March 2011 Issue

Two weeks after losing a £1.6bn equity investment in EMI, Terra Firma’s Guy Hands met PEI in his Guernsey office to discuss what he has learned from the last three years and how he intends to get Fund III ‘back to flat’.

The Latin American Handbook 2011-03-08 Jenny Roberts Please click on the image below to access the Latin American Handbook:  

PEI Annual Review 2010 2011-03-08 Jenny Roberts Please click on the image below to access the PEI Annual Review 2010:   

An increased focus on operational capabilities and long-term ‘value-add’ is being trumpeted by growth-focused GPs in China and India. But it has to be more than just rhetoric.

Growth capital investor General Atlantic in January invested a reported $200m for a minority stake in internet security firm Kaspersky Labs, marking its first Russian investment. John Bernstein, head of the firm’s European activities, explains why the firm liked the company and how it gets ‘comfortable’ with BRIC investments.

You think an SEC audit is scary? It’s a cakewalk compared to a visit from FINRA, which very well may become the overseer of US private fund managers.

Private equity firms of all shapes and sizes are bracing themselves for an onslaught of new regulations on both sides of the Atlantic, but funds of funds face a unique set of resulting challenges.

First Reserve has hired two Candover veterans to lead its Asian efforts, including the man behind 3i’s Asian business, Jamie Paton.

Thought the campaign behind a carried interest tax hike died last year? Think again.

This time last year, as the private equity industry digested the effects of the global financial crisis, talk was rife about consolidation in the funds of funds market. So what happened? Vicky Meek reports.

Some of the largest LBOs agreed during the heady days of 2006 and 2007 are readying record-setting IPOs.

On a recent trip to Toronto, PEI spoke with two Canadian fund managers who (happily) consider their target markets uninteresting to other GPs.

The outperforming Canadian private equity market experienced an increase in deal flow as well as interest from foreign investors in 2010, but GPs on the ground are not quite ready to declare victory.

CalPERS has put up about $800m-worth of private equity stakes on the secondaries market – an action other US public pensions are considering as average bid prices climb.

Why the acquisition of Carlyle-AlpInvest deal works for both buyer and seller.

What it takes to raise a fund in 2011.

The UK government has levelled some strong criticism at the door of its former captive investor, but it seems misplaced.

Buyout shops are paying higher multiples for UK private companies, with the large majority of GPs expecting the trend to continue.