December 2016 / January 2017 Issue

Thoma Bravo just closed Fund XII on $7.6bn, twice the size of its predecessor. Managing partner Orlando Bravo talks about how the firm evolved from a generalist private equity shop to a software specialist, and his own role in that transformation.

Ping pong brings private equity people together for a good cause.

Private equity doesn't need fantasy football - it can invest in the real thing.

The country’s sovereign wealth fund is confronting the low-yield environment by financing tech start-ups.

The departure of the Securities and Exchange Commission’s chairwoman and an anti-red tape Congress mean president-elect Trump could find it easy to reform regulation.

Firms have evolved from private equity shops to large multi alternative asset managers, so KKR’s Bill Janetschek reflects on how the chief financial officer’s job has changed.

Private equity and venture capital lawyer Shawn Atkinson of Orrick explains why the UK’s capital will remain a global financial centre, even after the country exits the EU.

Secondaries firm Coller Capital backed Irving Place Capital to add five years to its third fund and offer an attractive package to LPs.

Pomona chief executive Michael Granoff talks about US politics, retail investors and the importance of being an intense listener.

Enthusiasm for emerging markets has dropped, but they still have plenty of potential.

Halfway between private equity and senior debt, mezzanine finance could be the answer to a funding gap in Africa’s mid-market.

As the political and economic landscape recovers, investors are beginning to set their sights on the country again.

Activity has been slim in Russia since economic sanctions were imposed in 2014, but the staff at the government’s direct fund says that is about to change, writes Isobel Markham.

Healthcare is a non-cyclical play across the region. But how do GPs guarantee returns?

What does China’s latest five-year plan mean for private equity?

Indonesia's middle class is ready to emerge, but many businesses are still held in family hands.

AlpInvest Partners’ chief economist Peter Cornelius explains why Asian developing markets are poised to benefit from a rise in fundraising.

The Overseas Private Investment Corporation’s Brooks Preston, vice-president, investment funds, explains how it seeks to encourage entrants into emerging markets.

As the firm celebrates its 20th anniversary, Ardian’s Benoît Verbrugghe talks about why keeping it simple makes the firm successful.

The fundamentals are in place in Central and Eastern Europe, but LPs seem unwilling to harness the region’s growth.

Steep valuations in the mid-market are hitting deal and exit activity.

A lack of exits is slowing down fundraising, and firms in the space have to think carefully about how – and whether – to market in Europe.

Placement agents can no longer get by with just introducing managers to sought-after LPs, according to Rede Partners’ Adam Turtle and Scott Church.

The former chief executive of Baird Capital Europe left the firm in 2012 after 10 years to join executive search firm Odgers Berndtson.

Despite a tumultuous year, investors are still fully committed to private equity.

This has been a year of volatility and uncertainty for the European private equity market, and it doesn’t look as though 2017 will be any smoother.

From currency instability to GP discipline, investors divulge the issues that really make them fret in our end-of-year questionnaire for leading LPs.

 After a year in which volatility has roiled almost every market across the globe, European LPs have their eyes on a global economic slowdown.

North American LPs remain committed to private equity, despite a downbeat assessment of the likely returns over the next 12 months.

As emerging markets economies continue to rebalance towards consumption and services, LPs are keeping steady and cautious  

Innovation and Asian consumption trends remain key growth drivers of QIC’s PE portfolio, says head of global private equity Marcus Simpson.

Teacher Retirement System of Texas, which generates some of the best private equity portfolio returns among US public pension funds, won’t invest if it thinks GPs are being greedy.

After an initially lukewarm reception, there are signs that LPs could start reaping the rewards of the new ILPA fee template in 2017.

The rise in protectionism is a concern for long-term investors, says Erik-Jan Vink, head of private equity at €200 billion Dutch pension fund manager PGGM.  

Secondaries players need not take a pause for breath just yet: LP activity in the space is set to increase.  

In their ability to successfully negotiate LPA terms, LPs split into those that can make changes and those that must accept what they are given.

Family offices are turning to private equity to boost returns.

Angola’s sovereign wealth fund allocates nearly 60% of its capital to private equity. José Filomeno dos Santos, chairman of the board of directors of Fundo Soberano de Angola, explains how this is helping the economy to diversify into new areas.

 In today’s tough deal-making environment, Cinven’s well-honed portfolio team helps the firm extract maximum value for investors in a sustainable, repeatable way.  

Going into 2017, disclosure around fees and expenses is top of mind for limited partners, say Debevoise & Plimpton partners Sally Gibson and Geoffrey Kittredge.

The dry powder available to the private equity industry is running at record levels, but chief executive Mounir Guen is unworried by the build-up of unspent capital.

With interest in German companies and investors on the rise, Michael Best and Peter Peschke examine key tax considerations for foreign and domestic fund managers.

RSM US chief economist Joe Brusuelas describes the economic landscape following the UK’s vote to leave the European Union.