Rod James
Rod James is a reporter with Secondaries Investor and also contributes to sister title PrivateEquityInternational.com. He is based in the London office. Prior to PEI, his roles included a stint as a freelancer covering fintech and transaction banking, CEEMEA capital markets reporter with EMEA Finance magazine, and editor of the Latin American political and economic risk team at IHS Global Insight.
Although public market volatility doesn't have to weigh heavily on companies' December NAVs, GPs ignore it at their peril.
Market volatility has led to stalled deals, the withdrawal of sellers and the return of MAC clauses.
Secondaries transaction volumes exceeded $80bn for the first time, but slower growth in parts of the market has put a check on over-exuberance.
Everyone knows the importance of alignment between the GP and LPs in a fund restructuring. But what about the portfolio company’s management?
The limited partner body’s guidance on GP-led fund restructurings is designed to create an industry standard for the execution of these deals, but how effective has it been in practice?
Growing demands from GPs and investors have seen the market evolve rapidly in recent years.
Charlie Bott joins the firm's global advisory board, having retired from the UK buyout manager in 2018.
Others are aping the firm's strategy of holding minority position for a long time, said head of PE fund investments Benoit Valentin.
The Q4 year-on-year drop from $7m to $1m is due to the run-off of legacy assets and several large fundraisings having yet to come to market, said co-CEO Glenn Youngkin.
The €2bn restructuring of PAI Europe V, centred around one of the world's largest ice cream makers, suggests the secondaries market may be too small.