February 2018 Issue

    Month: February
    Year: 2018

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    Private equity and power

    He came to power promising to 'drain the swamp'. As Trump gives his first official State of the Union address, we look at the private equity professionals the president invited into his circle.

    Privately Speaking: What Ilmarinen learned from the financial crisis

    The Finnish pension's Katja Salovaara reflects on the last downturn and how firms should prepare for the next big shock.

    No turning back on regulation

    The regulation prompted by the global financial crisis could be on the chopping block. What does that mean for an industry that has laboured to accommodate increased oversight.

    The law of unintended consequences

    The tax reform bill passed at the end of 2017 leaves private fund managers wondering what will befall them, but for now, there are short-term issues to deal with.

    Hall of Fame #2: Nordic Capital V

    The second Hall of Famer is the 2003-vintage fifth fund from Scandinavian private equity firm Nordic Capital.

    Hall of Fame #3: Advent International GPE V

    The third Hall of Famer is the 2005-vintage fifth fund from Boston-headquartered firm Advent International.

    Pure Gym’s survival of the fittest

    When CCMP planned to snap low-cost gym chains after the financial crisis, it hit a snag. But it changed focus and built a bigger business

    Fundraising: not as easy as it looks

    Lyceum’s decision to raise capital deal-by-deal shows bumper headline figures do not tell the whole story.

    Warburg Pincus: fighting the mega-fund trend

    The firm is expanding its business by doubling down on some of its sectors of expertise.

    Perry Golkin is turning PE on its head

    The KKR alum, who spent a quarter of a century at the firm, is breaking with the traditional private equity model with his latest fund, and aiming for better GP/LP alignment.

    Betting big on ‘healthy China’

    Deregulation, industry consolidation and population pressure are driving capital into the country’s healthcare sector.

    An emerging opportunity

    Recent GP-led deals involving emerging markets show buyers are taking these regions more seriously.

    A new direction for Harvard

    The Harvard Management Company is changing its investment model, but it’s still unclear when it will pay off.

    Decoding the CalPERS request for information

    After rumours the US’s largest public pension fund was planning to outsource its private equity business, CalPERS has launched a search for potential partners. Here’s what we know so far.

    Privatising the lower mid-market

    The stars of the smaller end of the buyout spectrum may one day have no need for external investors.

    Secondaries fundraising hit record high in 2017

    Private equity and real estate secondaries funds raised more than a combined $38bn last year, driven by Strategic Partners and Goldman Sachs Asset Management vehicles.

    Our ‘mentor’: Bill Bain’s legacy

    The Tennessee native and Bain Capital founder is remembered by the private equity industry for his influence and inspiration.

    Responsible investment: 7 key trends

    The issues driving the ESG agenda at private equity firms.

    Responsible investment: Against the odds

    Adoption of ESG practices was bolstered by the global financial crisis. Where does that leave us?

    Responsible investment: CalPERS zeroes in on transparency

    The pension is focusing on fees and profit reporting as a major part of its ESG strategic plan.

    Responsible investment: Barking up a new tree

    Addressing social issues can yield value creation opportunities, says Blue Wolf Capital founder and managing partner Adam Blumenthal

    LPs turn up the heat on GPs over climate change

    Limited partners are increasing the pressure on fund managers to disclose more about the risks portfolio companies face from climate change, the PEI Responsible Investment Forum heard on Wednesday.

    Responsible investment: The 7 challenges portfolio companies face

    ESG experts reveal the issues GPs grapple with while implementing responsible investing standards across their portfolios.

    Responsible investment: Distinctions in the taxonomy of sustainable, impact and ESG investing

    What does it mean to invest with purpose? Doing good takes all shapes and forms but ESG integration is critical, says Craig Cogut, founder and chairman of Pegasus Capital Advisors

    Responsible investment: Taking responsibility

    Private equity firms are set for a rude awakening if they ignore climate change, says Sophie Flak, the head of corporate social responsibility at Eurazeo.

    Responsible investment: Fund selection in impact investment

    Due diligence requires a fundamentally different approach when you are seeking to generate 
a social and environmental impact alongside a financial return, says Julia Balandina Jaquier

    7 ESG insights from the Responsible Investing Forum

    LPs are going to ask more of their managers when it comes to data gathering and reporting, the PEI Responsible Investment Forum in Berlin heard.

    Responsible investment: For good measure

    It is important to focus on the material ESG factors but disclosures must also be appropriate to maximise value, says sustainability consultant ERM.

    Responsible investment: ESG is in Africa’s DNA

    Development finance institutions have played a crucial role in ensuring that private equity in Africa has some of the world’s most rigorous ESG standards, says Runa Alam, co-founder of DPI.

    Responsible investment: A more sophisticated approach

    The UN-supported PRI is having a ‘transformative’ effect on the private equity industry, says managing director Fiona Reynolds.

    Responsible investment: Cybersecurity rises up ESG agenda

    As the reach of hackers extends, GPs are increasingly viewing strong cybersecurity as a critical pillar of responsible investing.

    Responsible investment: Why SDGs are a game changer

    The Sustainable Development Goals developed by the United Nations have gained a significant level of traction, with LPs increasingly using them as investment themes, says Shami Nissan, Actis’s head of responsible investment.