Economic turbulence is throwing up opportunities for emerging market-focused private equity funds to make investments at favourable prices, but capital-constrained LPs are urging caution.
In light of Duke Street’s recent run in with the UK Pensions Regulator, buyout firms face the prospect of being forced to make up pension shortfalls, write Richard Garvan and Andrew Patten.
The public pension has committed to Carlyle’s fourth Asian growth fund, Welsh Carson’s 11th buyout fund, First Reserve’s 12th energy fund and Clessidra's second Italy-focused fund. Together these four funds are targeting more than $22bn.
The German and US alternative investment manager is joining forces with Cukierman & Co, an Israeli investment banking group, to launch a €200m private equity fund. Cukierman is also pursuing hydroelectric infrastructure projects in Georgia.
Existing LPs have committed $3bn toward the latest buyout fund from the MENASA-focused firm, which has just purchased a controlling stake in the Karachi Electric Supply Company for an estimated price of $400m.
Permira partner Veronica Eng has said ‘any manager worth its salt’ is taking a hard look at its portfolio companies and carefully broaching new investments amid today’s unprecedented financial climate. Phoenix CFO Steve Darrington, meanwhile, expects unsettled investors to flock to smaller managers.
The Bahrain-headquartered investment firm has hired former Morley Fund managing director and Morgan Stanley executive James Tanner as its placement chief, a role previously filled by retiring Investcorp veteran Zahid Zakiuddin.
The European private equity firm has backed the management buyout of LEXSI, a French provider of IT security services, for an undisclosed amount.
The charitable foundation of Jeremy Coller, founder of UK secondaries firm Coller Capital, has made a ‘multi-million pound’ commitment to help create a private equity education and research institute at London Business School.
Having passed the halfway mark on fundraising for its new Pan-African fund, its largest ever focused on the region, the mid-market investor is hoping to have invested between $80m and $100m by the end of the year.
The Dallas, Texas-based firm’s third fund surpassed its $600m target after six months of fundraising.
The asset management arm of Dutch banking group Rabobank is raising its second fund of funds dedicated to responsible investing and outperforming ‘mainstream private equity’.
As British bank Barclays snaps up Lehman’s core investment banking businesses, the fate of the bankrupt bank’s investment management division including its private equity and real estate portfolio has yet to be sealed.
The London- and Paris-based secondaries shop has closed its latest fund and is looking forward to the ‘attractive opportunity’ for the secondaries market caused by credit market dislocation.
The Central and Eastern Europe-focused private equity firm has raised €100m from investors including the George Kaiser Family Foundation for tech investments in Poland and other countries in the region.