December 2007 / January 2008 Issue


    Month: December
    Year: 2007

    Back to Print Editions

    LEVERAGE LATIN-STYLE

    After setting a regional fundraising record with its fourth, $1.3bn buyout fund, Advent International is pioneering the use of several landmark finance instruments in Latin America.

    WELCOME TO LIBYA

    Libya's political rehabilitation has turned it into the latest target for frontier investors.

    FROM JOURNALIST TO FUND MANAGER

    Crocker Snow, founder of The World Paper and veteran reporter, has joined forces with AIG and Cornerstone to raise a unique vehicle focused on emerging markets in Asia and elsewhere.

    SUCCESS MADE IN CHINA

    Lenovo's acquisition of IBM's personal computer business saw a Chinese corporate join forces with several US private equity firms. The outcome looks likely to be a happy one.

    PERMIRA'S TRANSITION

    Changing times at one of Europe's leading buyout houses as Buffini becomes chairman.

    PHILANTHROPISTS MEET

    350 delegates from 30 countries made EVPA's fourth annual gathering in Madrid a milestone event.

    SINGING A DIFFERENT TUNE

    Terra Firma's Guy Hands has brought a fresh perspective to EMI.

    WALKER PROPOSALS GIVEN TEETH

    Sir David Walker's report on transparency and disclosure has encouraged UK industry body the BVCA to name and shame non-compliers with his proposed code.

    FRETTING OVER TAX

    With the controversy over taper relief raging on, UK private equity professionals are facing an uncertain fiscal future.

    ALTERNATIVE ASCENSION

    As Merrill Lynch, Citi and Morgan Stanley reeled from the sub-prime meltdown, alternative investment executives loomed as potential saviors.

    THE END OF THE AFFAIR

    Several big buyouts have collapsed as a result of the liquidity crunch. For private equity firms, getting out of a broken deal can be a long and painful process.

    NO HURDLE

    Warburg Pincus' new fund enjoys a term concession more common to hedge funds.

    THE BAIN DIASPORA

    Of private equity's several prominent talent breeding grounds, Bain & Co. may be the most fertile.

    WELCOME TO THE 1% CLUB

    A southern European mid-market firm is pitching a radical idea to private equity firms eager to boost their charitable engagement.

    THE G CURVE

    THE G CURVE 2008-01-01 Staff Writer You may not have heard of Mojo, a high-definition cable network that, in New York, can be found on channel 701. And you also may not have heard of BG Capital Group, a merchant bank with offices in Barbados and Florida and led by one Bobby Genovese, a Canadian transplant wh

    STELLAR PERFORMER

    The first man to float in space is now a key player at Russian private equity firm Baring Vostok.

    Editor's letter

    Investing through the cycle

    PEO 2.0: WARY OF WALKER

    Nicholas Lockley, editor of PrivateEquityOnline.com, looks behind the recent headlines on the web.

    KATHY JERAMAZ-LARSON EXECUTIVE DIRECTOR INSTITUTIONAL LIMITED PARTNERS ASSOCIATION

    Entrepreneur and venture capital investor Kathy Jeramaz-Larson is now helping the Institutional Limited Partners Association (ILPA) go large. The Toronto-based, global association, with nearly 180 members, is eager to expand its ranks as well as the benefits it provides its members, and since last January Jeramaz-Larson has led this charge. Private Equity International spoke with her recently about the goals of an association that counts the world's largest private equity backers among its members.

    EMERGING MARKETS SPECIAL: PREDICTIONS

    Private Equity International asked five leading emerging markets private equity experts for their responses to the following question: “What do you think will be the key developments in emerging markets private equity over the next five years?”

    EMERGING MARKETS SPECIAL: BRAZIL

    The success of the Brazilian IPO market presents private equity managers with more options and higher returns. By Jennifer Harris.

    EMERGING MARKETS SPECIAL: RUSSIA

    Russia's emerging private equity market is growing up. Leverage levels are rising as deals become more mainstream and international interest grows. But investing in Russia is still a challenge for non-locals. Nicholas Lockley reports.

    EMERGING MARKETS SPECIAL: SUB-SAHARAN AFRICA

    Fundraising in Sub-Saharan Africa is gathering momentum as emerging markets limited partners turn their attention to one of the world's final investment frontiers, writes Toby Lewis.

    EMERGING MARKETS SPECIAL: EMERGING ASIA

    The emerging markets of Asia have become compelling investment destinations on several counts: growing affluence, large populations and double-digit economic growth among them. Sharon Lim reports on their prospects.

    EMERGING MARKETS SPECIAL: TURKEY

    Private equity deals in Turkey to date have been sporadic and isolated. But rising interest on the part of some of the industry's best-known acronyms – DFJ, KKR and TPG, to name a few – indicates an up-tick in activity lies just around the bend. Amanda Janis reports.

    EMERGING MARKETS SPECIAL: MENA REGION

    The MENA region's exponential growth and staggering liquidity, coupled with governments that have begun to liberalise and privatise their economies, have resulted in a private equity boom. Amanda Janis talks to industry experts and reviews some of the region's most salient events from 2007.

    EMERGING MARKETS SPECIAL: INTRODUCTION

    Despite recent turmoil in the credit markets, confidence in prospects for emerging markets remains high. By Nicholas Lockley.

    PERFORMANCE

    Until the middle of this year, private equity exits were continuing to set new records in terms of value and number. But, in the second half, it was clear that the wheels had fallen off the bandwagon. Andy Thomson reports on the results of a new survey.

    ASSET CLASS

    Mike Powell has hit the ground running since being hired to lead USS, Britain's second largest pension fund, into alternative investments. Taking a brief time-out from frenetic networking, he spent some time in conversation with Andy Thomson.

    THE RUSH TO RENEWABLES: PART TWO

    The November 2007 issue of PEI looked at the mistakes GPs were in danger of making as they scrambled to back renewable energy projects. In the second of a two-part feature Sam Richardson, an investment director at London-based venture capital firm E-Synergy, considers the pitfalls confronting limited partners.

    GOOD WORK FOR GOOD WORKS

    Following some impressive results, a venture philanthropy outfit is preparing to raise funds. Nicholas Lockley reports.

    DOERR OPENS TO GORE

    Former US Vice President Al Gore has become a partner at Kleiner Perkins, as part of a joint venture to find and fund greentech companies. Amanda Janis reports.