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From the archive: UPS on sizing up managers

In the fall, PEI caught up with UPS' private equity portfolio manager to discuss active portfolio management, direct investing and subscription lines of credit.

Trends of the Year: The rise of cov-lite loans

This year we asked whether private equity investors should be worried about the continued loosening of debt covenants.

CalPERS pays more in fees, less in carry

The US’s largest public pension decreased its overall expense costs by $170m during the fiscal year ended 30 June, up from $67m of savings last year.

Perspectives 2018: Paying the price

Fees and expenses remain a top concern for LPs for whom carry distribution is also a worry, writes David Turner.

Emerging markets special: new fund structures required

These markets force managers to be creative around the standard structure.

LPs face ‘huge risks’ on co-investments

Limited partners should question whether co-investments are within a manager's sweet spot, investors at PEI's Women in Private Equity conference said.

Hurdle rates in emerging markets should end in tiers

The industry standard creates misalignment problems and needs rethinking for growth investors, says fund investor Dave Richards.

Vanilla or chocolate: doing the maths on fund fees

A higher carried interest ensures a better alignment between a GP and its LPs even if LPs end up paying more in fees.

Fund restructuring: a source of friction

The fact that Apax Partners shelved plans for its GP-led secondaries process shows that LPs' desire a genuine 'do nothing' option.

Why Blackstone is moving toward permanent capital

The firm’s COO, Tony James, sees the traditional 10-year private equity fund as ‘a bit of a treadmill’.