July / August 2006 Issue

Christoph Kaserer heads the Department of International Capital Markets of TUM Business School and the Center for Entrepreneurial and Financial Studies (CEFS) at Munich University of Technology, where he focuses on private equity and asset management. We asked him about the future of private equity in Germany. Here are his answers.

MANAGER PROFILE 2006-08-01 Staff Writer SNAPSHOT: At the time of its launch in 1999, Silver Lake Partners laid claim to being the first buyout firm focused on making large-scale investments in technology companies. By leading consortia containing co-investors such as T

LP PROFILE 2006-08-01 Staff Writer Head officeTel: +49 89 3800 19900Giselastrasse 4Fax: +49 89 3800 1943680802www.apep.comGermanyemail: munich@apep.comASSETS / FUNDS UNDER MANAGEMENT€5 billionASSETS/FUNDS UNDER MANAGEMENT1996APPROX. NUMBER OF FUNDS IN

Public markets provide liquidity for private equity firms, while at the same time benefiting from the post-IPO out-performance of well-managed private equity backed companies. This synergy is vital to the UK's corporate health, argues Peter Linthwaite of the British Venture Capital Association.

More public and private pension schemes in Europe are investing in private equity, but allocations are only a fraction of what US plans assign and many allocate nothing at all. Joanna Hickey explores whether this will change.

Private equity firms have had no shortage of exit options over the last few years, with refinancing opportunities being exploited by European GPs in particular. While 2006 has continued the trend so far, worries about future prospects are beginning to emerge. Andy Thomson reports.

2006 is shaping up to be a strong year for the healthcare and life sciences sectors, with increased IPO activity in Europe and a flourishing environment for biotechnology around the world. But for private equity firms, guiding companies to exit remains tricky. Dave Keating reports.

SAP founder Hasso Plattner has a venture capital fuelled vision for Germany.

A year ago private equity in Germany was under attack. Today, the industry's prospects in the country look bright. What's changed, asks Philip Borel.

Communicators speak up 2006-08-01 Staff Writer In May and June of this year, Private Equity International surveyed a group of professionals in the private equity industry with responsibility for investor relations, marketing and communications (many of these professionals are in

As private equity fund sizes continue to skyrocket, so meeting the demands of the investor base becomes a Herculean task. The ability to meet that challenge has less to do with the headcount of an IR team than with its influence over the rest of the organisation. Andy Thomson reports.

In June, five seasoned media and communications investors gathered in Midtown Manhattan for an on-the-record discussion about opportunities in this rapidly changing market. David Snow reports on a lively exchange of views between these partners and rivals.

To combat the lucrative lure of the private sector, some universities are changing the way they pay their technology transfer officers. Will the old pay schemes of academia be trampled in the dust? By David Rapp.

For private equity-backed companies based in the emerging markets, exits via cross-border M&A are gaining momentum.

A former Korean government official seemed to have a strong tailwind behind him when launching a new private equity fund last year. Amid criminal investigations, his plans are now on hold.

The delay of a landmark deal in China is likely to spell bad news for the country's private equity market, whether or not the procrastination is inspired by anti-foreigner feeling.

A group of senior private equity professionals has been tasked with educating the EU about current impediments to their industry's growth.

…the bankers sweeten the deal. In June, some creativity was needed to help place a €1.25 billion debt package for ProSiebenSat.1.

Two years after closing EQT IV, EQT Partners is back in the market raising a new buyout fund.

“Increasing awareness and understanding of the industry to key stake holders” is one of the EVCA's chosen priorities – and a formidable challenge.

The global investment behemoth is exploring a listing, sources say.

A dieting celebrity helps two private equity firms enjoy a huge exit.

Blackstone's new mezzanine fund includes innovative reinvest and leverage elements.

A US federal institution is becoming a major holder of equity in struggling companies

Somewhere in New York, a vice president at a middle market buyout firm is leading a double life as an undercover blogger.

Editor's letter 2006-08-01 Staff Writer Throughout this month's issue you will find manifold examples of how private equity firms and individuals have the ability to make a real difference to the environment around them. Take for example, the media and communications industry. Here, companies are polarising