April 2010 Issue

    Month: April
    Year: 2010

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    Letter from … Dubai: Keeping it in context

    In today’s extraordinarily tough global fundraising environment, MENA-focused managers are tasked with a tall order: explaining Dubai’s debt debacle, writes Amanda Janis

    Buying into success

    Indian financial services company Religare has billion-dollar plans for the asset class. Chris Witkowsky reports.

    LP handcuffs

    New rules being mulled in both the US and Europe would shrink the universe of LPs allowed to invest in private equity funds.

    Hope springs eternal

    Colombia’s second-largest pension and the UK’s Pension Protection Fund are two recent institutions to carve out portions of their funds to invest in alternatives.

    Buyouts in the blood

    Fresh from the blockbuster exit of Pets at Home, Bridgepoint managing partner William Jackson talks to PEI about high prices, expanding the franchise and why private equity is still anything but an ‘easy business’. Toby Mitchenall reports

    A pledge of allegiance

    With some LPs hesitant to give GPs carte-blanche with their money, the popularity of the pledge fund has resurged. Fadi Samman of law firm Akin Gump highlights some issues to keep in mind when negotiating the terms and conditions for such a vehicle.

    Ohio strikes back

    A public pension in Ohio has threatened Permira because a portfolio company may lay off workers it the state. The move could portend tougher days ahead for firms that need to cut costs at the expense of American workers, writes Christopher Witkowsky.

    Advancing to final close

    Raising a private equity fund in 2010 is not a task for the fainthearted – long gone are the days when GPs could easily double fund sizes and rely on re-ups. With colour-coded references to the Capital Pursuit! board game in April’s issue, PEI examines a selection of the complex issues one must navigate in today’s global fundraising market.

    A shrinking pool

    Banks and insurers – two of France’s most active LP groups – are being pulled back from the asset class, writes Toby Mitchenall

    Carried away

    Research presented at a roundtable in Belgium challenges some fundamental tenets of the asset class - such as the infallibility of carry as an effective incentive.

    State of play

    Fierce competition for deals in France is being exacerbated by government vehicles playing in the private equity space, writes Toby Mitchenall

    Credit bet

    Two mega-firms, Carlyle and KKR, are looking to take advantage of the enormous amount of debt coming due in the next few years.

    Quadrangle redrawn

    After years of distractions, the firm will ‘rededicate’ itself to private equity. David Snow reports.