December 2011 / January 2012 Issue

    Month: December
    Year: 2011

    Back to Print Editions

    On the Record: Irving Place Capital

    What’s the best way to develop an effective operating partners strategy? Private Equity International asked David Knoch, senior managing director of Irving Place Capital (formerly Bear Stearns Merchant Banking)

    In memoriam: Ted Forstmann

    Theodore ‘Ted’ Forstmann, co-founder of buyout firm Forstmann Little, is remembered as a talented and philosophical dealmaker with a penchant for mentoring young professionals

    Founder out at CalPERS-backed Centinela

    The emerging managers-focused fund of funds, which has failed to win any additional mandates, has now also lost its founder Cesar Baez

    Benefit of the doubt

    Overseas-listed Chinese companies have suffered a reputational hit in the wake of some of their number being accused of fraud. That could make them perfect take-private targets

    Communication breakdown

    A recent report suggested that GPs are not as good at communicating with their LPs as they think they are.

    Northern stars

    It’s easy to see the attractions of investing in the Nordic countries at the moment: the region has historically yielded great returns, and is one step removed from the troubles of the neighbouring Eurozone. But what distinguishes the top performers? Oliver Smiddy went to Stockholm to ask three local industry players: Joakim Karlsson of Nordic Capital, Gert Munthe of Herkules Capital, and Odile Fallenius of law firm Vinge.

    The pension brain drain

    After an exodus of talent from public pensions this year, two of their number are looking at ways to become more competitive, writes Christopher Witkowsky.

    Africa: Managing expectations

    A lack of a management talent is perhaps the key reason why private equity interest in Africa has so far failed to translate into an explosion of activity, writes Clare Burrows

    Safer out east

    Private equity investing in Central and Eastern Europe is still not easy – but events elsewhere in Europe are changing the risk/return profile, writes Roger Hunt

    In Europe: Rethinking Europe

    The uncertainty in the eurozone is clearly hampering dealflow in Europe. But there will still be plenty of opportunities for savvy investors

    How to stop a BRIC sneezing?

    The Kremlin hopes to ease the continued concerns of foreign investors with the launch of the $10 billion Russian Direct Investment Fund. Sam Sutton reports

    Boston calling

    Thomas H Lee Partners has been investing in private equity from its single office in Boston since 1974. Since founder Tom Lee left in 2005 the firm has evolved and learned some difficult lessons – particularly during the last investment cycle – but Lee’s ‘culture of collegiality’ remains in place, co-president Scott Sperling tells Graham Winfrey

    After the storm

    The Arab Spring has fundamentally changed investor attitudes to the MENA region. But activity is starting to pick up again, reports Vicky Meek

    Texas ties the knot

    An innovative partnership between KKR, Apollo and a major US pension offers a sneak peek at the future

    Asia Monitor: What’s VIE-able?

    A potential crackdown on foreign investors using Variable Investment Entity (VIE) structures to back Chinese companies could prompt a flurry of deals in the short-term as well as an increased focus on investing via renminbi-denominated funds over the longer term

    All eyes on growth

    Making good, consistent returns in emerging markets is still hugely challenging. But with developed markets stagnating, these fast-growing economies are becoming increasingly difficult for private equity investors to ignore

    Betting on growth

    We recently caught up with Brahmal Vasudevan, former senior managing director at India’s ChrysCapital Investment Advisors and founder of Southeast Asia-focused Creador Capital, to discuss the outlook for Indonesian private equity

    First Round: Followers of fashion

    Whether it’s preppy Anglo-US brands, European designer labels, or, erm, art colleges, private equity’s appetite for fashion shows no sign of abating.

    First Round: Stand up for Steve

    Bill Hicks; Lenny Bruce; Richard Pryor; Jerry Seinfeld; Chris Rock... Now it seems there’s a new name to be added to the pantheon of great American stand-up comics: Steve Schwarzman.

    Capital crunch

    Has Asia’s third largest economy lost some of its lustre with limited partners? Hsiang-Ching Tseng reports

    China boosts its firepower

    This year’s PE Asia 30, a ranking of the firms that have raised the most capital over the last five years, highlighted the growing importance of RMB-denominated funds

    China: Patient capital

    China’s healthcare sector is attracting growing private equity interest, but challenges remain, finds Hsiang-Ching Tseng

    Brazil: Untapped pools

    Although private equity has flourished in Brazil, the country’s massive public pension funds have remained out of reach for international investors. That may change – but only for certain firms, writes Sam Sutton