April 2002 Issue

Few private equity investors have up to now paid much attention to the energy sector – and the oil and gas industries in particular. Why is this asks Philip Borel and are they missing something?

Landing a job in private equity or VC has become much more competitive and keeping your good people is also now far more of a challenge. Adam Zoia looks at the methodologies being used for both.

Placement agent directory Staff 2002-04-01 Writer Acanthus AdvisorsOffice LocationsLondonGeographic coverageEur

Nigel McConnell runs Electra Partners Europe, the firm created by its own MBO and which went on to close a first time fund of €1bn in 2001. He talks to Private Equity International about a business that had to grow up quickly and which now, he says, specialises in doing “some very basic stuff” to its portfolio companies.

Placement agents are becoming an increasingly critical factor in the fund raising process. David Hawkins finds out who does what, when and why.

The European mezzanine market may still be synonymous to some with a handful of founding players but Robin Burnett reveals that it has grown much further and faster than some niche form of financing.

The consolidation of the industry gathered pace last year. A number of funds downsized or withdrew from the market; while the second half of last year witnessed one of its worst fund raising records with only US$1.3 billion being raised.

The US market remains abuzz with talk of the litigation launched by aggrieved LPs against their GPs. Joe Bartlett takes a lawyer's look at where this has come from and wonders where it may go.

Deferred consideration means that deal terms can often be worse for the vendor than might first appear.

Dominique Peninon is managing partner at fund of funds manager Access Capital Partners as well as being former chairman of the investor relations committee at EVCA. Given the distinctive nature of these roles, Asset Class talked to him about what LPs can and should expect from GPs.

News: People Staff 2002-04-01 Writer Second age of Mann for MerrillMerrill Lynch has re-hired its former head of global high yield, Jack Mann, who is currently managing director at Carlyle Group's collateralised debt obligation, as global head of leveraged finance

News: Deals Staff 2002-04-01 Writer Nomura exits pub chainsNomura International has announced that it has sold its Voyager and Unique pub chains (Newco) to a consortium led by Cinven in a £2.013bn transaction. The pub estate acquired consists of 4,189 pubs and is

News: Buyside Staff 2002-04-01 Writer European Private Equity Funds Formed 1980 - 1999 Net Returns to Investors From Inception to 31 - Dec - 2001Size (Mill euro)NumberAverage

News: Funds Staff 2002-04-01 Writer UK buyout market recoversThe value of buyouts deals for the first quarter of 2002 is up nearly £2bn on the final quarter for 2001, according to figures published by the Centre for Management Buyout Research (CMBOR). The total de

Placement agents occupy a unique position within the private equity community, as few other individuals ? and these firms are very much made up of individuals ? spend so much time talking to both LPs and GPs. And this creates the interesting situation of having two clients in any one project: both the fund manager […]