Chicago-based GTCR has one of the most prolific heritages in all of private equity, dating back to the 1980s. As the firm begins to deploy its tenth and largest fund, chairman Bruce Rauner is in the process of handing over leadership to the next generation of principals. Graham Winfrey meets Phil Canfield and Collin Roche, two of the three heirs to the throne.
Does the sovereign debt crisis represent a clear and present danger to the future of European private equity? Or is it creating the most promising market conditions in 20 years? It depends who you ask, writes James Taylor
Daniel Sherman is leaving DLA Piper to join Greenberg Traurig’s Atlanta office, where he will focus on public-private partnerships and infrastructure deals.
At a public meeting last week, the San Diego Association of Governments presented two options for financing the $345m purchase of the South Bay Expressway. Residents and local officials showed nearly-unanimous support for the acquisition of the privately developed toll road.
The Dallas-based private equity real estate giant prevails alongside Wells Fargo and JPMorgan Chase & Co with winning bids for the 248-strong US real estate loans portfolio.
Private equity managers can strategically execute “Material Adverse Change” clauses to renegotiate deals in their favour –though doing so brings significant reputational risk.
Current market dislocation could present opportunities for private equity funds and investors, says Juan Delgado Moreira, managing director and head of Europe and Asia for Hamilton Lane.
The country’s Privatisation Administration is looking for a private partner to operate and maintain some 2,000km of roads – including Istanbul’s two suspension bridges, which are said to comprise up to 80% of the deal’s total value. Interested bidders will have to post a $200m bond to participate.
Fundraising by firms targeting emerging markets is accelerating, says trade body EMPEA, which predicts the total will reach $40bn by year end, almost double the $23.5bn raised in the whole of 2010.
Managers raising Euro-denominated infrastructure funds are anxious about prospects in the aftermath of the Eurozone’s dramatic summer.