Fundraising

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

THE ATTRACTION OF REIT STRUCTURES TO PRIVATE EQUITY IS MORE ABOUT TAXES THAN REAL ESTATE.

BLACKSTONE'S MAMMOTH NEW FUND FEATURES A LOWERED PREFERRED RETURN

CVCA'S NEW PRESIDENT IS UNIQUELY QUALIFIED TO ADDRESS THE INDUSTRY'S MOST PRESSING NEEDS: ATTRACTING INSTITUTIONAL INVESTORS AND PROMOTING KEY PUBLIC POLICY INITIATIVES.

BEHIND THE SCENES, CALPERS WORKED ALL THE ANGLES TO GET THE RECENT CALIFORNIA PUBLIC RECORDS LAW SIGNED

Private placement memoranda should never contain or omit language that, in retrospect and with perfect hindsight, can provide fodder for disgruntled LPs looking for a basis to make a legal claim. By Michael Lawson and Matthew Judd