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.
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater