THE ANNUAL REVIEW 2010 - PEI Media

More documents

Recommendations

Info

page 68 private equity annual review 2010 s e c t i o n h e a d e r m i n i h e a d e r s Title here 69 The year in fundraising 70 Capital Pursuit Intro 73 in here In the money 74 Outlook: Fund administration 75 Banking on it 80 Cash back 81 Terms tug of war 82 The year of regulation 84 Regulations on the horizon 87 Slim pickings 2010 Global themes ILPA to introduce reporting standards Some foreign GPs to face US registration Distressed fundraising drops 87%, secondaries soar 201% Oregon slashes re-up to Centerbridge by $100m Conversus: Distributions Asian appetite to aid secondaries surge like it’s 2007 LPs stay committed, focus on fees PE returns positive for fifth straight quarter Private equity rounds off year of recovery Lexington buys Lloyds’ £470m PE portfolio KKR reacquaints itself with Del Monte Lone Star revises targets on funds to $4bn each Private equity-backed buyouts still chasing 2007 peak CalPERS does away with traditional asset allocations Private equity spends record amounts in October Canadian PE ‘needs more foreign investment’ Investors in ‘steady march’ to alternatives SEC approves ban on unregistered placement agents Oaktree, Angelo Gordon to take over Zell’s Tribune Managers eye ‘emerging’ LPs for fundraising LPs demand focus on operations AIFM ‘third country’ threat stirs wide concern
private equity annual review 2010 pa g e 69 f u n d r a i s i n g m i n i h e a d e r s Title in here Intro in here The year in fundraising Fundraising in 2010 was not for the faint of heart, but a number of firms came to market with some ambitious targets. Graham Winfrey reports China: the focus of many significant marketing efforts january In January, The Carlyle Group signed a memorandum of understanding with the Beijing Municipal Bureau of Financial Work to set up an RMB fund in the Chinese capital. Carlyle was the first foreign firm to act on pilot measures introduced by the Beijing government at the beginning of the year to attract foreign private equity firms to Beijing’s Zhong Guan Cun area, often referred to as China’s Silicon Valley. Carlyle’s fund is a pure RMB fund, raising capital from domestic limited partners in China. Though no details on the size of the fund were disclosed, a report carried by Bloomberg cited Chinese media reports that the firm was seeking to raise RMB 5 billion (€539 million; $732 million). The fund is Carlyle’s second RMB fund; the firm set up a smaller RMB fund to make growth capital investments in early 2009. march AXA Private Equity began pre-marketing its €1 billion-plus infrastructure fund in March. At the time, the firm had a total of €1.3 billion in infrastructure assets under management across two funds. Fund III follows the same strategy as its two predecessors, focusing on investments in core infrastructure investments across Europe, in France, Italy, Germany and the UK. Also in March, Advent International came to market with its fifth Latin American fund, targeting about $1.5 billion for investments primarily in Mexico, Brazil and Argentina. The firm closed its fourth Latin American fund on $1.3 billion in 2007. Advent received several commitments to the fund from US pensions, including the Washington State Investment Board and the Pennsylvania State Employees’ Retirement System. The firm has been working in Latin America since 1996. may JMI Equity came to market in May with its seventh growth equity fund targeting $800 million. By the end of November, Fund VII had closed on $875 million, with existing limited partner relationships accounting for about 85 percent of commitments, a person with knowledge of the fundraising told PEI. JMI did not use a placement agent for the fundraising. july Kohlberg Kravis Roberts joined Carlyle on the increasing list of Western private equity firms setting up China-focused funds in July. The firm is currently raising capital for a fund focused solely on Chinese opportunities, targeting “around” $1 billion, sources said. The fund is KKR’s first country-specific vehicle, having in the past raised regionally and sector-focused funds. KKR is already an active investor in China, making investments in the country from its $4 billion pan-Asian fund that closed in 2007. august In August, TPG Capital launched its first and second RMBdenominated funds, each with RMB5 billion (€579.7 million; $735.5 million) targets. “I believe the growth of Western China will be the defining Continued on p. 72 →
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 21 and 22: This announcement appears as a matt
Page 23 and 24: INSIDE THE LIMITED PARTNER A COMPEN
Page 25 and 26: This announcement appears as a matt
Page 27 and 28: private equity annual review 2010 p
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 40 and 41: page 38 private equity annual revie
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 101 and 102: 2010 Europe themes private equity a
Page 107 and 108: Gimv is a listed investment company
Page 109 and 110: 2010 Emerging markets themes 108 As
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

Create successful ePaper yourself

Delete template?

Save as template?