As conventional exit options dry up, direct secondaries transactions are beginning to hit GPs’ radars. Will the economic slowdown bring them into the mainstream?
Tuesday, 13th May 2008
Vulture 2.0
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Years after Apax’s position as an early-stage VC became untenable, the firm continued to deny it was leaving venture. Read more
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The Vulture was treated to the inner workings of a leading private equity-focused law firm, when he joined Weil Gotshal Manges at its European lawyers’ retreat in Lisbon last weekend. Read more
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At a small buyouts dinner hosted by GE Commercial Finance at a Michelin-starred curry house in London’s Mayfair, the Vulture engaged in a spicy debate with private equity guests over the role of the industry’s associations. Read more
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Self-destructing messages were once the stuff of Mission: Impossible and other far-fetched TV shows. But Trapezia Capital’s latest investment offers StealthText, self-destructing text messages that are set to become standard on mobile phones. Read more
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In response to Ferguson’s comments (above), none other than Jon Moulton of Alchemy Partners felt compelled to write to the Financial Times with a question. Read more
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Isis Equity Partners has acquired ScriptSwitch, a medical prescribing software company, in a £9.9m (€14.5m) replacement capital transaction. Read more
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Wassup homies! Now what the heck is this? A basketball slammin’ Alistair Brew of Octopus Private Equity and skateboarding Sweet Cred exec Clive Garrad are down with the kids, that’s what. Read more
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Promethean, the quoted private equity firm headed by Sir Peter Burt, walked into a hailstorm this month with its £8.5m (€12.4m) acquisition of InterMediaActive – the company which was fined last year for carrying “abhorrent” pornographic content. Read more
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An impressive band of investors, hacks and PRs turned up at a swanky Soho bar last week to wave a sad farewell to Peter Smith, the Financial Times’s private equity correspondent, who is set to return to his native Australia. Read more
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At an enjoyable clay pigeon shooting jolly in Berkshire this month, courtesy of Lloyds TSB, private equity guests were treated to close tuition followed by a 12-bore extravaganza free-for-all. Read more
LATEST ISSUE
Leader
The sins of the parent
It is not often that the UK chief of a mid-market private equity house ups and leaves in the midst of an ignominious deal collapse. So when European Capital co-founder Simon Henderson walked away from the firm he helped create last week, the news was greeted with shock.
Top Story
The direct approach
As conventional exit options dry up, direct secondaries transactions are beginning to hit GPs’ radars. Will the economic slowdown bring them into the mainstream?
Feature
An interview with Doug Miller
The outgoing EVPA chairman talks about private equity’s cynics, the evolution of venture philanthropy, and why investors should not hide their charitable activities.
Comment
Full stream ahead
European GPs are increasingly adopting the US’s deal-by-deal approach to waterfall distribution. But it’s not all smooth sailing, says Stephen Sims of Macfarlanes.
News Analysis
Wellington partners: ready for battle
Exceeding its fundraising target was the easy part. Now for the US-style returns.
