Analysis
SBOs to make comeback
Looking at UK developments could give hints of where Nordic private equity will make its next move. Kimberly Romaine and Rikke Lilla Eckhoff report
Diligent Danes
Amid market talk of a horrific fundraising environment, Danske Private Equity are in the middle of closing its fourth private equity fund-of-funds, determined to commit capital while other funds-of-funds sleep. Rikke Lilla Eckhoff discusses reporting...
Mission impossible
With the threat of LP defaults looming on the horizon, Rikke Lilla Eckhoff talks to Charles Lemon at Matrix Private Funds Group and Dr Jim Strang of Dunedin Capital Partners about how fundraisers can handle the market slump and the strategies they can...
Italy - catching the cold
For a while Italian private equity seemed to have avoided the worst effects of the market turmoil. However, the slump seen over the winter suggests otherwise
Supporting the structure
The noise of restructuring is finally making itself heard. In Italy, media reports have put some private equity-backed firms in the spotlight as they face distressed debt issues. Yacht-maker Ferretti, formerly backed by Candover and Permira, is the latest...
Patrick Lissague, UFG Private Equity
Francois Rowell speaks to Patrick Lissague, director general of UFG Private Equity, and finds that small companies are yet to feel the full extent of the current economic turmoil
Re-motivating management
The economic situation is affecting existing management shares incentives in companies with no equity value as well as - for those companies that can still use equity as an incentive - some of the more popular plans currently being implemented. Rebecca...
Default rates double; set to escalate further
For years bearish professionals have been warning of imminent and widespread defaults. Now it seems they are upon us, with double-digit default rates expected within the year. Kimberly Romaine reports
Staying afloat
The ongoing issues with 3i and Candover have prompted many to question the wisdom of the listed private equity model. But behind these headline-grabbing stories lies a space uniquely positioned to deal with the current crisis
Business as usual
Deborah Sterescu asks Janusz Heath, managing director of limited partner Capital Dynamics, about the current challenges the industry is facing and how to succeed in a changing environment
Mezzanine to soldier on
Lenders are currently struggling under the weight of an underperforming legacy portfolio, but there may be brighter prospects on the horizon. Emanuel Eftimiu reports from Paris
Venturing into the unknown
With distributions down since the internet bust, exit doors shut and fundraising at a standstill, the venture capital industry in the US - and elsewhere - is at a crossroads. Smaller firms, lower returns and adapting to a global market are the next likely...
Hermes Private Equity wagers future for Riva
It's all fun and games, until legislation makes you cry
Give more, take less
Buyouts are making headlines for their scarcity - but their structure is changing too. In fact, a lack of leverage and decreasing stake sizes in today's deals mean buyout houses are dipping their toes in the growth space. Kimberly Romaine reports
Investment slide continues
After the lows witnessed in Q4 2008, many thought the only way was up for European private equity. But with the first quarter witnessing further contraction, many are now wondering if the market has finally hit the bottom
Gambling on gaming
Deborah Sterescu speaks to John Hagan of Harris Hagan, a law firm specialising in gaming and leisure laws
View from CalPERS
Deborah Sterescu asks limited partner CalPERS about its investment strategy and finds the silver lining in today's stormy economy
The solar system
Of the various technologies that make up the renewable energy sector, it is solar that absorbs the most capital. European and government incentives make it an attractive investment for both GPs and banks despite the economic slowdown. By Francinia Protti-Alvarez...
Expanding horizons
While the European private equity market lies in tatters, the ^Q1 2009 unquote" Private Equity Barometer, produced in association with Candover, announces optimistic statistics for the Benelux market. Although the region has been affected by debt issues,...
Commission proposals: a "lucky escape"?
After the storm that followed the launch of the EU Commission's proposal for an Alternative Investment Fund Managers Directive the full text has finally been released, with one prominent lawyer describing the private equity industry as having had "a lucky...
Rubbish deals
Prior to Lehman's collapse, the environment was one of the main issues on many government agendas. With dealflow all but dried up owing to financing difficulties, waste management stands out as a defensive sector
Running out of fuel
Unsurprisingly, private equity investment activity continues its deceleration amidst a bleak macroeconomic environment. By Rikke Lilla Eckhoff and Ashley Wassall
Don't let the sun set on your LP relationships
Diversification and communication are the best ways to ensure a smooth ride with your investors in CEE as in the rest of Europe. Kimberly Romaine reports
German protectionism
New legislative amendments in Germany designed to safeguard national businesses present a potential problem for private equity, writes Mareen Goebel