November 2011 Issue


    Month: November
    Year: 2011

    Back to Print Editions

    Bunker mentality

    Boston-based firm Bunker Hill Capital has been fishing for deals in the US lower mid-market since 2003. PEI speaks to the firm’s co-founder and managing partner, Mark DeBlois, about finding opportunities under the radar of the larger US buyout shops

    Long player

    Lexington Partners’ founder Brent Nicklas has spent the last 20 years trying to create LP-friendly products – and in doing so, has built one of world’s biggest secondaries managers. In a rare interview, he tells James Taylor that it’s time for private equity to start focusing exclusively on its most important constituency: investors

    A long, hard slog

    GPs have been asking LPs for more time to raise their funds, in what remains a particularly inhospitable environment, writes Christopher Witkowsky.

    The falling knife

    Ongoing valuation declines are scuppering limited partners’ efforts to close secondary sales before the end of the year

    Big screen, big profits

    Carlyle’s latest Chinese investment looks like a one-way bet on one of the entertainment world’s biggest growth stories

    Hard to please

    Is the Australian private equity market set for a shakeout? The difficulties some managers are having raising funds – for reasons largely out of their control – certainly suggest as much, writes Jeffrey Hutton.

    Carry favour

    Next year, one of these Republicans hopes to replace Barack Obama as US President. With financial regulation and taxation high on the political agenda, who would be the best bet for the private equity industry?

    Volcker uncorked

    If banks were hoping for clarity from the latest details on the Volcker rule, they’ll have been sorely disappointed

    For a few Dollars more

    KKR’s operational improvement arm KKR Capstone is much more than just a ‘slash and burn’ unit. Christopher Witkowsky goes behind the scenes at one of KKR’s biggest investments, Dollar General, to find out more

    Again, with Gusto

    After agreeing Japan’s largest buyout in two years, Bain Capital will be hoping to fare a lot better than its new asset’s previous private equity owners

    In Europe

    Success stories – like the recent close of EQT’s new fund – are the best (and only) way to dispel the negative sentiment currently swirling around the continent

    Starting over

    Cognetas says it will press ahead with its current portfolio despite its well-publicised problems. If it’s serious about raising a new fund, it doesn’t have much choice, writes Oliver Smiddy

    An emerging problem

    Some firms rely on local talent to crack new markets. Others prefer to import their own. Both approaches carry a degree of risk

    More money, more problems

    Rising salaries in Asia are a mixed blessing for the private equity industry

    Simpler, by ILPA

    The industry trade organisation’s best practices for GP quarterly portfolio company reporting will hopefully make life easier for all concerned.

    The upside of distress

    A sensible allocation to distressed debt and related strategies within a portfolio can smooth out volatility and boost returns, says CalPERS’ Réal Desrochers

    Venture’s lost decade

    The 2000s were disappointing for venture capital as an asset class. Perhaps there just isn’t enough room for all the institutional dollars allocated to it? David Snow explores