July / August 2002 Issue

Fund Accession Mezzanine Capital Firm Mezzanine Management Sectoral Focus ?Old economy? companies worth Fund Type Mezzanine between €50-250m Status First closing Amount Raised €76m Geographical Focus Poland, Hungary, Czech Republic, Amount Targeted €150m Slovenia, Slovakia Investors European Bank for Reconstruction and Development Fund Candover 2001 Fund Firm Candover Amount Targeted €2.5bn Fund Type Buyout Investors […]

CDO managers are struggling to keep up with demand from investors, but new product is difficult to assemble, as the markets are slow to supply the quality assets needed to collateralise. Robin Burnett reports.

The United Nations hopes venture capital can foster a powerful - and transformational - small business culture in less developed markets. But do emerging markets have the infrastructure in which private equity can flourish? In the first of two articles, Joseph W. Bartlett asks whether private equity can do for LDCs what it has done for the US economy.

When do private equity and property fit together? A growing number of dedicated European real estate private equity funds are out to prove to investors in Europe that opportunistic property investment fits the private equity model well. Philip Borel takes a look.

Say “CalPERS” to anyone involved in private equity and you'll be sure to get a response. With over $20bn allocated to the asset class it is the biggest limited partner in the world. It's also helping to transform the industry as it promotes greater transparency and dialogue. Private Equity International talked to Rick Hayes, the senior investment officer in charge of its Alternative Investment Management programme to find out how he sees the asset class evolving.

A prevailing sense of unease in the European and US venture capital markets has prompted investors to explore opportunities in the Asia Pacific region. Ricky Morton speaks to some of the region's major private equity investors to gauge the current investment environment and looks at how the region has changed since the 1997 Asian crisis.

US private equity firms have had a difficult time breaking into the “mass-affluent” market. David Snow explains why.

Recent issues by Britax and Sanitec reveal that issuers can secure useful financing terms via high yield structures with non-call components.

How do private equity firms deliver the best returns? And how do you spot those top performers who sit not in the top 25 per cent but the top 10 per cent? The private equity team at McKinsey had a look inside the data and found that there now has to be more to successful selection than once met the eye.

News: People Staff 2002-08-01 Writer RBS promotes Koenig as Föcking heads to EQTRoyal Bank of Scotland (RBS) has promoted Jochen Koenig to succeed Michael Föcking as the head of the bank's leveraged finance team in Germany. Föcking has left to join Nordic private

News: Deals Staff 2002-08-01 Writer Legrand deal hits home straightUS buyout firm Kohlberg Kravis Roberts and French investment vehicle Wendel Investissements have confirmed that they are in exclusive talks to acquire French plug and switch maker Legrand from Schn

News: Funds Staff 2002-08-01 Writer GSC closes Europe's largest mezzanine fundGSC Partners, the independent private capital investor, has held a final closing for GSC European Mezzanine Fund LP. At €1.065bn, it is the largest dedicated mezzanine fund raised in Eur

News: Buyside Staff 2002-08-01 Writer Adveq closes at €300mAdveq Group, the Swiss-based fund of funds investor has announced the final closing of its latest fund, PETP III, which has raised $302m for investment in US high tech funds. The final figure is some way s

As far as private equity managers are concerned, real estate investment seems an altogether different kettle of fish to mainstream private equity deal-making – low-yielding, slow moving, hard to fathom and generally not worth losing much sleep over. Isn't it? Actually no. Opportunistic real estate investment, a concept pioneered just over a decade ago in […]