Secondaries

David Snow ponders what a proposed US banking rule would mean for captive private equity and private equity real estate firms.

The London headquartered buyout firm is likely to target almost €6bn for a fundraising this year – a similar size to its 2005 fund.

The 23-year veteran of the private equity industry has emerged at the fund of funds and advisory firm following his departure from SVG last year.

Several heated contests have emerged in The Private Equity International Awards 2009, including a close fight for top European mid-market firm between Advent, Bridgepoint, Silverfleet and Electra.

Bids that came in for the private equity stakes were not ‘on par with the value of the assets’, the endowment’s CEO John Powers told PEO in an interview.

Which firms and deals are going to top our annual reader poll for 2009? You tell us.

A survey by the European industry body, INREV, revealed funds of funds managers invested just €75m in the first nine months of 2009 – down from €2.2bn in 2007. Secondaries, though, will be more important in 2010.

PCG Asset Management would run the programme, which would target original commitments of between $5m and $20m.

In an unusual proposition, the Chinese sovereign wealth fund is offering liquidity to LPs in the €11.2bn Apax Europe VII.

There has been little clarity to the US real estate markets in the past year, however things have started to change. At the recent Urban Land Institute conference in San Francisco, PERE assembled a cross-section of industry professionals to gauge their thoughts on the state of the market and the future for private equity real estate. PERE magazine December 2009-January 2010 issue.