June 2013 Issue

    Nicholas Pye, Buyout Guy: No Pye in team

    Pye wonders why buyout guys are so much better at firing other people's staff than their own.

    Secondaries and a Twitter hoax

    The reaction to a recent White House attack rumour showed that the current public market rally is based on very flimsy foundations. LPs with secondary stakes to sell shouldn’t be sitting on their hands just because their equity portfolio is up.

    Oregon joins separate account party

    Separate accounts are big business – as the success of Blackstone’s Tactical Opportunities Fund proves.

    Deal Mechanic: Synova Capital & DBG

    In three years, Synova Capital helped reposition dental services business dbg, tripling EBITDA and generating 77% IRR on exit.

    Weijian Shan: Strategy crucial to tapping China growth

    Weijian Shan, chairman and chief executive buyout firm PAG: choosing correct stategies and sectors are key to success in China

    First Round: Taken to school

    When First Round closes its eyes in slumber of an evening, it often floats away to its happy place: sitting in a data room with real-life private equity types, slogging away on a real-life deal.

    First Round: A laughing matter

    They say ‘laughter is the best medicine’. First Round is skeptical about this notion, preferring to trust in clinically-trialled pharmaceuticals.

    First Round: Love, outsourced

    Match-making for Private Equity types.

    Dear & Ailman: Smashing 2-and-20

    Fees top the CalPERS and CalSTRS agenda say Joe Dear and Chris Ailman, the CIOs leading two of the most influential LPs.

    PE searches for Asia's next internet giant

    Private equity investors place their bets on which Aisan internet business will challenge Google, Facebook, Twitter et al.

    Marks-ist philosophy

    Oaktree’s Howard Marks took to the stage in California recently discussing the nature of risk

    CEE roundtable: Eastern promises

    PEI went to Warsaw to ask three industry experts if time is right to reconsider investing in Central & Eastern Europe.

    Leveraged finance review: Asia's learning curve

    With Chinese LBOs expected to increase, domestic banks are learning the nuances of leverage financing through offshore units

    Leverage finance review: Europe's ongoing challenge

    After a tough couple of years for the European institutional lending market, volumes are slowly creeping up again

    Leveraged finance review: North America's demanding problem

    Capital abounds for private equity deals of all sizes in North America.

    Australia Report: Country boys face the music?

    The bedrock of Australia’s private equity industry has long been strong domestic managers. But the post-crisis landscape is starting to make life more difficult for them.

    Privately Speaking: Clearlake Capital's José Feliciano

    José Feliciano says Clearlake aims to be just like everybody else – only better.

    EVCA at 30: Trial by fire

    30 years since EVCA came into being, it’s learnt some hard lessons and made some big changes.

    The fate of the mega-deals

    What happened to the biggest deals completed in the boom years, in some cases still unexited?