October 2013 Issue

Who are the most influential lawyers working in the private equity industry today?

The new EuSEF regulation is vital to protect social investment funds from the excesses of AIFMD, says NESsT’s Eva Varga.

The success of Synova’s sophomore fundraise shows there’s still plenty of LP appetite for smaller cap UK deals.

Setter Capital claims there were $15 billion of secondary deals in the first half of 2013 – more than twice previous estimates. Who’s right?

Everyone’s hopping mad at Big Shop at the moment, courtesy of the news that one of our competitors has just raised a massive new fund in double-quick time.

Bregal Investments is not your standard LP – it looks to take anchor stakes in funds and has been aggressively expanding its direct investment activity across multiple geographies and strategies.

Pitchbook data suggesting that countries are under-served by private equity should be treated with extreme caution.

Limited scale, conflicts of interest and unrealistic LP demands have put many US dollar fund managers off raising RMB funds – but this may be changing.

KKR was able to generate approximately $2 billion in about a fortnight for its European Fund II LPs - highlighting the extent of the vehicle's recovery in the last two years.

ILPA prepares a standardised due diligence questionnaire for vetting fund managers, Nicholas Donato looks at the likely pitfalls.

GPs taking advantage of lax fund expense rules need to get their house in order if they want to preserve strong LP relationships – not to mention avoid SEC scrutiny

Here’s some news that will delight advocates of greater transparency in private equity: the CIA has its own private equity firm!

In these uncertain times, it clearly makes sense to invest in something for which there will be guaranteed sustainable long-term demand. So First Round was intrigued to hear about a Netherlands-based buyout firm that hopes to give new meaning to the expression ‘flushing investors’ money down the toilet’.

Georgia’s employees’ retirement system may finally make its first investment in the asset class before the end of the year.

One of the things First Round admires most in private equity professionals (and indeed other, lesser, mortals) is conviction and constancy – the ability to stick to one’s guns, even in the face of the sternest opposition.

Activity levels in Latin America are still way short of 2011 levels – although the recovery of the mid-market does bode well for a region that seemed to be creaking under the weight of excess capital.

Regulation may be scaring many insurers out of private equity – but the new vehicle of ‘profit with purpose’ investor LeapFrog is proving to be a notable exception.

Switzerland has been unable to avoid the European economic malaise but there are signs it is starting to improve.

India’s private equity market continues to be hampered by exchange rate concerns and structural barriers to portfolio company growth.

Trilantic Partners Europe has been actively targeting southern Europe. Chairman Vittorio Pignatti-Morano explains why.