October 2014 Issue

    Month: October
    Year: 2014

    Back to Print Editions

    Shifting sands

    On both sides of the Atlantic, public policy issues are moving rapidly up the agenda for private equity firms, writes Claire Coe Smith.

    Measuring volatility

    ‘De-smoothing’ corrections give a truer picture of private equity volatility — and ultimately help LPs to make better allocation decisions, writes Griffith Norville.

    Investor Base: Close to the hedge

    Two big pensions are selling out of hedge funds — which could be bad news for private equity

    Study: M&A volumes up 62%

    The uptick in M&A was driven particularly by some huge deals in North America’s booming tech market

    LP Radar: Hey big spender

    The row over conflicts, performance and fees at North Carolina’s pension system highlights the challenges facing these institutions as scrutiny mounts

    A tasty proposition

    With its investment in Northeastern cookie-maker Tate’s, Riverside hopes to demonstrate how private equity can help to develop mid-market champions

    First Round: Garlic (makes) bread

    As far as First Round is concerned, one of the best things about being a private equity hack is learning more about the cornucopia of weird and wonderful companies that exist throughout the world, courtesy of their decision to take private equity investment.

    Buying social

    The well-supported G8 impact investing taskforce has recommended a review of the fiduciary duty rules. Private equity firms should take note

    First Round: Worth a tri

    This September, over 300 of UK’s private equity’s finest gathered at Eton College’s Dorney Lake (home of the rowing events at the London 2012 Olympics) for the inaugural FT Triathlon, with the aim of raising pots of cash for industry charity Impetus-The Private Equity Foundation.

    A new Quest

    After splitting from its parent, Probitas Partners’ former European team is targeting the region’s mid-market with a new name above the door

    First Round: Money money Monet

    When it comes to art, First Round doesn’t know much, but it knows what it... No wait, that’s not right. When it comes to art, First Round doesn’t know anything. What’s more, this is private equity: an industry where modelling trumps Modigliani, EBITDA trumps Dali, and carry trumps Caravaggio.

    Nicholas Pye, Buyout Guy: Gold dust

    Two bits of good news for our hero, as the Canadians come back and his espionage pays off

    Sherborne missile

    The phoney war between Edward Bramson and Electra Private Equity has finally seen its first skirmish

    Asia roundtable: A new dawn

    In Asia, the industry is waking up to the fact that strategies which have worked in the past may no longer be a feasible way to generate returns in the region

    Privately Speaking: Coller Capital's Jeremy Coller

    Two decades ago, Jeremy Coller’s entrepreneurial drive helped to create one of the world’s biggest secondaries platforms. Today, Coller Capital is a bigger, more institutional firm but there are still signs of that stubborn unwillingness to follow the crowd 

    Emerging markets: niche value

    LeapFrog and OrbiMed both closed oversubscribed funds this summer. Both argue that in emerging markets, niche strategies can actually be a comfort to LPs

    PIPE-ing hot

    Although fundraising in Asia has rebounded, some believe flexible strategies are the key to success in the region’s trickier markets

    RDIF: mission impossible?

    Russia’s state-backed fund has had some notable success — but the current climate is making its task much more difficult

    Russia: Window slams shut

    The political row over Ukraine is overshadowing the progress Russia has made in developing its domestic private equity market

    Switzerland: A mountain to climb?

    High valuations, subdued deal flow and an increased regulatory burden mean it is not all plain sailing for GPs operating in the country