 2017 Issue

    Features
    Clessidra's outsider owners on how they revitalised the firm

    In 2016 the death of Clessidra’s founder and figurehead threw the Italian firm into disarray and threatened to scupper a fundraising process. PEI meets the man charged with riding to the rescue.

    The LP landmarks from the last 20 years

    The moments that have shaped private equity since 1997, against the backdrop of fundraising and returns generated by vintage.

    Up or down: tracking LP allocation changes

    Institutional investors around the world are tailoring their allocations. The good news for GPs? Most of them are going up

    Lies, damned lies and performance

    Can past performance help LPs pick future winners?

    The Ford Foundation's new impact mission

    The Ford Foundation’s $1bn mission-related investing programme is sending a message not only to GPs but also to its peers.

    Jump in the UK public pension pool

    The splintered UK public pension system has been amalgamated into eight funds. PEI investigates how the new pools work and the way each will treat private equity.

    Korean institutional investors move towards alternatives

    The low interest rate environment and a shrinking domestic market means Korean institutional investors have nowhere to go but alternatives.

    GPs must drive dealflow as German valuations soar

    Valuations are sky-rocketing across Europe thanks to plenty of capital, and Germany is no exception. In this environment, GPs must relentlessly drive dealflow — because not investing is not an option.

    Fund Finance Focus: GPs are 'lining up' to use facilities

    Jeff Johnston, chairman of the Fund Finance Association, and FFA secretary Mike Mascia, an attorney at Cadwalader, Wickersham and Taft, say use of the facilities is widespread.

    Fund Finance Focus: Modelling the effect of credit lines on returns

    We know subscription credit lines can boost IRRs and dampen money multiples, but what does that look like in practice? Private equity advisory firm TorreyCove models it out.

    Fund Finance Focus: Some GPs are 'abusing' credit lines

    Olivier Carcy, who oversees a $3.2bn private equity programme at wealth manager Indosuez, argues LPs should be compensated for the use of their credit rating.

    Deal Mechanic: Warburg Pincus improves liquidity in blood company

    Over nearly seven years, Warburg more than doubled EBITDA at China Biologic Products and created a booming plasma-based drugs company.

    CVC keeps terms tight on €16bn mega-fund

    CVC’s €16bn Fund VII commanded €30bn of interest, despite a 6% hurdle rate and no early-bird discount.

    Seeking value in carve-outs

    In a high-valuation environment, traditional buyouts are not always the most attractive.

    Apollo's bid to raise a record private equity fund

    Apollo’s ability to buy cheaply and adapt investment strategy will count in its favour as it tries to raise the largest PE fund ever.

    How the latest election shock affects private equity

    For the second time in a year, the British electorate delivered a surprise. The PEI team asks what it means for private equity.

    KKR has a yen for Japanese corporates

    The transforming Japanese landscape will prove key to the successful deployment of KKR’s newly minted $9.3bn fund.

    Do key-man provisions do what they are supposed to?

    Do key-person provisions achieve what they are supposed to?

    Why investors should ignore Trump's Paris decision

    Investors should be wary of ploughing money into stranded assets, irrespective of President Trump pulling the US out of the Paris agreement.

    Regulation Watch: The enforcer is here

    There is a new head for the enforcement division at the US Securities and Exchange Commission and moves to increase oversight on pension fund investments in alternatives.

    Where Are They Now? Jason Gull

    After the adrenalin-rush of private equity, Adams Street Partners’ former head of secondaries is enjoying retirement training with Olympians in Utah.

    Data Room: Hack to the future

    The threat of digital attack is expected to increase dramatically over next five years.

    First Round: illuminating Luxembourg

    Why Luxembourg isn't quite as bad as Coventry.

    First Round: run, PE, run!

    Private equity makes a good showing in the annual JPMorgan corporate challenge.

    First Round: The best kind of fundraise

    Private equity comes together for Manchester.

    Energy: Secondaries pricing shows signs of bouncing back

    After a tough couple of years, energy secondaries prices have shown signs of bouncing back in 2017. We look at the drivers behind the recovery and where the investment opportunities lie.

    Energy: Why upstream and midstream yield attractive opportunities

    Diversification is key for institutional investors, but the upstream and midstream sectors yield some of the most attractive opportunities.

    Energy: Why Christian Super is geared towards emerging markets

    Tim Macready, chief investment officer at Christian Super, explains why its energy strategy is geared towards emerging markets, with a focus on renewables.

    Energy: LPs take on Trump over Paris pull-out

    Leading pensions and insurers have made their views known in stark terms after the US president’s decision to ‘get out’ of the Paris agreement.

    Energy: An important win over solar subsidy cuts

    EISER’s arbitration victory over the Spanish government’s retroactive subsidy cuts gives hope to investors.

    Energy supplement: Has battery storage come of age?

    Is battery storage finally coming of age as an asset class? There is no doubting its growth potential to tackle the intermittency issues from solar and wind power.

    Energy supplement: Volatile times

    The downward pressure on oil prices is reflected in a slump in energy fundraising over the last 18 months.

    Energy supplement: The return of dealflow

    A stabilised oil price is driving renewed M&A activity, but will gas assets emerge as the most profitable option in the long term?

    Energy supplement: Energy Capital Partners on private credit

    The US energy industry annually demands vast amounts of growth capital, says Doug Kimmelman, the founder of Energy Capital Partners, but availability is uneven and debt supply is constrained for smaller energy firms, creating an opportunity for specialised lenders to earn attractive risk-adjusted returns in the private credit market.

    Keynote Interview: Foresight on diversifying an energy portfolio

    The global energy market is undergoing a once-in-a-lifetime upheaval, opening up opportunities across generation, flexible grid infrastructure such as energy storage, transmission and distribution. Dan Wells, partner at Foresight Group, discusses how investors can take advantage.

    Energy investing: 5 charts that matter

    Limited partners are becoming more selective about managers amid fierce competition for capital.

    July
    PEI-ENERGY-JULY17-Cover-image

    The 2017 Investing In Energy Special