December 2013 / January 2014 Issue

    Month: December
    Year: 2013

    Back to Print Editions

    Private to Public Leave politics to the politicians

    For private equity's leading lights, picking public fights with politicians is a risky business with relatively little upside

    In spite of returns

    Private equity continues to have a communication problem, according to LPs. But as long as it keeps outperforming other asset classes, GPs can probably get away with it

    Being private matters

    PEI teamed up with Montana Capital Partners to investigate how family offices and foundations approach private equity.  

    First Round Objection your Honour

    Clifford Chance's dubious attempt to help its female staff

    Raising GPs

    Fund managers derive solid benefits from DFI investors, so long as the institutions’ dual motivation is well-understood

    In praise of volatility

    Macro issues have clearly roiled emerging markets – but that might not be a bad thing for private equity.

    Privately Speaking Paul Fletcher Actis

    The Actis boss on why the EM specialist changed tack mid-fundraise

    CSI DD

    How can LPs really know that GPs are walking the walk on value creation?

    A public nuisance

    There are less than a fifth of private-equity backed deals in the UK, compared with six years ago. What went wrong?

    On the Record Jean-Philippe DeSchrevel Bamboo Finance

    Social impact investing requires no compromise on returns, says Jean-Philippe DeSchrevel, chief executive of Bamboo Finance

    Quasi keyman

    Firms that are SEC-registered may need to consider some new regulations as part of their succession planning

    On fees and feuds

    Disagreements between GPs and placement agents are not uncommon—although the recent dispute between Catalyst and Sixpoint went further than most.

    Support systems

    Indian funds are building relationships with the country’s growing domestic LP base

    IR Greater expectations

    LPs think fund managers are not investing sufficiently in their IR function, according to new research

    Mispriced risk

    Debt investors continue to see a mismatch between risk and return in China given difficulties in enforcing contracts

    Nicholas Pye A Christmas cracker

    Pye looks forward to bonus season - and reveals that there's a dissenting voice at Big Shop

    Covenant care

    How does the covenant package of a high-yield bond influence investment returns?

    Russia Beating stagnation

    Russia’s economy has slowed noticeably – but there are still good returns available for investors

    Latin America Beyond Brazilian borders

    With Brazil’s economy apparently declining, investors are seeking opportunities in countries like Colombia, Chile, Peru and Mexico

    MENA A gentle reawakening

    As confidence slowly returns to MENA’s private equity industry, where are firms seeing opportunities?

    Kazakhstan: Central resources

    Kazakhstan’s favourable location and impressive natural resources make it an interesting proposition for private equity

    Tales from the frontier

    Firms are still riding into new frontier markets, despite some misadventures along the way        

    India Home advantage

        Conditions seem ripe for a shift from equity to debt funds in India. But it’s not as straightforward as it might seem.    

    Africa From tugboat to engine

    Private institutional investment is the key to maintaining Africa’s current growth trajectory in the coming years

    Benelux On the Mend

    The gradual recovery in the Benelux economies is finally giving GPs in the region a glimmer of optimism.

    AIFMD roundtable Uncertainty rules

    Four industry experts discuss how the AIFMD is being interpreted, whether some GPs will begin avoiding Europe as a result, and what LPs think about it all.

    First Round Paging Clarence

    Channelling George Bailey to bring to life the magic of PE

    Team Tesla

     Tesla: stealth crime fighter?

    Pressure to converge

     CEE is beginning to look more like a developed European market. In the current climate, that’s not necessarily positive  

    The princeling problem

     Hiring people for connections rather than PE experience is under scrutiny in China – but it’s not a practice confined to Asia

    LGAM A long-term approach

    L-GAM, a recent Bain/ Investcorp spin-out, has created a fund structure that enables it to own companies for longer