September 2018 Issue
2017 delivered good news for the private equity (PE) industry overall – a year of increasing investment, strong exit markets, attractive returns and significant fundraising activity. Indeed, the appetite of limited partners (LPs) to support the assets class has pushed PE funds raised over the past five years to an unprecedented $3 trillion. Yet challenges remain. Deal count has dropped substantially since 2014 and multiples are at all-time highs, with around half of all companies acquired priced in excess of 11 times earnings before EBITDA. So, in this environment, how can funds generate the attractive returns LPs expect? In response, the PE industry has continued to evolve and is continuing to scout for deals to absorb the record amount of dry powder raised in recent years. The PE industry is, if nothing else, resilient.
FORUM: Digital disruption in the private equity industry
FW moderates a discussion on digital disruption in the private equity industry between Alasdair Redmond at Intuitus Limited, Jon Tanner at MitchelLake Group, and Kush Jhawar at Warburg Pincus.
Private equity dynamics in 2018
Debevoise & Plimpton LLP Given how 2018 started – changes brought by the Tax Cuts and Jobs Act (TCJA), implementation of the revised Markets in Financial Instruments Directive (MiFID II), and with M&A and fund financing on fire – it is no surprise that the first half of the year...
Outlook for private equity in 2023
Preqin It is perhaps a cliché to say that ‘alternative’ assets is a title that no longer fits the private equity (PE) industry, but it is true nonetheless. Four out of five institutional investors now invest in at least one alternative asset class, and more than half invest in three...
Private capital: the crossover between private equity and private wealth
Charles Russell Speechlys LLP Private capital is a term that is being used more and more often to describe the crossover between capital provided by private equity (PE), venture and growth capital investors, and private wealth investment by high-net-worth individuals (HNWIs) and family offices...
Finch Capital Partners Over the past decade, venture capital hotpots have become more diversified. These developments bring opportunities as well as challenges to investors. Countries that were seen as economically or politically unstable are now becoming more and more attractive...
Overview of the PE industry in France
Villechenon The private equity (PE) industry in France appears to be in particularly good health. 2017 was an exceptional year of growth for capital invested in France, whether in terms of funds raised, amounts invested or the number of transactions. This growth trend continued...
Brazilian PE favourable despite election uncertainty
Demarest Advogados Brazil’s private equity (PE) industry had a very positive year in 2017, and began 2018 with more positive news around capital raises and deal activity. The challenge ahead is to maintain the 2017 deal activity in the second half of 2018, during the election...
Private equity trends in Indonesia
Ali Budiardjo, Nugroho, Reksodiputro (ABNR) Indonesia has become one of the most interesting places to invest for private equity (PE), despite complicated bureaucracy and the uncertainty of laws and regulations. The hot trend for PE is investing in technology companies. The most popular industries...
CONTRIBUTORS
Ali Budiardjo, Nugroho, Reksodiputro (ABNR)
Charles Russell Speechlys LLP
Debevoise & Plimpton LLP
Demarest Advogados
Finch Capital Partners
Intuitus Limited
MitchelLake Group
Preqin
Villechenon
Warburg Pincus