Coronavirus

Two European LPs have already defaulted on capital calls, and more are rumoured, as LPs get hit with a one-two punch of large, often early capital calls and drying up distributions.

The board approved a $100m commitment to the New Mexico Recovery Fund, managed by private equity firm Sun Mountain Capital.

Although public market volatility doesn't have to weigh heavily on companies' December NAVs, GPs ignore it at their peril.

Heavily invested legacy vintages might suffer more than funds in market, with the jury still out on whether this crisis will be sharp and short like the GFC, or sharp and longer-lasting running through various cycles.

The request comes as recent public market volatility has caused the pension's value to drop over $3bn.

Across the private equity industry, the impacts of the pandemic-spurred economic downturn are being felt in dealmaking, which has slowed or paused fundraising processes while LPs work to understand the status of their portfolios.

The consulting firm has created an interactive diagnostic tool to help private equity-backed companies facing coronavirus-related risks.

Leading figures of the country's private equity industry pay tribute to José Maria Loizaga Viguri, a founding father of Spanish private equity, who passed away after contracting the coronavirus.

We look at just some of the ways private equity firms are helping portfolio companies and wider society as the industry grapples with the coronavirus-led business slowdown.

Market volatility has led to stalled deals, the withdrawal of sellers and the return of MAC clauses.