Secondaries

Contestant: Tim Smith, CFO, Coversus Capital, Charlotte, North Carolina. How does an LP value its new stake in a fund to which it already has a commitment, and which was purchased on the secondary market? How does the secondary purchase impact the carrying value of the LP's original fund investment?

A new alliance between Clifford Chance and top Indian law firm AZB comes as moves toward liberalisation of India's legal industry gain steam

Industry practitioners and corporate veterans want to fine-tune the leadership skills of charity chiefs

Guy Hands’ firm has avoided shrinking its €5.4bn third fund by buying out three cash-strapped LPs at ‘a small premium’.

Contestant: Susan Mangiero, Managing member, Business Valuation Analytics Member, National Association of Certified Valuation Analysts Not being too familiar with derivative instrument pricing and default risk analysis, a company hires an expert to investigate whether the swaps reflect a hedge versus a market bet and to further assess how the company should adjust the valuation of its equity stake. What does the expert need to look at and how should she arrive at an appropriate conclusion?

News on professional service providers to the private equity market.

Average high bids for private equity fund interests fell to 61% of NAV in the five months through November 2008, driven by stale holding values, according to Cogent Partners.

The Southern California-based private equity advisor will manage AMP’s Future Directions Private Equity Fund and act as the firm’s ‘exclusive’ partner in Australia and New Zealand.

Difficult times in the market can be an opportunity to solidify your reputation, with the right communication strategy. By Alexander Leventhal, Broadgate Communications

In the first in a two part series on debt buybacks, Steven Bortnick, Bradley Boericke and Timothy Leska explores the legal implications a private equity firm must consider when structuring the debt purchase. In our February issue, they will examine the tax implications