September 2008 Issue

In July 2007, Bruce Huber, the existing head of Jefferies' European technology investment banking division, was made co-head of European financial sponsor coverage alongside Warren Scott. Over the past year the US-based, globally active organisation has aggressively grown its European business - both organically and through acquisitions. The firm has advised on a number of notable private equity transactions in Europe, including the £1 billion (€1.3 billion; $2 billion) acquisition of UK publishing group Emap's business-to-business assets by Apax Partners and Guardian Media Group in March 2008. PEI recently caught up with Huber to gauge his view of mid-market conditions. On the whole, he remains “cautiously optimistic”. As he reveals below, however, there are plenty of challenges - not least getting deals over the finishing line.

Already faced with more difficult market conditions, Dutch private equity professionals could have done without the double whammy of a tax hit. Unfortunately, that prospect is looking inevitable. Andy Thomson reports.

Daniel Max explores the use of insurance capital solutions in the secondary market.

Dulcie Brand explains how to successfully navigate the consent process in secondary sales.

The hold time for venture investments now averages more than eight years. Western IPO markets have shut down. Investors and entrepreneurs may increasingly feel trapped. Amanda Janis reports on the venture industry's growing need for liquidity and the firms poised to provide it.

In today's secondaries market, many different sellers have many different motivations. By David Snow.

InReturn's Steve Otto is adamant that a commercial approach is the only way to effect sustainable economic development in East Africa, reports Toby Mitchenall.

Andy Thomson reports on a UK endowment doing its best to plug the equity gap for innovative young businesses.

The drive to reduce carbon emissions is bringing about profound change in the business world. Sam Richardson argues that alternative assets will not be immune from the effects.

As private equity starts to penetrate Peru, Compass Group is raising the most ambitious fund the South American nation has seen to date.

After spending six years at banking giant Goldman Sachs, Kashif Siddiqui, Hazem Shawki and Walid Zein are seeking to expand the Egyptian investment bank EFG-Hermes' private equity arm.

In tough market conditions, the bank's European leveraged finance head is pleased to have new products and expanded emerging markets coverage to focus on.

Having served itself a 75 percent measure of one of Germany's oldest and best-loved drinks companies, Aurelius plans to rejuvenate some of its neglected brands.

Another large Australian public company has rejected a private equity offer - nothing new there. Despite that, financial buyers believe changing corporate sentiment is offering renewed grounds for optimism.

Strong appetite for a new fund of funds included investors looking to switch out of larger funds and into the mid-market.

KKR continues to expand its investment activities and internal structure ahead of a public offering on the NYSE later this year.

In recent times GPs have waded into the luxury-goods market, snapping up some of the world's most coveted icons of style. PEI selects brands so cool that the GPs who own them look stylish even if the investment fizzles.

MIRROR, MIRROR ON THE WALL? 2008-09-01 Staff Writer … who's the best private equity firm of all? In order to preserve our reputation for steadfast impartiality, we at PEI would have to respond to such a highly subjective question with a robust “no comment”. So we asked

HM Capital has completed a three-year fundraising effort, officially launching a new chapter for the former Hicks Muse Tate & Furst.

THIS OLD HOUSE 2008-09-01 Staff Writer Let's hope a GP's approach to home remodeling is not indicative of his approach to managing the portfolio. If so, Chrysler may be in worse shape than originally thought. According to a recent cover story in the Wall Street Journal, Stephen F