While fund managers have been busy raising distressed property vehicles, the bitter pill to swallow is that some LPs are unable to allocate equity to such funds at the moment, according to research by a prominent private equity real estate expert.
The $147bn pension has responded to the denominator effect by increasing the amount it is allowed to invest in private equity to 15% of total assets. CalSTRS has similarly bumped its real estate allocation.
The San Francisco- and Hong Kong-based firm has closed its second fund $100m higher than its initial target, but slightly shy of the $1bn close anticipated. The fund will focus on fund investments in China, Japan, Korea and India.
Amid $649m in third quarter write-downs for KPE – the largest related to a co-investment in the $45bn TXU buyout – the private equity firm has said the restructuring of the Euronext-listed vehicle will come next year.
Amid $649m in third quarter write-downs for KPE – the largest related to a co-investment in the $45bn TXU buyout – the private equity firm has said the restructuring of the Euronext-listed vehicle will come next year.
The San Francisco- and Hong Kong-based firm has closed its second fund $100m higher than its initial target, but slightly shy of the $1bn close anticipated. The fund will focus on fund investments in China, Japan, Korea and India.
As a result of the financial crisis, investors may focus even more closely on the quality of GP reporting. And that's good news for private equity administration specialists in Asia, Andy Thomson discovers.
The repercussions of the financial turmoil will be profound, say Roberto Paganoni and Ivan Vercoutere of Swiss private equity and hedge fund manager LGT Capital Partners. But does this mean some sort of doomsday reckoning for private equity? Far from it, they insist: the asset class may even emerge from a testing period with its reputation enhanced. By Andy Thomson
After the tech bubble burst in 2000, VC funds shrank dramatically – and so did their management companies. Both venture and buyout firms may now have to take a page out of that textbook as fundraising slows to a crawl. By Jennifer Harris
Credit woes finally strike Asia, as a handful of big-ticket private equity deals are scrapped