The Riverside Companyhas made a name for itself in the smaller end of the middle market. The private equity firm invests in multiple industry sectors, typically targeting companies valued between $10 million and $100 million. The firm today manages approximately $1.3 billion in capital and last year closed a $750 million fund, The Riverside Capital Appreciation Fund ‘03. Since 1988, the firm has invested in 112 transactions with a total value of $2.1 billion, and currently counts 38 separate businesses in its portfolio. Its growth over the years has included branching out not only to different parts of the US, but also Europe-today, Riverside operates out of six offices, outside its New York and Cleveland headquarters, in Dallas, San Francisco, Budapest, Prague, Warsaw and Munich. Such a large and complex organization obviously requires a high level of administrative oversight, which is spearheaded by a dedicated chief administrative officer. Leslie Hardin shares her thoughts on running a multi-office, multi-country private equity operation.
Recruiting and retaining talent for the finance function is becoming increasingly challenging, as private equity firms encounter greater competition from hedge funds and from within their own industry. By Art Janik, Associate Editor
New GIPS standards take effect on January 1,2006. The CFA Institute has compiled a list of answers to commonly asked questions regarding these revised standards, some of which are excerpted below. Source:CFA Institute Centre for Financial Market Integrity.
As private equity becomes more mainstream, investors are calling for self-regulated standards for performance presentation. On your next investor questionnaire, how will you answer the question, “Are you GIPS compliant?” By Carol Kennedy
What are those on the frontline of European private equity saying about the state of fund administration and technology?
Limited partners love state-of-the-art fund administration systems, but what is there for GPs to love? Quite simply, the opportunity to appear competitive. By Colm Gilmore
A leading executive-search pro shares her insights into what motivates top executive talent to take the private equity leap. By Fran Minogue
The traditional duties of corporate board members in the US have been reinterpreted in recent time to take on more urgent, proactive meanings. Whereas in the past, board members were held to ?hear no evil, see no evil? standards, recent scandals, legislation and court decisions have meant that outside directors must now take pains not only to respond to wrongdoing when it is detected, but to establish systems that will detect problems, as well as to spend more time engaged in actively scouring their companies for signs of trouble. Legal experts often organize the various duties of board members into ?duties.?
General partners who serve on corporate boards must carefully monitor their time, actions and communications in today's more dangerous regulatory environment. By David Snow, Editor
Israeli companies, which have always had a natural affinity with the US, are now setting their sights on the growth markets of the East. Tel Aviv-based Vertex Venture Capital is among those leading the charge into Asia. By Andy Thomson, Associate Editor