November 2009 Issue

    Month: November
    Year: 2009

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    Movers and shakers

    Some high-profile individuals can move easily between the worlds of politics and private equity. We identify leading examples of the breed from a US perspective

    <italic>LP intelligence from PrivateEquityOnline and PrivateEquityConnect</italic>

    LP intelligence from PrivateEquityOnline and PrivateEquityConnect 2009-11-01 Staff Writer ALLOCATION CHANGES Shell Pension Fund UK is considering a new 5 percent allocation to alternative assets. This will cover hed



    Going direct

    The new chief of an Alberta pension has decided to follow the lead of other Canadian LPs when it comes to investing in private equity

    Stanford comes to market

    But will buyers be able to meet its price expectations?

    Oregon marches ahead

    The Oregon Investment Council has taken the lead in demanding more LP-friendly concessions

    Right first time

    When can an LP be sufficiently confident to back a first-time fund? Sam Robinson reveals how a due diligence minefield awaits – and also how a select few will finally reach the other side

    VIETNAM<br/>Still a frontier

    One of Southeast Asia's fastest growing economies is attracting interest again, but it's too early to say the corner's been turned

    BANKING ASSETS The man in the middle

    Ex Apax professional Stephan Wilcke assumes a sensitive role as the UK Asset Protection Scheme's new chief

    INVESTMENT STRATEGY Natural next step

    Barclays is seeking to exploit a “gap in the market”

    EMERGING MARKETS Gaining ground

    The developing world is commanding an ever larger slice of the private equity pie

    EUROPEAN VENTURE The latest fiscal stimulus?

    With the flow of institutional capital to venture funds slowing to a trickle, government is considering taking the lead

    PAY-TO-PLAY SCANDAL A case to answer?

    Two former CalPERS executives are now placement agents under investigation

    UK RECEIVERSHI PS<br/>Sourcing the troubled

    New deal flow in the UK private equity market reflects the economic cycle

    PERFORMANCE Short-term drag

    Private equity returns are down 40% from two years ago

    CONSULTANCY Knowledge is power

    In times of trouble GPs put the call out for deep sector expertise

    GOVERNANCE A compromising position?

    The number of private equity representatives on the boards of some portfolio companies is raising questions

    When good intentions go bad

    The Directive on Alternative Investment Fund Managers seems to have departed entirely from the guiding principles in which it was rooted

    HUMAN CAPITAL Lehman's latest revival

    The architect of Lehman Brothers' private equity strategy is to head a new investment business with the firm that advised on its overhaul in bankruptcy

    The world this month

    The world this month 2009-11-01 Staff Writer FUNDRAISING WINNERS AND LOSERS HELLMAN & FRIEDMAN CLOSES $8.8BN FUND The San Francisco firm has raised the year's second-largest fund which, at $8.8 billion, i

    PLACEMENT AGENTS Not your father's placement business

    Kevin Albert worries about the future of the industry he helped create

    Deal fees: the root of all evil

    LPs are increasingly resentful of GPs who cling to this revenue source

    Whisper it quietly

    Whisper it quietly 2009-11-01 Staff Writer Are the worst times behind us, as Blackstone Group chief executive Stephen Schwarzman suggests? Certainly, his own firm's recent activity provides some room for optimism: the €2.6 billion sale of Orangina Schweppes to Japan's Suntory Holdings and the $2.7 billion ac

    Back from the brink?

    Candover has had the toughest time in its 29-year history. Toby Mitchenall examines the events that have pushed it to the edge and asks what the future may hold

    IN MEMORIAM Lionel Pincus: 1931 – 2009

    IN MEMORIAMLionel Pincus: 1931 ? 2009 2009-11-01 Staff Writer Lionel Pincus, the founder of global prvate equity firm Warburg Pincus, died in October aged 78. Pincus formed Warburg Pincus, one of the largest private equity firms in the world today, via the 1966 merger of Lionel I Pincus & Co,

    Fish tacos: a fresh LBO idea

    Fish tacos: a fresh LBO idea 2009-11-01 Staff Writer Many of our European readers can be forgiven for having not heard of fish tacos because, truth be told, possibly 70 percent to 80 percent of our North American readers are similarly and sadly unaware of this great culinary innovation.

    Should Guy be following the herd?

    Should Guy be following the herd? 2009-11-01 Staff Writer Terra Firma has decided to round up some more cattle by paying A$48 million ($40 million) to add Wrotham Park, a cattle ranch in North Queensland, Australia, to the A$425 million Consolidated Pastoral (CP) acquisition it completed in May. CP is Austra

    Multi-tasking Myners

    Multi-tasking Myners 2009-11-01 Staff Writer There seems to be some confusion over Lord Paul Myners' role within the UK government. Officially, the veteran businessman was appointed Financial Services Secretary in October 2008 – just in time to work on the UK's emergency £500 billion (€548 billion; $820 bill

    ANNEX FUNDS A partner less limited

    The new annex fund raised by Investindustrial has brought limited partners closer to the investment process