December 2012 / January 2013 Issue


    Month: December
    Year: 2012

    Back to Print Editions

    EMERGING MARKETS: A small talent pool

    There are one billion people on the continent of Africa – but GPs are still struggling to find the managers to run their portfolio companies, writes Yolanda Bobeldijk

    EMERGING MARKETS: Changing perceptions

    Does the success of Baring Vostok’s recent fundraising suggest that international LPs are now willing to overlook some long-held concerns about Russia? Yolanda Bobeldijk reports

    EMERGING MARKETS: An image problem?

    CEE countries offer better growth prospects than Western Europe. But are investors struggling to find the right place for it in their portfolio? By Dan Colombini

    EMERGING MARKETS: Further east

    Istanbul’s opportunities have long overshadowed those in Turkey’s Anatolian region – but that is beginning to change, says Vicky Meek

    EMERGING MARKETS: After the Arab Spring

    This year, we asked a cross-section of GPs and LPs whether the Arab Spring has affected their appetite for investing in the MENA region – either positively or negatively. Here’s what they had to say

    Emerging fastest

    Which Asian-headquartered firms are making the greatest strides on the fundraising front? Here are five rising stars to emerge from this year’s PEI 300. By Clare Burrows and Michelle Phillips

    EMERGING MARKETS: A surfeit of secondaries

    Tightening exit conditions have increased the incidence of secondary deals in India – but it’s also a sign of the industry’s evolution, writes Siddharth Poddar

    EMERGING MARKETS: Access problems

    For private equity limited partners looking to get exposure to the whole Southeast Asia region, there are not many options available, writes Siddharth Poddar

    EMERGING MARKETS: What’s mined is mine

    Government regulation and sudden tax hikes are restricting foreign investment in Mongolia’s remarkable growth story, writes Jessica King

    Private to Public: The trouble with turnarounds

    The acrimony over the collapse of OpCapita-backed UK retail chain Comet may have far-reaching consequences for turnaround specialists

    EMERGING MARKETS: Lower RPMs

    2012 was the year the world’s growth engine slowed

    Nicholas Pye: Hominem te memento

    Pye basks in the glory of his investment committee success - and catches up with his man in Athens

    EMERGING MARKETS: Parallel thinking

    Kinea Investimentos structured its new fund in an unusual way – so it could expand its LP base beyond its demanding domestic pension funds. Sam Sutton reports

    Deal Mechanic: Baird Capital Partners Europe / Aston Carter

    Baird Capital Partners Europe managed to grow a financial services recruitment business substantially during the downturn – thanks largely to some savvy repositioning

    EMERGING MARKETS: Adjusting, slowly

    Emerging markets seem to be slowing down – and some of the hottest markets look in danger of overheating. But there are still fabulous growth opportunities to be found.

    Operating partners go plural with Apax

    As it gradually builds out its internal team of operators, Apax is hoping that a flexible employment model will be a useful recruiting tool, writes James Taylor

    Venture-backed IPOs: Holding out for returns?

    LPs usually want venture firms to sell or distribute publicly-quoted stock as soon as the lock-up period expires – but that may not be in investors’ best interests, writes Michelle Ashworth

    Wellspring's convenient connection

    US firm Wellspring figured out that a chain of convenience stores in West Texas would profit from the strong growth of the US oil and gas industry, writes Christopher Witkowsky

    Privately Speaking: Nino Tronchetti Provera of Ambienta

    Nino Tronchetti Provera’s Ambienta focuses on growth businesses with an environmental twist. It’s hard to dispute the Italian firm’s basic investment thesis – but as it prepares to raise a second fund, has it done enough to convince LPs that it’s worth backing?

    Cashed out in Macau

    Permira got its timing right with its 2007 investment in Macau casino Galaxy. But it may be too late for other investors to follow in its footsteps

    On the Record: Ruulke Bagijn of PGGM

    Dutch investment manager PGGM manages roughly €128 billion for five pension fund clients, with a 6 percent private equity target. As it continues to build its in-house expertise following the sale of its interest in Alpinvest, Ruulke Bagijn – who joined to lead that sale, later became its private equity head and is now CIO of private markets – talks to PEI about its progress, plus its focus on responsible investment

    First Round: .007x

    When First Round was a very small magazine intro section, First Round Snr had a very curious episode, shortly after turning 40. First he dyed his hair blonde. Then he bought a pair of leather trousers. Then he got a bright orange Ford Capri.

    OPTrust: Under scrutiny

    OPTrust has appointed William Hatanaka as its new CEO – but the fall-out from the acrimonious departure of his short-lived predecessor rumbles on. By Graham Winfrey

    Investor Base: Numbers on the board

    LPs enjoy a big rise in distributions from fund managers as recession and ‘golden age’ vintages mature, writes Sam Sutton

    Metric starts from scratch

    Metric Capital Partners has put together a high-powered team from the private equity world to try and tap into credit opportunities in the European mid-market. By Oliver Smiddy

    LP Radar: Beware dividend recaps?

    Dividend recaps are undeniably controversial. But they’re a perfectly legitimate way for managers to get much-needed capital back to their LPs – as long as they’re done right