Matthew Goodburn
A reduction in multiples “may not be a terrible thing” as multiples have been rising slowly over the past few years, says Bain & Company partner Nirad Jain.
As it closes its oversubscribed third co-investment fund on $1.5 billion, Neuberger Berman's head of European private equity, Joana Rocha Scaff, tells Private Equity International why the number of GPs looking to partner with just one, large LP is on the rise and club deals are in decline.
Many investors in the Abingworth Clinical Co-Development Fund were family offices and funds of funds.
People are prepared to pay extremely high prices for the next ‘wonder product’ in areas like immuno-oncology products, Permira's Mubasher Sheikh tells Private Healthcare Investor.
Leslie was also involved in last October’s £2.3 billion ($3.4 million; €3.1 million) sale of generic drugmaker AMCo to Concordia.
.jpg "Advent International sells Priory Group for $2.2bn")
The firm bought the behavourial health specialist from RBS in 2011 for around £925m.
.jpg "PEI fund statistics reveal increasing appetite for Europe")
PEI data reveals rising interest in Europe although total global fundraising has fallen over the past year.
.jpg "Bridges hires third partner for US team")
Miller will focus on the operational side for the firm in the US.
The hire will bolster the $1 billion partnership, which has so far made one investment in Africa since its formation in June.
Smaller LPs often lack the expertise to be successful at co-investing and are losing out to larger peers on fees and terms as part of a ‘permanent shift’ in GP/LP relations, a recent survey by Coller Capital finds.