November 2017 Issue
Co-investing is a long-term partnership
Making co-investments is now less about the specific deal and more about the LP-GP relationship.
Millennials fuelling impact investing shift
Responsible investing is moving up the agenda as a new generation takes the reins at family offices.
Prudential on fees, credit lines and co-investment
The insurer's head of alternatives is a fan of private equity, but wants to put the capital to work on his own terms.
Impact special: how private equity can be part of the solution
Impact investors can no longer go it alone. To make a real difference, they must connect with governments, NGOs and corporates to work towards a common goal.
Impact special: TPG on its Rise Fund
TPG has lofty ambitions for its Rise Fund, aiming to change the world — without sacrificing returns — and set standards for tracking impact.
Impact special: measuring the double bottom line
For some fund managers, measuring progress towards impact goals is just as important as assessing financial performance.
Impact special: time for India to look inwards
Investors are increasingly attracted to the country, but domestic LPs need to join in.
Impact special: A healthy partnership
Abraaj's $1bn healthcare fund seeks to partner with a range of stakeholders to reinvent healthcare delivery systems for low- and middle-income populations
Impact special: Palatine braves Brexit chill to raise UK fund
The Manchester firm raised £100m for its debut impact fund despite reporting diminished appetite from European LPs in the wake of the Brexit referendum.
Impact special: The strategy in seven charts
Returns, how managers and investors perceive each other and where the challenges lie.
US mid-market: Why the middle matters
Red-hot competition is pushing GPs to specialise while giving funds of funds managers more options than ever before.
Impact special: GIIN’s Bouri on living up to the potential
The Global Impact Investing Network is a non-profit organisation dedicated to expanding impact investing. Amit Bouri, the co-founder and chief executive, lays out the challenges in scaling the market.
Impact special: Furnishing solutions
Some environmental challenges do not yet have effective answers. There are others for which answer exist, but are not widely implemented. Oskar Nolte is a good example. The German company manufactures environmentally friendly coating systems for the furniture industry, targeting its water-based, solvent-free product at the industrialised manufacturers that supply brands such as IKEA. The […]
US mid-market: Baker McKenzie on standing out from the crowd
With increasing dry powder and strong competition from strategic buyers pushing asset prices higher and higher, it’s more important than ever that mid-market firms differentiate themselves, explains Baker McKenzie’s Michael Fieweger.
US mid-market: Back from the red
Deal Mechanic: When Canadian bathroom products maker MAAX filed for bankruptcy, Brookfield Asset Management spotted a growth opportunity.
Impact special: Building bridges with Michele Giddens
When Giddens co-founded Bridges Fund Management in 2002, she was breaking new ground. Now she’s sharing her experience with a wider audience.
Impact special: Profiting with purpose
LeapFrog offers its strategic investors a safer way to get to know the emerging consumer story.
Impact special: With great wealth comes great responsibility
Former Silicon Valley executive Charly Kleissner set up the KL Felicitas foundation in the early 2000s with his partner Lisa Kleissner to focus on ‘value alignment’.
Japan Post Bank joins the rush to mid-cap
The $1.9trn investor is ramping up co-investments in its domestic market as improving corporate governance among Japanese companies creates carve-out opportunities.
Michael Chae: Eight days a week
The Blackstone is a deal guy who moved into management. He talks about why that's an advantage, and whether the firm's DNA endures.
Regulation watch: Who guards the guards?
A hack on the US Securities and Exchange Commission led to a cybersecurity review, while UK firms must be aware of tax avoidance legislation
Data room: Late to the gold rush
A lack of opportunities and inflated valuations are contributing to fewer but larger transactions.
The diagnosis for European healthcare
The continent is growing in appeal as investing in the US becomes more of a challenge.
Australian firms battle over track record
The court case between PEP and spin-out Adamantem shows why attribution is crucial.
Fund restructuring: a source of friction
The fact that Apax Partners shelved plans for its GP-led secondaries process shows that LPs' desire a genuine 'do nothing' option.
Why changing interest deductibility could turn PE ‘upside down’
US GPs do not seem too concerned about a tax reform limiting interest expense deductibility.
Deal Mechanic: Copied right
How Cinven replicated a tried-and-tested approach in the patents industry.
ABCs of fund finance: credit facilities for secondaries and FoF
Credit facilities on secondaries funds need careful consideration. Matthew Kerfoot, Jay Alicandri and Russel Perkins from law firm Dechert tell us the key issues.
Lexington vs Ardian: clash of the titans
Lexington is flexing its muscles while Ardian is working hard to deploy capital. Who will come out on top?
Vanilla or chocolate? How do you like your fund terms?
Despite the buoyant fundraising market, it still pays for private equity firms to give LPs options on terms.