Private Equity

Commentary

Friday Letter Turbulent times for listed private equity

<p>There’s trouble brewing in the listed private equity sector. Discounts to net asset value are resolutely failing to narrow, investors are beginning to agitate for change and even the industry’s former poster child in Europe, 3i Group, faces fresh speculation about a takeover or break-up. </p> <p> </p>

3 min read · 29 January 2013

Friday Letter Driving returns the old fashioned way

<p>The outsized returns of years past, boosted through the liberal use of leverage, can still be replicated though it takes a lot more effort.</p> <p> </p>

2 min read · 29 January 2013

Friday Letter Stemming the pension brain drain

<p>Compensation at US public pensions can’t compete with the private sector, but some structural changes could help mitigate the steady stream of leavers and major disruptions to investment programmes.</p> <p> </p>

3 min read · 29 January 2013

Friday Letter Between a rock and a hard place

<p>The balance between lobbying policymakers and spreading the private equity gospel is a tough one to strike.</p> <p> </p>

2 min read · 29 January 2013

Friday Letter Why you shouldn’t write off MENA

<p>If you thought private equity in MENA was headed for extinction, think again. </p> <p> </p>

2 min read · 29 January 2013

Friday Letter Don’t let due diligence falter

<p>The Asian markets remain red hot for private equity, but have exhibited some of the bad behaviours that developed market managers used during the credit bubble years, not least of which is a shrinking of the time devoted to performing due diligence on potential investments. </p>

2 min read · 29 January 2013

Friday Letter Where&#039;s my safe eight

<p><em>The search for yield and publicly listed private equity firms have investors buzzing.</em></p>

3 min read · 29 January 2013

Friday Letter Will the real LP&#039;s please stand up?

<p><em>As the private equity industry continues to suffer from an image problem on both sides of the Atlantic, one influential US investor took us on a tour of a company that has benefitted from its private equity investments.</em></p> <p> </p>

2 min read · 28 January 2013

Friday Letter Obama attacks

<p><em>The industry is in for a rough ride to November now that the US Democratic campaign has fired the opening salvo in its attacks against Mitt Romney’s private equity past. </em></p>

2 min read · 28 January 2013

Friday Letter Selling China’s macro dream alone is not enough

<p><em>Of more than a thousand managers active in China to choose from, one experienced LP estimates there are fewer than a dozen genuinely worthy of a commitment. GPs looking for funding will need to do more to point to China’s growth story. </em></p> <p> </p>

3 min read · 28 January 2013

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