December 2012 / January 2013 Issue

There are one billion people on the continent of Africa – but GPs are still struggling to find the managers to run their portfolio companies, writes Yolanda Bobeldijk

Does the success of Baring Vostok’s recent fundraising suggest that international LPs are now willing to overlook some long-held concerns about Russia? Yolanda Bobeldijk reports

CEE countries offer better growth prospects than Western Europe. But are investors struggling to find the right place for it in their portfolio? By Dan Colombini

This year, we asked a cross-section of GPs and LPs whether the Arab Spring has affected their appetite for investing in the MENA region – either positively or negatively. Here’s what they had to say

Istanbul’s opportunities have long overshadowed those in Turkey’s Anatolian region – but that is beginning to change, says Vicky Meek

Which Asian-headquartered firms are making the greatest strides on the fundraising front? Here are five rising stars to emerge from this year’s PEI 300. By Clare Burrows and Michelle Phillips

Tightening exit conditions have increased the incidence of secondary deals in India – but it’s also a sign of the industry’s evolution, writes Siddharth Poddar

For private equity limited partners looking to get exposure to the whole Southeast Asia region, there are not many options available, writes Siddharth Poddar

Government regulation and sudden tax hikes are restricting foreign investment in Mongolia’s remarkable growth story, writes Jessica King

2012 was the year the world’s growth engine slowed

The acrimony over the collapse of OpCapita-backed UK retail chain Comet may have far-reaching consequences for turnaround specialists

Pye basks in the glory of his investment committee success - and catches up with his man in Athens

Kinea Investimentos structured its new fund in an unusual way – so it could expand its LP base beyond its demanding domestic pension funds. Sam Sutton reports

Baird Capital Partners Europe managed to grow a financial services recruitment business substantially during the downturn – thanks largely to some savvy repositioning

Emerging markets seem to be slowing down – and some of the hottest markets look in danger of overheating. But there are still fabulous growth opportunities to be found.

As it gradually builds out its internal team of operators, Apax is hoping that a flexible employment model will be a useful recruiting tool, writes James Taylor

LPs usually want venture firms to sell or distribute publicly-quoted stock as soon as the lock-up period expires – but that may not be in investors’ best interests, writes Michelle Ashworth

US firm Wellspring figured out that a chain of convenience stores in West Texas would profit from the strong growth of the US oil and gas industry, writes Christopher Witkowsky

Nino Tronchetti Provera’s Ambienta focuses on growth businesses with an environmental twist. It’s hard to dispute the Italian firm’s basic investment thesis – but as it prepares to raise a second fund, has it done enough to convince LPs that it’s worth backing?

Permira got its timing right with its 2007 investment in Macau casino Galaxy. But it may be too late for other investors to follow in its footsteps

Dutch investment manager PGGM manages roughly €128 billion for five pension fund clients, with a 6 percent private equity target. As it continues to build its in-house expertise following the sale of its interest in Alpinvest, Ruulke Bagijn – who joined to lead that sale, later became its private equity head and is now CIO of private markets – talks to PEI about its progress, plus its focus on responsible investment

When First Round was a very small magazine intro section, First Round Snr had a very curious episode, shortly after turning 40. First he dyed his hair blonde. Then he bought a pair of leather trousers. Then he got a bright orange Ford Capri.

OPTrust has appointed William Hatanaka as its new CEO – but the fall-out from the acrimonious departure of his short-lived predecessor rumbles on. By Graham Winfrey

LPs enjoy a big rise in distributions from fund managers as recession and ‘golden age’ vintages mature, writes Sam Sutton

Metric Capital Partners has put together a high-powered team from the private equity world to try and tap into credit opportunities in the European mid-market. By Oliver Smiddy

Dividend recaps are undeniably controversial. But they’re a perfectly legitimate way for managers to get much-needed capital back to their LPs – as long as they’re done right