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
Posted at 12:00am
You can’t accuse tech VCs of hiding behind closed doors. Read more
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Michael Joseph, a former senior executive at Lloyds Bank and long-time supporter of its private equity arm LDC, has joined US investment group DE Shaw to head a London-based investment team. Read more
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One of private equity’s best-known recruiters, Guy Townsend, is going for a world record, in aid of charity. Read more
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As one of the longest-standing listed private equity investors, 3i should be lighting the way for other firms in terms of disclosure and transparency. And so it is. Read more
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The personal campaign of a British tabloid newspaper against one of the world’s most respected businessmen was shameful, unnecessary and saddening. Read more
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Speaking of mavericks, Luke Johnson has published a selection of his favourite comment articles written during his eight years as a business columnist on The Sunday Telegraph. Read more
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Who would be a mezzanine provider in today’s market? Credit traders’ voracious appetite for loans far exceeds supply, and that is despite a surge in issuance last year that saw Europe’s first €1bn mezzanine deal. Read more
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Luc Vandevelde knows who the boss is at Change Capital Partners. It’s him. The Halley family “will eventually get their money back, like any investor would in a private equity fund, but the exit of the portfolio companies is at the sole discretion of the general partnership, which is run by myself and my colleagues”, he said. Read more
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Private equity investors, who have been accused of “casino capitalism”, aren’t the only ones taking flak at the moment. Read more
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From The Times, Thursday 26 April: “Private equity firms have had a bad press of late – branded every employee’s worst nightmare. But the sector is hitting back via a campaign by the magazine Real Deals. 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.
