July/August 2018 issue

    Month: July
    Year: 2018

    Back to Print Editions

    Privately Speaking: CalSTRS’ Ailman on staying relevant in a world awash with capital

    How does CalSTRS stay relevant in a world awash with LP capital? Chief investment officer Christopher Ailman on the pension’s unique challenges and culture.

    German market is full of potential – roundtable

    Recent mega-deals have electrified the German private equity market, but what’s next? Our panel of experts share their thoughts on what’s in store.

    LP of the future: much more transparency

    Communication between LP and GP will improve and become much more granular.

    LP of the future: investors could push for blockchain tech

    Distributed ledgers can track where money moves, giving GPs and LPs better oversight on how their capital is being deployed.

    LP of the future: the end of tail-ends

    Built-in liquidity solutions or asset rollovers will take care of ageing funds.

    LP of the future: taking more control

    Investors will increasing eschew commingled funds for direct or co-investments.

    LP of the future: relationships with GPs will change

    LPs' drive to cut the number of managers they use may create a split between blue-chip multi-strategy asset managers and smaller specialist GPs.

    LP of the future: the transformations ahead

    Sophisticated limited partners will be ratcheting up the home improvements in a bid to generate the best returns.

    LP of the future: performance will be relative

    Investors are less likely to focus on absolute returns, preferring to judge the asset class relative to others

    LP of the future: moving towards shadow capital

    Customisable fund models, particularly separately managed accounts, are becoming more popular.

    LP of the future: a more fluid approach to structure

    Investment portfolios will be less segmented.

    LP of the future: tying pay to performance

    Staying competitive on remuneration will take some creative thinking.

    States continue the fight on carried interest tax

    The battle over carried interest tax at state-level rests on whether it is seen as a reward for labour or for risk.

    New deal, new opportunity set

    With the advent of the fundless GP-led deal, traditional GP-led restructurings are so 2017.

    A key-man conundrum

    KKR’s poaching of CLSA’s head of real estate has implications for private fund managers of all asset classes.

    Combating discrimination

    Basic steps can help prevent harassment and the damage it does to women’s careers. It’s time firms in real estate and other asset classes took them.

    Oz on the move: 7 key trends

    A new crop of ‘hungry GPs’ is increasing the spotlight on the Australian private equity market.

    Australia LP focus: going local

    Sam Sicilia, chief investment officer of Hostplus, talks about its venture capital portfolio and supporting local innovation.

    Pacific Equity Partners on why the Australian mid-market is thriving

    Australia combines both access to Asian growth markets and the stability of a US-style regulatory system, says David Brown of Sydney-based buyout firm Pacific Equity Partners.

    Trouble in paradise

    Abraaj began life in Dubai, but its fate appears to have been sealed in a Cayman Islands court.

    Lubricating energy secondaries

    A rebound in oil pricing is helping to narrow buyers’ and sellers’ expectations.

    Energy storage: It’s all in the service agreement

    Despite a clear need and high growth potential, investors have not backed the energy storage sector in large numbers, partly due to a lack of standardised contracts, finds Jordan Stutts.

    LP shift to direct investing puts pressure on talent supply

    A majority of LPs find recruitment and internal resource constraints to be significant barriers to improving PE returns, according to Coller Capital's latest survey.

    Foresight on how to maximise renewables returns

    With clean energy now an established asset class, we asked Foresight partner Dan Wells how to minimise risk.

    Agri’s crossover appeal

    Mark Fischer of Australia’s Qualitas says institutions are increasingly keen on investments spanning ag, real estate and infrastructure.

    Ben Gray, the man in charge of Australia’s largest first-time fund

    Market participants expect the ex-TPG head of Asia and co-founder of BGH Capital to shake up Australia’s private equity scene.

    Three things to know about Japan Post Bank’s $78bn alternatives investment target

    The $1.9trn Japanese investor is expanding its exposure to alternatives investments, including direct lending funds and real estate debt funds.

    Performance room: energy powers down

    Bankruptcies soared in the wake of falling oil prices, forcing energy funds to adapt to the new realities.

    Energy: A tamed recovery

    Although the energy market has come back from the recent downturn in commodity prices, the floodgates for fundraising and dealmaking have not fully reopened.