--- Connecting LPs & GPs worldwide
--- Connecting LPs & GPs worldwide
20 February 2012
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31 January 2012
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15 December 2011
Following its recent restructuring, Alan MacKay is guiding investment group Hermes GPE towards an increased focus on co-investment and infrastructure, reflecting a more hands-on approach to its private markets portfolio.
The incubating and spinning out of a subsidiary from a parent company is a challenge in the mid-market private equity space, but despite recent challenges, the opportunities are still there. 
Less than two years ago India stood proud as the darling of the emerging market investor’s portfolio, briefly overtaking China in terms of deal activity. But a lack of exits and the comparative performance of its East Asian neighbour have left many LPs disappointed, and questions are being raised as to whether the returns justify the risks. 
Activity in Canada’s venture capital market grew in 2011, reaching its highest level in four years, though still substantially below the level recorded in 2007. However, the industry’s ability to meet strongly rising demand is threatened by continued weakness on the fundraising front. 
The Volcker Rule, set to come into effect in July, is already having an impact as banks divest themselves of their private equity interests, writes Jeremy Hocter 
Private equity is growing up as an asset class. Adulthood may be less fun, but makes life more predictable. There is even a reasonable chance that in 2012 a private equity manager, Mitt Romney, will be elected president of the US. Private equity has now become mainstream. 
Venture capital investing looks to be in the midst of a revival and change, with Wall Street taking a new found appetite for venture-backed technology companies. 
Eased by improved macroeconomic conditions, political stability, microeconomic reforms and investment in the continent’s infrastructure and manufacturing sector from China, Africa is reaping the dividends of rising demand for commodities and increasing food consumption, most notably from its fast-growing BRIC neighbours. 
Private equity GPs are increasingly aware that the strength of their brand is key to accessing capital and deals. The question they need to ask themselves is: how do we make our brand stand out in an ever-competitive marketplace? 
The European Venture Capital Association has warned that proposed new pension fund regulation under Solvency II could lead pension funds to flee from long-term growth asset classes such as infrastructure and private equity, thereby seriously impeding investment in long-term growth. 
Although the European sovereign debt crisis will leave lasting effects on the hedge fund secondary market, the outlook for private equity secondaries is more stable, according to Lars Lindqvist, founder and CEO of specialist alternatives broker Cattegatt Capital. 
