Fundraising

The bank, which inherited the placement agent business following its merger with Merrill Lynch, will use a smaller team to manage its current clients, but will not take on any new clients.

In a ‘sign of the times’ PEI’s second annual Private Equity Leader award has gone to Jeremy Coller, whose firm manages one of the largest pools of capital in the secondaries market.

For many months before the US became gripped by the unfolding scandal involving disreputable fundraising go-betweens, the most reputable placement agents have been working to adapt their model. Here, PERE takes a look at the wider issues affecting the industry. PERE June 2009

As the spectre of LP defaults looms larger, Guy Hands'Terra Firma has attempted to get ahead of the issue by buying out LPs from its 2007 fund.

GPs establishing debt and infrastructure funds must decide how to treat interest and other income in the partnership.

MAOS is the firm’s third investment in Asia and its first add-on for Shinsouki, a Japanese parking lot operator it acquired last year. The investment was made from its debut Asia fund, which is targeting a $100m final close.

Swiss alternatives firm Capital Dynamics will augment its fund of funds platform by assuming management of HRJ’s $2bn in assets. The US fund of funds was reportedly burned by its over-commitment strategy last year, causing it to breach debt covenants and seek secondary sales.

Fresh from raising nearly €1bn for its eighth mid-cap fund, the French private equity firm is aligning itself to take advantage of market dislocation. It is also raising its third small-cap fund.

Before LPs begin questioning the amount of management fees they pay, GPs should be proactive in addressing their concerns

Gwyneth Ketterer has left the firm and plans to teach a class at Columbia Business School