James Taylor
The AMF is reportedly investigating possible instances where hedge funds have colluded with private equity funds to force listed companies into buyouts, as the industry continues to come under greater political scrutiny across Europe.
European investment group AXA Private Equity has closed a $2.9 billion global secondaries fund. The fund is almost three times bigger than its previous offering, and will look to complete up to 18 deals over the next three years.
The bumper results of three listed private equity vehicles suggest that the public markets remain positive about the asset class, although ICG chairman John Manser believes the coming year will see a downturn in performance.
UK prime minister-in-waiting Gordon Brown has told a conference of the GMB, a trade union that has been private equity’s most vociferous opponent in the UK, that a review of the industry’s tax treatment will be published ‘soon’.
A trade union-sponsored study has slammed the evidence cited in support of private equity’s record on job creation, one of the industry’s most commonly-used defences against accusations of asset-stripping. However, the BVCA has hit back at the claims.
Russia Partners, a subsidiary of US firm Siguler Guff, has sold its stake in MTV Russia to local media group Prof-Media. The firm launched the channel nearly ten years ago under licence from MTV, and built an influential market share.
Fund of funds manager Adveq is opening its first office outside Europe. The Swiss firm has hired two US private equity investment veterans to lead a new office in New York, as it looks to strengthen relationships with US fund managers.
Royal Bank of Scotland’s private equity arm has put Southern Water up for sale with a price tag of about £4 billion. The UK utility is likely to attract a number of potential suitors.
New research from Coller Capital shows that private equity investors are still keen to increase their allocations to the asset class, on the back of record returns. But with more money pouring into the asset class, concerns are growing that these returns may start to drop. PEO asked chief executive Jeremy Coller how LPs can avoid the pitfalls.
Investors in private equity continue to boost their allocations, buoyed by record returns – but many fear the wall of money flowing into the asset class may have a detrimental effect.