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December 2018/January 2019 Issue
NewSpring’s CFO on the evolution of fundraising
NewSpring Capital’s Jon Schwartz believes his core priority as president and COO is handling all the institutional responsibilities, so the deal team can focus on generating returns.
Blockchain and private equity: a marriage made in heaven?
Some PE firms like Partners Group are making practical use of the new technology. SGG’s Stuart Pinnington discusses potential benefits for managers in embracing it.
IFC’s COO on managing a global footprint
Ruth Horowitz, deputy CEO and COO for the asset management arm of the International Finance Corporation, tells pfm how following best practice and outsourcing where needed has helped it manage growth over the last decade.
Fund administration in a post-Abraaj world
GPs and fund administrators are strengthening their long-term relationships to ensure private equity firms’ operations are up to investors’ standards.
CVC’s compliance head on ‘intense’ exams
Raju Hussain explains how he keeps the $70bn firm on the right side of its many regulators and how he guided it through three exams.
How a small firm can tap into big firm best practice
Communicating with other executives helps to stay on top of advances in compliance and operations, New Heritage Capital COO and CCO Nickie Norris says.
Regulatory issues in marketing PE funds
The ways in which the SEC applies the law on advertising are constantly evolving, say Jason Brown, Eva Carman and Caitlin Giaimo of Ropes & Gray.
New valuation guidance: the key takeaways
The working draft from the AICPA task force focuses on best practice for measuring the fair value of portfolio companies, writes Christopher LaDue, a principal at RSM.
Why infra is ripe for disruption
Simon Gordon, Philip Hendy, Fèmy Mouftaou and Wouter Plantenga of JTC look at the opportunities available as the infrastructure market evolves.
Why investors should carefully evaluate new valuation metrics
Community-adjusted EBITDA is being used to justify sky-high valuations. There are good reasons for skepticism, says Anthony Alfonso of BDO.
The march toward standardization
ILPA’s Jennifer Choi and Peter Rosenstein, principal at Gen II Fund Services, discuss the challenges and opportunities of private equity data.
Ireland’s flexible fund structure
The ICAV fund structure in Ireland has been around since 2015, but alternative asset firms are only just discovering its wide range of benefits. Harold Adrion and Patterson Chiweshe of EisnerAmper describe its attractions.
Four letters that spell responsibility
The Senior Managers and Certification Regime will revamp the structure and culture of private equity firms in many ways, valuations being one
Private debt recognized as asset class separate to PE by IPEV
In the latest draft amendments to its valuation guidelines, the organization for the first time looks at debt investments in their own right and not just as part of private equity deals.
Ineffective GP-LP reporting ‘hurts’ private equity
Complexity, opacity and a lack of standardization have slowed efforts to improve reporting, a conference has heard.
Stapled deals: sweeteners that come in many flavours
As stapled deals evolve to take all shapes and sizes, GPs and their advisors must continue to disclose their effect on pricing to LPs.
Taking GP-leds to the masses
The increasing acceptance of GP-led deals has opened up opportunities in the smaller end of the market, but unique challenges arise when dealing with smaller funds.
The Abraaj fallout will be felt by all CFOs
Investor protections suggested by a former Abraaj insider will place more importance on the role of finance chief.