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.
Company has so far added on three companies and used its cashflow to acquire them
Responsible & Sustainable Corporate Turnaround Fund intends to support the recovery of Italian companies
Sale ends a three-year holding period for the GP, which invested in the company via its seventh fund
Ireland-based enterprise procurement software company is also backed by Paua Ventures