The beleaguered Australian infrastructure specialist is reviewing Babcock & Brown Capital, a move that follows its purchase of another satellite fund’s management rights and highlights the difficulties the satellite fund model has faced in the wake of the global credit crisis.
Continued keen interest in Asian private equity on the part of institutional investors has kept fund of funds managers very busy. But as economic growth weakens and capital deployment slows, the future holds some interesting challenges. Siddharth Poddar reports.
In today's secondaries market, many different sellers have many different motivations. By David Snow.
With valuations proving a point of contention between would-be vendors and acquirers, sales of private equity portfolios to secondary buyers have been relatively subdued in recent months. But the need to free up capital means action will have to be taken sooner rather than later - and that's why secondaries specialists believe a highly productive period lies ahead. Andy Thomson reports.
Strong appetite for a new fund of funds included investors looking to switch out of larger funds and into the mid-market.
The beleaguered Australian infrastructure specialist is reviewing Babcock & Brown Capital, a move that follows its purchase of another satellite fund’s management rights and highlights the difficulties the satellite fund model has faced in the wake of the global credit crisis.
The $72.3bn US pension joins a raft of North American funds recording losses for the year to June 30. Once again real estate was the best performing asset class returning 8.74%, followed by fixed income and private equity.
The head of JC Flowers has reportedly established a fund under his personal control – a possible solution to stringent US bank holding company regulations.
The publicly traded Canadian buyout firm expects to hold a final close on its third mega-fund in early 2009. CEO Gerald Schwartz has said despite having done no deals in the second quarter, Onex sees attractive opportunities and is not discouraged by credit conditions.
The private equity firm’s credit subsidiary, GSO Capital Partners, has closed its most recent mezzanine fund as demand for subordinated debt remains strong. The unit has also raised four CLOs and purchased $7.8bn in leveraged loans.