September 2015 Issue
Despite coming off the back of a strong year for new fundraising and returns, as well as a record year for exits in 2014, the private equity industry now finds itself at something of a crossroads, facing myriad challenges which may lead to inopportune circumstances for dealmaking in 2015. These challenges include abundant levels of global capital pushing asset prices to historic highs; big institutional investors and shadow capital reshaping the relationship between LPs and GPs; a strengthening US economy and resultant impact on private equity investors; and the difficulty LPs have in choosing GPS to invest behind, due to the narrowing spread of returns that separates winners and losers. For private equity firms looking to perform in this demanding new environment, creating value is a must, to continue last year's strong performance in 2015 and beyond.
FORUM: Regulatory and compliance challenges for private equity funds
FW moderates a discussion on regulatory and compliance challenges for private equity funds between Michael B. Gray at Neal, Gerber & Eisenberg LLP, Nathan Cahill at Minter Ellison, Salvador Ruiz Bachs at Allen & Overy LLP, and Jason Brown at Ropes & Gray LLP.
Increasing reporting and transparency demands for PE funds
Global Risk Management Advisors Private equity fund managers who have been in the business for a while most likely long for the days when the only external reporting they needed to do was to provide their limited partners with investor statements...
Valuation challenges in the private equity industry
FTI Consulting Private equity valuation has always presented a number of challenges. Such challenges typically arise out of opaque levels of information available in the market, such as finding suitable guideline companies, and...
Leveraging local currency to maximise returns
Frontier Markets Fund Managers Private equity, despite being global, is largely a hard currency dominated industry with the majority of funds being raised in US dollars, even those that are focused on shores far beyond those of the US. Consequently, the...
Institutional capital’s growing comfort with emerging market private equity
Overseas Private Investment Corporation (OPIC) As of this year, the 10-year average emerging market private equity returns are roughly comparable with developed market PE returns. To which developed market LPs can be quick to point out, ‘but you don’t get...
Africa’s regional integration and its importance for private equity
AfricInvest Over the past decade, the African continent has been experiencing an increase in inter-regional integration led by both trade and corporate expansion. In particular, many North African companies are now looking beyond...
PE exits in Africa – a market gaining momentum
Emerging Capital Partners Africa’s abundance of resources and potential for expansive economic growth continues to attract an ever-growing number of investors looking for significant returns on their investment. In the private equity space...
Q&A: Managing data privacy and cyber security risks for private equity funds
FW moderates a discussion on managing data privacy and cyber security risks for private equity funds between Mike Gillespie at Advent IM Ltd, Sharon R. Klein at Pepper Hamilton LLP, and Luke Scanlon at Pinsent Masons LLP.
CONTRIBUTORS
Advent IM Ltd
AfricInvest
Allen & Overy LLP
Emerging Capital Partners
Frontier Markets Fund Managers
FTI Consulting
Global Risk Management Advisors
Minter Ellison
Neal, Gerber & Eisenberg LLP
Overseas Private Investment Corporation (OPIC)
Pepper Hamilton LLP
Pinsent Masons LLP
Ropes & Gray LLP