June 2015 Issue

One year into Narendra Modi’s term in office, the market euphoria that greeted his election has dissipated. Public markets initially surged, but fervour has been dampened somewhat as corporate earnings have disappointed and the realisation has sunk in that reforms will take longer than many expected. For local private equity players, the mood is one of cautious optimism that the pro-business reforms will eventually kick-start the investment cycle once again. PEI sat down with four PE experts to gauge the mood, and to try to determine when the political and macroeconomic backdrop would swing back in their favour

Our pick of memorable moments of the month just gone

CRPTF is taking aim at middle market Connecticut-based businesses with its new private capital program initiative

In the aftermath of the Lehman collapse Permira’s investment in Hugo Boss looked set to become the archetypal pre-crisis white elephant. Through a combination of sensible debt restructuring and nerves of steel the European buyout house turned it into one of  its biggest wins yet.

Larger deals, club deals, add-ons and greater specialisation are high on the agenda for the buyout community this year

With the Springboard deal confirmed, Bridges’ US based partner John Rogers is optimistic that impact investing is being taken more seriously and that other US deals are now close

For investors, agri-business in Sub-Saharan Africa is a sought-after strategy at present. But patience and a focus on social impact are essential ingredients

In the past, venture capital investing in Europe has often disappointed. But now  a new wave of enthusiasm is rolling across the continent, and this time round things could be different according to four London-based VCs

OPERF looks to reinforce its large buyout brawn

A study of PE buyouts of US mid market public firms reveals the target’s mean break- up fees have risen, according to law firm Schulte Roth & Zabel

Growing demand for wood pellets is shaking up alternative asset strategies, especially in the US

Still reeling from the very public failure of Better Capital portfolio company City Link, self-styled private equity maverick Jon Moulton reflects on the past year and the tough environment for turnaround investing

The latest charity initiative from the Impetus Private Equity Foundation deserves our attention

A group of female US lawyers beat the industry work-life balance benchmark

Avon is vexed by the bidder that wasn't

Senior PwC tax specialists Vanessa Broeders and Femke van der Zeijden argue that private equity firms need to find a new metric to account for their tax profiles

Lawyers at King & Wood Mallesons argue that many private equity firms have overlooked important recent changes affecting the legal rights of employees of LLPs

A round up of the best of this month's magazine

The French buyout market has been suffering in recent years, but GPs in the region believe sentiment is changing and better times are ahead.