December 2014 / January 2015 Issue
Struggles in East
Few investors are queuing up to invest in Central and Eastern Europe, let alone Ukraine. And, there is no sign this will change any time soon. Yolanda Bobeldijk reports.
Brazil bounces back
After a slowdown in fundraising and new elections, Brazilian private equity could be on the rebound. By Bailey McCann.
Peña’s project
On the back of rapid political reform, the number of GPs active in Mexico is rising, says David Turner.
The evolution continues
Given significant geopolitical uncertainties, countries in the Middle East and North Africa haven’t been the easiest places to attract investor interest and complete deals. Yet there are signs that activity is picking up slightly, writes Yolanda Bobeldijk.
Scales of the city
Many of the world’s fastest growing urban centres are in emerging economies, offering investors compelling opportunities — as long as they can stomach the political risks, writes David Turner.
Biding time
Although sub-Saharan Africa is the emerging market on everyone’s lips, many investors are not quite ready to take the plunge
New cycles
Improving regulatory conditions are expected to enhance private equity activity in Vietnam, finds Clare Burrows.
A market for buyouts at last?
India’s much-criticised private equity sector is bidding to reinvent itself.
Shopping abroad
There’s a big pile of uninvested capital in China. To work off the overhang, GPs are increasingly looking for assets overseas.
In recovery mode
Distributions from emerging markets private equity funds are on the rise again, and LP interest is coming back, writes Clare Burrows.
Special features
A recent study proves sector specialisation trumps generalist private equity strategies.
Silver surfing
First Round has always been a bit confused about why there are so many restrictions on fund marketing.
PECing order
There are very few things that First Round can say it’s any good at, but blagging its way into industry events is one of them. When it comes to charm and chutzpah, well, let’s just say the cup runneth over.
Hawaii continues PE push
The Hawaii Employees’ Retirement System is pushing for more private equity in its allocation mix, according to its 2015 plan.
In a fizz
First Round may have just found its new favourite portfolio company: British drinks company Fever-Tree.
Rolling up their sleeves
From bringing more asset management functions in-house to regular use of the secondaries market, pension funds are taking a more hands-on approach to managing their portfolios.
Insurance policy
As almost half of Asia’s insurance companies seek more exposure to private markets, China’s insurers are sticking to the safer bets in private equity, Clare Burrows reports.
Left exposed
The AIFMD places nearly unlimited liability on third party-providers of asset valuations. The providers don’t like it, writes Bailey McCann.
Second wind
Secondaries funds amassed serious capital in Q4, propelling the market toward another bumper fundraising year. But will GPs struggle to put the dry powder to work? Isobel Markham reports.
What’s in a name?
ISIS Equity Partners has unveiled its new name: Living Bridge. How tough is it to rebrand — and does branding matter to investors? Isobel Markham reports.
In it for the (very) long haul
Carlyle and CVC are marketing vehicles that will have much longer lives than the traditional 10-year structure. Is this a threat to conventional private equity, asks Yolanda Bobeldijk.
A life more ordinary
So yes, you read that right. There’s been, erm, a slight change of career track. Totally my decision, you understand. And definitely the best thing that could possibly have happened to me.
When regulation blocks the route to exit
In the energy sector, political interference can scupper private equity’s best laid investment plans all too easily.
Privately Speaking: EQT's Thomas von Koch
Thomas von Koch, who has been with EQT since inception, succeeded Conni Jonsson as a managing partner nine months ago. He talks to Yolanda Bobeldijk about maintaining a successful team, expansion in the US, and how he’s trying to improve private equity’s image in Sweden