March 2019 issue

    CalSTRS may face uphill climb in directs build-out

    The Californian pension will consider hiring an additional 12 direct investment professionals at a time when public institutions are finding it hard to draw top talent.

    Growth investing takes off in 2019

    In the later stages of the investment cycle, growth equity investing has an important role to play in investors’ portfolios.

    PE will start adopting VC’s fund terms

    More venture capital-like fund terms could be bad news for limited partners.

    The carried interest model could be improved. Here’s why it won’t be

    Making LPAs more akin to contracts between fund managers and their portfolio company execs would lead to better GP-LP alignment.

    Funds of funds become data analysis machines

    Fund of funds managers can digest data more easily than LPs and GPs – and have access to plenty.

    Story of the year: Abraaj’s downfall and what it means for PE governance

    The firm's swift fall from grace this year provides a compelling reason for LPs to conduct thorough scrutiny of governance practices.

    Funds of funds: Extending the in-house team

    Fund of funds managers are leveraging their GP relationships and resources to operate as an outsourced co-investment consultant.

    Funds of funds: Opening up the defined contribution world

    Funds of funds have a key role to play in opening up private markets to defined contribution pension plans.

    Funds of funds: Thinking small to gain big

    Funds of funds managers are pushing deeper into hard-to-access markets and backing generational change to generate alpha.

    CPPIB: the smartest, nicest guys in the room

    Canada Pension Plan Investment Board's secondaries team is giving traditional firms a run for their money. The secret to its success is more than simply having a lower cost of capital.

    Funds of funds: Connecting LPs with fundless sponsors

    Fundless sponsors are winning fans in the fund of funds world, but performance remains front of mind.

    Park Hill on the swift evolution of the GP-led secondaries market

    This part of the secondaries market is growing and changing at a rapid clip. Jon Costello, head of the Secondary Advisory Group at PJT Partners, explains the impact on the broader private equity industry.

    Avoiding conflicts in stapled deals

    Full disclosure and fairness opinions are the best ways to mitigate potential conflicts of interest in stapled deals.

    Concentrated bets

    Single-asset restructurings have exploded in popularity over the past 12 months, but are not to everyone’s taste.

    Landmark: the critical aspects of a fund restructuring

    GP-led deals are on the rise. How does this growth compare with historical levels, and what do these liquidity solutions look like from a secondaries investor’s standpoint? Landmark Partners’ Jamie Sunday and Ian Charles explain