March 2015 Issue

    Going beyond private equity

    Are you thinking of building a multi-strategy investment platform, or doing it already? Erica Berthou and Peter Gibbs highlight eight essential things to consider

    Investor Base: Closing in on 8%

    As part of a drive to raise its private equity allocation, Ohio Police & Fire is putting money into Rhône V

    A well-timed purchase

    Centerbridge Partners has spent €1bn on Senvion, a turbine manufacturer, just as the wind market bounces back and changes in O&M contracts are increasing margins for manufacturers

    LP Radar: Wiseman's move

    CPPIB has re-organised internally and plans to refocus the portfolio externally to better capture investment opportunities at home and overseas

    Barney Frank: Don't roll back

    In January, the former Congressman from Massachusetts spoke to delegates at the PEI CFOs & COOs Forum in New York about lessons learned and dangers lurking. His message to those wanting to repeal Dodd-Frank? ‘Careful what you wish for’

    Pleasure and pain: CVC, Carlyle and the AIFMD

    Our pick of memorable moments of the month just gone

    Falling out of favour?

    With the private equity market maturing, funds of funds are having to adapt their business models in order to continue to be able to raise capital. Are they succeeding, or is their raison d’être becoming increasingly uncertain?

    Data Room: Bumper crop

    Exit levels reached record highs for private equity last year as managers took full advantage of all exit routes

    Oil prices create rare buying opportunity

    Many private equity investors in US mid- and upstream operators are unfazed by the oil price slide

    Privately Speaking: Bain Capital

    Bain Capital is a well-established global brand. But since it moved East in 2006, its Asia operations have taken on a life of their own, with some of the most noteworthy deals in the region completed. Three of the firm’s Asia MDs talk about Bain Asia — past, present and future

    Bookies and mobsters

    Yucaipa Companies is using unusual tactics in legal proceedings against two credit investors

    Terra Firma: Mixing it up

    Terra Firma says it has €1 billion of capital to invest, to deploy in deals or in a fund structure. When the Guy Hands-led firm will raise another co-mingled fund has not been decided

    Electra implements dividend policy

    Electra Private Equity is implementing several changes to its financial affairs, including a dividend policy. A welcome development, or change for change’s sake?

    China: Regulatory roadblocks

    China’s latest draft rules for foreign investors could create more regulatory roadblocks for private equity firms

    First Round: Chess mates

    J. Christopher Flowers has just signed up with the Kasparov Chess Foundation

    First Round: Complex finish

    First Round contemplates taking part in the private equity-backed IPO of French vineyard Domaine Chanzy