Industry
The Big 3
Rikke Lilla Eckhoff talks to Katharina Lichter, a managing director and head of research at Capital Dynamics, about succession issues, spin-out teams and the bid-ask spread on secondaries
Divesting distress
A recent legal case has revealed a renewed focus by French courts on vendor liability post-sale, which has strong implications for private equity firms looking to divest troublesome assets. Ashley Wassall reports
Strange bedfellows
Not so long ago, corporates and private equity firms were arch rivals in many hotly contested auctions. Could the lack of liquidity in today's market, volatility and poor visibility encourage erstwhile contenders to consider joining forces?
A law of unintended consequences
Adam Levin, partner at international law firm Dechert LLP, discusses the potential implications of the EU Commission's proposed directive
Leading the way
LDC's Darryl Eales talks to unquote's Emanuel Eftimiu about the challenges of investing in a disrupted market
The forgotten market
Debt markets have re-opened. Pity so few know
A new model of investing
These days deals are about patience and graft with a view to de-risking and monetising old-fashioned value-add, writes Deborah Sterescu
EUROPE - Candover reports further NAV decline; Buffin steps down
Bealeagured buyout firm Candover today released its interim management statement, which reveals a further 12% decline in NAV and sweeping changes to the firm's management.
GERMANY - BVK study reveals German private equity disadvantaged
A new report initiated by the BVK has revealed that private equity in Germany is being placed a competitive disadvantage to both the US and other EU countries by a lack of tax transparency and cumbersome legislation.
LP perspectives
Following the downturn in the markets, the balance of power between GPs and LPs has shifted, giving LPs greater control. Deborah Sterescu speaks to three LPs to find out how their strategies and attitudes have changed
The VCT generation
Despite stricter government regulations and a harsh investment climate, it would seem that the VCT industry is still active and looking for new and creative ways to invest, writes Deborah Sterescu
EUROPE - Osmosis appoints Agentius as fund adminstrator; bolsters team
London-based asset manager Osmosis Capital LLP, has appointed Augentius Fund Administration as the administrator for its forthcoming fund-of-funds.
EUROPE - Q2 figures buck downward trend
Amid widespread talk in the press of "green shoots" in the wider economy, there have been signs of a positive shift in private equity investment activity, according to the unquote" Q2 2009 Private Equity Barometer, produced in association with Candover....
Global - BC Partners writes up value of 2005 fund by almost 25%
Private equity firm BC Partners has reportedly marked up its current fund by almost a quarter in the first half, restoring it to face value.
GLOBAL - Calpers private equity assets plunge 23%
CalPERS' private equity assets have fallen 23% in the last year, the worst annual decline the nation's largest public pension fund has ever reported.
GLOBAL - KKR to merge with KPE
Kohlberg Kravis Roberts & Co (KKR) and Amsterdam-listed vehicle KKR Private Equity Investors LP (KPE) has obtained the necessary approvals to go through with the merger reported on unquote" news last month.
GLOBAL - Capital Dynamics acquires Silicon-Valley based HRJ
Capital Dynamics has confirmed the take-over of Silicon Valley-based HRJ Capital's private equity and real estate fund-of-funds, as reported on unquote" news in April, following the consent of the LPs of HRJ's funds.
GERMANY - Waterland closes A-Rosa Deal
Waterland Private Equity has closed the management buyout of river cruise operator A-ROSA Flussschiff GmbH.
CEE/AUSTRIA - Capexit dissolved; Kaltenegger leaves AVCO board
The industry shakedown has claimed a prominent victim in Austria: Capexit, the private equity arm of Erste Group that invested primarily in the Czech Republic, Austria and Slovakia, has discontinued operations, with the portfolio now in the hands of the...
GLOBAL - LP demand for responsible investment rising
According to a survey published today as part of a guide to responsible investing in pirvate equity, 93% of institutional investors would expect all their potential and future GPs to respond to questions surrounding environmental, social and governance...
UK - GMG decision on code of conduct delayed due to EC plans
The Guidelines Monitoring Group (GMG), an industry-appointed body that tracks UK private equity firms' adherence to the Walker transparency code, has reportedly delayed a decision on whether more buyout houses must conform to the code as a result of debate...
UK - Four Seasons set to agree restructuring deal
The proposed sale of care-home operator Four Seasons Health Care to buyout house Advent International now appears unlikely, as senior lenders agreed terms on a restructuring deal that will see them take a substantial equity stake in the business.
Trust is at the heart of the matter
Mareen Goebel speaks to Dr Frank Thianer, who focuses on private equity transactions, about the challenges and opportunities facing the industry