At press time, a multimedia story regarding PEI's annual Global Award Winners celebration was quickly climbing our most-read stories chart. The awards each year give the industry a chance to democratically honour the standouts of the private equity community. The outcome is determined entirely by PEO's and PEI's global poll – not our publications' editors – making them the only entirely democratic awards in the industry.
As we noted in a recent Friday Letter, however, there is one award we don't allow readers to vote for: our Private Equity Leader award. We choose one person who, over the course of his or her career, has made a crucial contribution to the development of private equity as an industry and an asset class. They have helped private equity grow into the position of influence it occupies today, and they continue to lead by example. They are people with big ideas, an appetite for risk, and often colourful personalities.
This year the award went to Jeremy Coller, founder of secondaries giant Coller Capital, who said it was a “sign of the times” that a secondaries player should be recognised as this year's leader. With many institutions and even fund managers starved for cash, and active portfolio management an increasingly popular practice among LPs, the secondaries market is set to play an ever more important role for fund managers and investors.
A look at the past month's 15 most popular stories among PEO's global readers shows liquidity – who has it, who doesn't have it, and how to get it – is indeed on everyone's mind. As our journalists continue to report vigorously on these subjects, we're proud to be addressing some of those themes in late June in the form of PEO's debut webinar, Sourcing follow-on capital in times of crisis. As private equity firms increasingly face up to the need to take defensive action to preserve portfolio companies, LPs and GPs alike need to understand all the options available to them and how best to confront subsequent obstacles. We've assembled a leading group of experts to explore this vital topic.
It's the first in a series of live webinars that will enhance PEO's daily news coverage with an online, interactive platform for market participants to delve deeper into key industry issues. We hope you'll be joining us and look forward to bringing you plenty of such features built around current news coverage.