June 2015 Issue

    India Round Table: Waiting For Take Off

    One year into Narendra Modi’s term in office, the market euphoria that greeted his election has dissipated. Public markets initially surged, but fervour has been dampened somewhat as corporate earnings have disappointed and the realisation has sunk in that reforms will take longer than many expected. For local private equity players, the mood is one of cautious optimism that the pro-business reforms will eventually kick-start the investment cycle once again. PEI sat down with four PE experts to gauge the mood, and to try to determine when the political and macroeconomic backdrop would swing back in their favour

    Pleasure and Pain

    Our pick of memorable moments of the month just gone

    Investor Base: Looking Inward

    CRPTF is taking aim at middle market Connecticut-based businesses with its new private capital program initiative

    Deal Mechanic: Haute Returns

    In the aftermath of the Lehman collapse Permira’s investment in Hugo Boss looked set to become the archetypal pre-crisis white elephant. Through a combination of sensible debt restructuring and nerves of steel the European buyout house turned it into one of  its biggest wins yet.

    Analysis: Deloitte study points to more club deals, add-ons and further specialisation

    Larger deals, club deals, add-ons and greater specialisation are high on the agenda for the buyout community this year

    Analysis: Bridging the Gap

    With the Springboard deal confirmed, Bridges’ US based partner John Rogers is optimistic that impact investing is being taken more seriously and that other US deals are now close

    Analysis: Planting the Seeds for Growth

    For investors, agri-business in Sub-Saharan Africa is a sought-after strategy at present. But patience and a focus on social impact are essential ingredients

    Sector Focus: Europe, Rising?

    In the past, venture capital investing in Europe has often disappointed. But now  a new wave of enthusiasm is rolling across the continent, and this time round things could be different according to four London-based VCs

    LP Radar: Core Strength

    OPERF looks to reinforce its large buyout brawn

    Data Room: Understanding What's Market

    A study of PE buyouts of US mid market public firms reveals the target’s mean break- up fees have risen, according to law firm Schulte Roth & Zabel

    Biomass: the Gift that Keeps on Giving

    Growing demand for wood pellets is shaking up alternative asset strategies, especially in the US

    Privately Speaking: Better in Time

    Still reeling from the very public failure of Better Capital portfolio company City Link, self-styled private equity maverick Jon Moulton reflects on the past year and the tough environment for turnaround investing

    First Round: Future Proofing

    The latest charity initiative from the Impetus Private Equity Foundation deserves our attention

    First Round: Parents and Partners

    A group of female US lawyers beat the industry work-life balance benchmark

    First Round: Phantom Filings

    Avon is vexed by the bidder that wasn't

    On the Record: Time for a Tax Profile Indicator?

    Senior PwC tax specialists Vanessa Broeders and Femke van der Zeijden argue that private equity firms need to find a new metric to account for their tax profiles

    Legal Matters: Addressing New LLP Rules

    Lawyers at King & Wood Mallesons argue that many private equity firms have overlooked important recent changes affecting the legal rights of employees of LLPs

    Editor's Letter: The Power of Good

    A round up of the best of this month's magazine

    France: Too Big to Ignore

    The French buyout market has been suffering in recent years, but GPs in the region believe sentiment is changing and better times are ahead.