May 2010 Issue

CalSTRS’ CIO Christopher Ailman recently spoke with Amanda Janis about some of the clouds hanging over the private equity asset class as well as controversy surrounding the ILPA principles.

The opening of a Shanghai office by European mid-market firm Investindustrial shows just how important the Chinese consumer is becoming.

Hurdle rates and carry distributions are among the terms attracting increased LP attention, while the ILPA guidelines could have been taken ‘a bit too far’, warns a whitepaper on private equity terms and conditions.

The $28bn Guardian Life Insurance Company of America is steering its private equity allocation towards the emerging markets for the first time.

Private Equity International's fourth proprietary ranking of the largest 300 private equity firms in the world.

HarbourVest is plotting to access the UK public markets to add liquidity to its listed vehicle and raise fresh money to invest in European debt.

LPs are increasingly looking for co-investment opportunities and other highly tailored vehicles that are customised to their preferences. In a tough fundraising environment, GPs are complying, writes Christopher Witkowsky.

Ten years ago Silver Lake burst on to the scene with a $2.3bn debut fund and a novel strategy: LBOs of mature technology companies. In a rare interview with co-founder Jim Davidson, PEI learns how an intense passion for technology’s potential, coupled with an approach markedly different from many other large private equity firms, has kept Silver Lake firmly above water and expanding its business lines.

Jon Moulton’s Better Capital is doing what most listed private equity funds can only dream of: trading at a premium.

Invest AD, the MENASA-focused private equity firm backed by the Abu Dhabi Investment Council, recently began raising Fund II. Seeded with $75m, the fund is targeting $400m and has made its first investment via a €50m stake in Turkey’s largest logistics company. Originally set up in 1977 to invest in the region on behalf of Abu Dhabi, the private equity division is headed by Samir Assaad. He speaks with PEI about the group’s recent evolution.

Previously overlooked, Mongolia is fast becoming an investment destination in its own right and an indirect way to access the Chinese growth story

Demand for Mexican private equity fund managers may help grow the supply, writes David Snow.

Before taking a dividend out of a portfolio company, protect yourself from legal liability, writes Jennifer Harris.