Fundraising

The limited partner advisory board provides a conduit between a fund manager and its investors. But with LP hands tied by limited liability concerns, are these boards less than they're cracked up to be? By Andy Thomson, Associate Editor

Since its spin off from ING, Baring Private Equity International has pursued a unique mix of global branding and decentralization, strengthening the firm's foothold in some of the world's fastest growing markets. By Judy Kuan, Associate Editor

US INVESTMENT BANK HARRIS WILLIAMS WILL BE BOUGHT BY PNC FINANCIAL, BUT THE INTERMEDIARY MIDDLE MARKET REMAINS HIGHLY FRAGMENTED

A NEW TAX POLICY IN CANADA'S LARGEST PROVINCE LEVELS THE PLAYING FIELD FOR TRADITIONAL VENTURE CAPITAL FUNDS

?What forms of investor communications are strictly electronic?? 2005-09-01 Staff Writer <bold>John DiBello,</bold>General Partner, COO and CFO US Operations, TVM, Boston:<br /><br />Several years ago, TVM began distributing its quarterly reports in electronic form. Investors are sent

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.

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

A NEW RULING COULD ASSIST THE DEVELOPMENT OF PRIVATE EQUITY INVESTMENTS IN UK-LISTED COMPANIES

Advent International was established in 1984 and since then has invested in more than 500 companies in 35 countries across Western and Central Europe, North America, Latin America and Asia Pacific. Since inception, the firm has raised more than $6 billion in capital and closed its most recent global buyout fund in April this year with commitments of €2.5 billion ($3.3 billion). Tom Lauer came on board in 1987 with no experience in private equity. He has overseen the financial dimension of Advent's transition from a small venture firm to today's global, multi-fund manager that boasts over 100 investment professionals of 19 nationalities in 14 offices and 13 countries. With responsibility for the financial management of the firm's worldwide operations and a member of Advent's Executive Committee, he describes the highs and lows, challenges and opportunities that have marked his almost two decades as a CFO in private equity.

A GP's departure from a private equity firm isn't as simple as handing in a letter of resignation – carry, non-compete and track record issues can often become sticking points when it's time to move on. By Art Janik, Associate Editor