Fundraising

Hedge funds must now register as investment advisers. Are private equity funds next?

As private equity continues to draw capital, investors are keenly interested in measuring the asset class' performance history and are calling for self-regulated reporting standards among private equity firms. In France, direct funds and fund of funds manager AXA Private Equity is the first to be awarded GIPS (Global Investment Performance Standards) certification. Instrumental to AXA's adoption of the GIPS reporting standards has been Marie-Lys Halloppé, head of the firm's administration and finance department. Since joining the AXA group in 1982, Halloppé has led the firm's financial communications, portfolio valuations and private equity performance audit functions. Private Equity Manager recently spoke with Marie-Lys Halloppé about AXA's adoption of GIPS and the expected impact of adhering to these standards on the firm's activities.

Political giving is good, but the road to bad publicity and regulatory change is often paved with well intentioned campaign contributions. By David Snow

As the wins and losses of private equity become more visible to - and influenced by - the public eye, GP firms are finding more reasons for keeping a communications crisis management strategy on hand. By Judy Kuan

The management company advisory board is, to some, a vital aid to entering new markets, but to others an unnecessary luxury. By Andy Thomson

When a new private equity firm is born, a new back office system needs to grow up alongside it. Australia's Ironbridge Capital found this to be ‘extremely complex.’ By Andy Thomson

RAISING ELEVATION PARTNERS' DEBUT FUND INVOLVED HELPING LPS GET COMFORTABLE WITH A ROCK STAR.

Since joining Sydney-based buyout firm CHAMP Private Equity as CFO in October 2001, Barry Zuckerman has had a big impact on Down Under private equity. He was instrumental in the introduction of new valuation and reporting guidelines by the Australian Venture Capital Association (AVCAL), and also played a key role when CHAMP raised its latest A$750 million ($568 million; €468 million) buyout fund earlier this year. Early in his career, Zuckerman had spells in the audit divisions of Ernst & Young and PricewaterhouseCoopers before joining Howard Group, an Australian Stock Exchange-listed fund manager and finance company, in 1992 as CFO and company secretary. In 1998, when Howard Group was taken over by Challenger International Limited, a boutique fund manager, Zuckerman became CFO of the combined entity. Over the next three years, the group acquired 13 businesses and grew its staff numbers from 30 to 750. Zuckerman recently spoke with Private Equity Manager about the initiatives he has undertaken, the challenges he has faced and the business structure he has helped build at one of Australia's leading private equity operations.

Deal attribution can be a tricky undertaking, especially if GPs who spin out do not have the support of their former sponsor institutions. By Judy Kuan

INDUSTRY FRONTLINE 2005-11-01 Staff Writer Joly joins ProbitasGlobal placement agent Probitas Partners has added Francois Joly to its team as a director. Joly, formerly a senior member of the investment team at Caisse de Depot et Placement du Quebec, has 15 years' experience of