November 2010 Issue

    Month: November
    Year: 2010

    Back to Print Editions

    Englishmen in New York

    3i plans to shift its deal origination efforts to the US and make a start on its stateside infrastructure programme

    Showdown in New York

    Guy Hands’ epic lawsuit against Citi has given insight into the normally secretive inner workings of the private equity business.

    The hold-at-cost effect

    A new study argues that conservative valuation practices have likely exaggerated long-term private equity performance.

    On your mark…

    As a number of firms line up to brave the fundraising market, what fund term demands can they expect from LPs?

    Up for the challenge

    In late September, PEI sat down with Permira co-heads Tom Lister and Kurt Björklund to discuss how the European private equity powerhouse is faring in the post-crisis world.

    The ‘red herring’ of debt

    Private equity firms use ‘as much leverage as possible’, research says, but is it really such a bad thing?

    On the record: Seymur Tari, founder, Turkven Private Equity

    Turkven founder Seymur Tari tells PEI what’s next for the firm and the burgeoning Turkish private equity industry.

    First birthday

    ILPA’s ‘Private Equity Principles’ turned one year old in September. The guidelines have divided GP opinion, but have undoubtedly inspired useful conversations.

    Rollercoaster ride

    The Iberian economy may be a little scary, but some GPs in the region are looking on the bright side.

    The pricing puzzle

    Existing valuation methods don’t cut it. Cyril Demaria asks what the fair price of a private company actually is.

    A princely scandal

    The outcry over New Horizon Capital’s recently unwound pre-IPO investment into Sihuan Pharmaceuticals has led the industry to question once again whether the children of politicians have any place at a private equity firm

    P2P rush: Take three

    Are the stars finally aligned for a fresh round of public-to-privates?

    A thorough inspection

    Co-investment programmes are becoming increasingly attractive as LPs look for ways to boost returns and squeeze costs in their private equity portfolios. In an extract from PEI’s latest book "The Definitive Guide to Private Equity Fund Investment Fund Due Diligence", Kenneth Van Heel of the Dow Chemical Company guides LPs on some of the finer points of the due diligence process.

    PCG’s California problem

    Pacific Corporate Group was terminated by CalPERS in October after a decades-long relationship. It is not the first time the firm has been fired by a public pension

    Uniquely India

    China and Brazil’s private equity markets were commonly used benchmarks at October’s PEI India Forum, in which Indian practitioners sought to define their market.

    Where on earth are we?

    Delegates at this year’s EVCA Buyout Forum all turned up at the right address, but raised many questions about where we really are in terms of the economic cycle and the development of the asset class.

    Introducing Devco

    The South Carolina Retirement System is going further than its US pension peers to cut costs, by creating an in-house management company to make direct private equity investments