July / August 2009 Issue

    Month: July
    Year: 2009

    Back to Print Editions

    Sign of the times

    Commentary on the month's hottest private equity stories by Amanda Janis, editor of PrivateEquityOnline

    ‘There is a degree of hostility towards annex funds’

    Campbell Lutyens is an independent private equity advisory firm with offices in London and New York. Founded in 1988, it focuses on fund placements as well as the sale or restructuring of portfolios of private equity fund or direct investments. PEI caught up with managing partner Andrew Sealey to find out how GPs and LPs are dealing with the current situation

    Gathering the best of private equity

    In early June, winners of PEI's annual awards assembled at London's Victoria & Albert Museum for an evening of celebration. Among the luminaries was Jeremy Coller, who picked up our second Private Equity Leader award

    Adjusting to a new reality

    What's the future for placement agents in the wake of the kick-back scandal in the US? Christopher Witkowsky investigates

    How to avoid a default debacle

    With LP defaults becoming a more common occurrence, GPs need to understand all the implications for the management company, the fund and other investors. Jennifer Harris explores the issues

    A time for long-term capital

    As the economic crisis tightens its grip on Europe's largest economy, and lenders remain on the sidelines, mid-market private equity investors are pointing to reasons for optimism. Where else, they ask, can German businesses turn to for funding in this time of need? In June, Philip Borel travelled to Munich to quiz four leading professionals about the way forward for their industry – and found them in a buoyant mood.

    Oregon's fee showdown

    The OIC is holding out for better terms from Fisher Lynch, as the latter seeks commitments for a new fund. Christopher Witkowsky tracks developments

    ‘An ocean of companies ready to emerge’

    PEI caught up with Alvaro Goncalves of Brazilian midmarket private equity firm Stratus Group to find out why he's optimistic about the country's prospects

    Generation game

    Why one fledgling Kenyan fund finds the new wave of entrepreneurs a good bet

    A crisis of confidence

    South African GPs are facing a tough market

    Kingdom of opportunity

    Why the opening of Abraaj Capital's office in Riyadh reflects Saudi Arabia's efforts to court private equity. Jenny Blinch reports

    A vote of confidence

    Indian private equity firms are hoping the election result will bring a host of new opportunities their way. By Amit Ratanpal


    ASIA IN BRIEF 2009-07-01 Staff Writer BAIN LOSES MANAGING DIRECTOR IN JAPAN Junichi Shiroshita, a managing director at Bain Capital's Tokyo office, left the firm at the end of April, Bain confirmed. Shiroshita was one of three managing directors for Bain in Japan. Bain

    A tale of two emerging giants

    In China, investors are bullish about the outlook for levels of investment. In its closest rival India, confidence has taken a hit

    Domestic bliss

    The Chery Automotive deal illustrates the growing bargaining power of China-domiciled private equity funds. Andy Thomson finds out how foreign investors are being forced into the slow lane

    The old ones are the best

    Limited partners are increasingly attracted to Europe's more mature private equity markets

    Don't double discount

    Operational improvements are a tough way to add value – a more straightforward way may be to stop discounting your investments more than you need to


    EUROPE IN BRIEF 2009-07-01 Staff Writer ANACAP RAISES €575M FOR FINANCIALS Financial services-focused AnaCap Financial Partners has closed its second fund on €575 million, almost double the size of its predecessor, which closed in 2006 on €300 million. The fund will co

    How to go green

    A new fund of funds is aiming to provide a link between low carbon technology and sources of capital

    The EVCA's new voice

    The association is shaping up to better represent private equity firms across Europe

    A step too far

    The receding hedge fund tide has revealed a detritus of private equity LP interests. Christopher Witkowsky reports

    Giving something back

    As limited partners push hard on issues like management fees, private equity firms are responding in a variety of ways. We examine the most significant GP concessions in the face of adverse market conditions – and also one instance of a fierce rearguard action


    NORTH AMERICA IN BRIEF 2009-07-01 Staff Writer ILLINOIS RAISES PRIVATE EQUITY TARGET The Teachers' Retirement System of Illinois recently committed $175 million to private equity funds and raised its target allocation to the asset class from 8 percent to 10 percent in

    Where <italic>PEI</italic> leads, others follow

    Where PEI leads, others follow 2009-07-01 Staff Writer Little did we know we'd be setting a trend with our now well-established “Haiku of the month”. London's Evening Standard newspaper recently launched a haiku competition for Londoners, which it say

    The son also rises

    Tagg Romney, son of former US presidential candidate Mitt Romney, is closing in on his first private equity fund

    Proof the lawyers always win

    Proof the lawyers always win 2009-07-01 Staff Writer Convert your opportunities when they come along – a good piece of advice in today's private equity market, and a skill that can also transfer well to the soccer pitch. At least, that's what a team representing law firm Cleary Gottlieb Steen & Hamilton

    Flanigan's letter

    The SEC has known for a long time that fund managers get pressured into making campaign donations to public pension officials

    Dueling Petersons

    Dueling Petersons 2009-07-01 Staff Writer Will someone please help the Peter Peterson clan coordinate its PR strategy? The very summer that the pater familias and co-founder of The Blackstone Group comes out with his autobiography, grandson Peter Carey Peterson (friends call him

    The rise of the communicators

    The rise of the communicators 2009-07-01 Staff Writer Many in the private equity market have been caught off guard lately by the many pitfalls and imperatives tied to their communications strategies. A function of the firm that was once an afterthought is now front of mind, as you'll read in this issue of &l