Alignment of Interest

LPs appear to want to appoint a new manager to keep the portfolio running because the investments have performed well so far.

Increasingly litigious interactions and overt hostility at Novalpina has increased the appeal of a possible third-party replacement, PEI understands.

The average GP commitment as a percentage of the fund was 4.8%, a more than 60% rise from two years ago, according to the latest GP Trends report.

Neil Harper, former CIO of Morgan Stanley AIP Private Markets and chairman of Zamo Capital, and partner Patrick Scheurle outline three ways PE firms can foster true partnerships.

The number of funds coming to market openly offering discounts for early bird commitments or big ticket sizes is dropping, according to research seen exclusively by Private Equity International.

Todd Boudreau argues that ILPA’s model LPAs can give emerging managers an edge in a highly competitive market, helping to attract new relationships and reduce the costs and complexities of negotiation.

The organisation hopes to spark debate with its new deal-by-deal model LPA, which incorporates recent changes to its whole-of-fund model LPA. Sister title Private Funds CFO spoke with some of the people who developed it ahead of the LPA’s release.

Compensation in PE is increasing across the board, especially in junior positions, according to two extensive research reports.

The group did the same for Tata Capital Growth Fund II, which is expected to hold a final close below target in H1 2020.

Recent data from Paul Weiss show the average headline fee rate has dipped below 2%.