Front page

David Larsen, a managing director at Duff & Phelps, says investors should seek guidance from their GPs as to likely discounts.

First-time fund managers are set to have an even tougher time on the fundraising trail amid the pandemic, but there could be opportunities for those raising capital on a deal-by-deal basis.

Drawdowns could enable managers to pre-empt liquidity issues arising from the pandemic but may compound the problem for certain LPs.

Managers should get ready for internationalisation, downward pressure on fees and bigger private capital allocations, should the current wave of mergers come to pass.

The firm ended last year with €533m in cash, no structural debt and €3.8bn in dry powder.

The asset manager has pulled plans for either a private sale or IPO for an Australia-based coal export terminal amid travel restrictions and market volatility.

Lawyers from Paul Weiss pinpoint the areas of a private equity firm's operations that may need to be adjusted to account for the coronavirus outbreak, including fund documentation, valuation and banking relationships.

ArcLight Capital Partners’ $3.4bn haul for its seventh flagship fund and Odyssey Investment Partners’ $3.25bn for its sixth flagship fund were among the largest funds closed during the month.

Dag Skattum, Europe head of the asset manager's Long Term Private Capital fund, says family- and privately owned companies are attracted to a more flexible type of capital.

Negative returns in credit, funds of funds and emerging markets dulled the $402bn institution’s PE performance last year, investment committee documents show.