In the second video of Unquote’s Lockdown series, Joe Topley, head of European funds at Ontario Teachers' Pension Plan (OTPP), shares his LP perspective on the current state of the private equity market.
Topley joined Denise Ko Genovese to talk about falling valuations and the lack of visibility in portfolios, getting comfortable with meeting first-time managers on video call, and more.
Investors were expecting significant distributions to come out of their portfolios this year and since those won’t be anywhere to be seen for the next 12-18 months, some LPs are facing the prospect of a significant liquidity squeeze, he said. Topley also shared his concern that some GPs may end up investing in sub-optimal deals in a push to deploy capital, and warned fellow LPs to be suitably vigilant.
Polish buyout firm Abris Capital Partners has signed an agreement to sell its stake in Polish locomotive lessor Cargounit, also known as Industrial Division, to Three Seas Investment Fund (3SIIF).
Amplify IV targets seed and series-A rounds, while Amplify Select makes follow-on investments in existing portfolio companies
GP had previously made an offer of SEK 70 per share, which was later increased to SEK 72 per share
Company intends to boost its production capability, bolster its international expansion and pursue a buy-and-build strategy