THE ANNUAL REVIEW 2010 - PEI Media

More documents

Recommendations

Info

page 46 private equity annual review 2010 invested in companies located throughout Europe, but made its debut deal in Spain in August 2010, acquiring Madrid-based independent toymaker Famosa for an estimated €100 million. It also backed V&D, the largest department store chain in the Netherlands, and La Place, a foodservice provider that operates both standalone locations and stores within V&D. Kalb: turning around “I do believe that we’re at the bottom European companies of the cycle … this is a good point in which to be picking up assets,” Kalb told PEI in September. Sun Europe’s 25-person team focuses on leveraged buyouts, equity, debt and other investments in companies with €30 million to €3 billion in sales. Mezzanine FIRm of THE YEAR 1. ICG Group 2. Partners Group 3. KKR Asset Management ICG managing director Tom Attwood told PEI in January 2010 that the mezzanine firm’s 20-year track record of 20 percent compound returns – along with reportedly returning more cash to LPs than it was spending pre-credit crisis – were prime factors in helping it to survive the most volatile market conditions in its history. It appears the firm has not just survived the crisis and its aftermath, but continues to thrive. As of December 2010, 70 percent of its portfolio companies were performing at or above prior year levels, with Attwood: confident in ICG’s future improvements in EBITDA and revenue pointing to a continuing “downward trend” in impairments ICG has taken over the past year-and-a-half, according to an interim management statement. ICG also surpassed its €1 billion target for the ICG Recovery Fund, which it began raising in 2008 to target the more than €240bn in European buyout-related debt that will mature in the next two to six years. That fund, alongside the ICG European Fund 2006, in August acquired a €1.4 billion loan portfolio from the Royal Bank of Scotland. The firm also began expanding into other asset classes, purchasing a 51 percent stake in Longbow Real Estate Capital, which provides mezzanine and debt financing to the UK property market. Limited partner of THE YEAR 1. ATP Private Equity Partners 2. Wellcome Trust 3. SL Capital Partners Denmark’s ATP Private Equity Partners has been one of the most consistent private equity investors in the market over the last decade. The fund of funds generally commits €500 million to €1 billion a year, and looks for funds that aren’t too flashy. In fact, midmarket funds that are operationally focused and sector specific are more likely to win a commitment from ATP PEP. The fund of funds is exclusively supported by the €70 billion Danish pensions system ATP and manages €6.9 billion. In 2010, ATP PEP closed its fourth fund of funds on €1 billion with plans to double its allocation to emerging markets assets and seek larger stakes in existing managers. Even a consistent investor like ATP PEP slowed down activities in the downturn, however. In 2009, the fund of funds committed just €142 million, well below average investments of €400 million to €600 million pre-2008, though the fund of funds expects to ramp up commitments this year. Direct/co-INVESTOR of THE YEAR 1. Partners Group 2. AlpInvest Partners 3. Morgan Stanley Zug, Switzerland-headquartered Partners Group spent time last year beefing up its direct investment capabilities, having added around 20 staff to its direct investment team since 2009, which now numbers more than 120 people. Early in the year, Partners closed a €537 million global fund of funds, which it indicated was likely to make a number of direct investments in both distressed companies in need of restructuring as well as in SMEs with moderate leverage. It went on in September to close the “Partners Group Direct Investments 2009” on its €650 million hard-cap, its largest direct investment fund ever. At the time of the final close, the fund had already made 19 investments and was showing a positive net performance. Among the co-investments already made were Kaffee Partner, a supplier of commercial coffee provisions and drinks dispensers in Germany backed by Capvis, and Oasis Dental, backed by Duke Street. The fund has also already made at least one exit, having listed China Forestry, a forestry plantation operator, after holding the business for six months.
MIDDLE EAST FORUM 2011 HOW PRIVATE EQUITY WILL DRIVE GROWTH IN A POST CRISIS MENA 11-12 April | The Jumeirah Emirates Towers, Dubai Having established itself as the destination meeting place for the most senior industry practitioners, investors, officials and advisors, this year’s forum is inviting this community to help map the contribution private equity can make to the economic evolution of the region and beyond. Key themes to be discussed at this year’s event include: - What role can private capital play in the MENA region? - Learn about the hottest strategy in MENA PE: SME, early stage and growth investing - Find out where MENA fits in the emerging markets allocation of a global portfolio - What to do with all the dry powder; can all the money be put to work? World class speakers include: www.peimedia.com/me11 Book your place today: Online www.peimedia.com/me11 Email tereza.l@peimedia.com Phone +44 (0) 20 7566 5445
Page 1 and 2: THE ANNUAL REVIEW 2010 PE portfolio
Page 3 and 4: private equity annual review 2010 p
Page 5 and 6: Passion for achievement. www.mvisio
Page 7 and 8: 1119 The answer, my friend, is blow
Page 9 and 10: Actis is a private equity investor
Page 11 and 12: ENGINEERING SUCCESS Kuwait Pakistan
Page 13 and 14: page 10 private equity annual revie
Page 15 and 16: This announcement appears as a matt
Page 18: page 16 private equity annual revie
Page 23 and 24: INSIDE THE LIMITED PARTNER A COMPEN
Page 31 and 32: 10 Ten Top Years for Clifford Chanc
Page 33 and 34: Alex Cho Investment Solutions Asia,
Page 35 and 36: Winners Equity 2001, 2002, 2003, 20
Page 37 and 38: www.capvis.com 2010 Thank you! For
Page 72 and 73: Capital purSuit! Putting the fun ba
Page 78 and 79: Lexington Partners is a leader and
Page 80: page 78 private equity annual revie
Page 91 and 92: 2010 North America themes 90 First
Page 99 and 100:
private equity annual review 2010 p
Page 101 and 102:
2010 Europe themes private equity a
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Gimv is a listed investment company
Page 109 and 110:
2010 Emerging markets themes 108 As
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 122 and 123:
page 120 private equity annual revi
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Page 130:
show all

THE ANNUAL REVIEW 2010 - PEI Media

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?