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Newsletter content - Issue 34609 May 2008
Morgan Stanley Private Equity hires two for European team
Fri, 09 May 2008, 06:00 PrivateEquitywire Jean-Philippe Barade and Alasdair Thomson are joining Morgan Stanley Private Equity in London as executive directors, becoming part of a team focused on leveraged buyouts, corporate divestitures, sponsored recapitalisations, joint ventures and other direct investments in Europe.
Hedgemedia's AltInvestment Global News Round-Up: Arx Investment's Dwight Sipprelle calls it a day
Fri, 09 May 2008, 05:55 PrivateEquitywire Star manager Dwight Sipprelle is winding down his USD1.2bn global credit fund and retiring from active money management. The founder of New York-based Arx Investment Management, who previously spent 16 years at Morgan Stanley, plans to shut down the Arx Global High Yield Master Securities Fund, which has gained 150 per cent since its launch in February 2002, by June 30. His brother and fellow Morgan Stanley alumnus, Scott Sipprelle, shut down his own firm Copper Arch late last year.
Questions of rent tactics by private equity
Fri, 09 May 2008, 01:11 New York Times Private investment firms have been amassing what may seem like unusual stakes in New York real estate: they have bought hundreds of apartment buildings with thousands of rent-regulated units across the city that produce decidedly meager returns. As regulatory filings and promotional materials show, the companies expect to generate higher returns quickly by increasing rents after existing tenants vacate their units. Their success depends upon far higher vacancy rates than are typical in rent-regulated apartments in New York. Some residents and tenant advocates say that they began seeing what they consider a pattern of harassment of low-income tenants this year and suspect that it is a result of the new owners' business models.
USD1.4 billion raised for new Lime Rock private equity fund
Thu, 08 May 2008, 22:30 Blogging Buyouts An interesting fund raise just closed today in the global energy sector. Lime Rock is a private equity firm that focuses on the global energy sector, and it announced today the closing of its fifth Lime Rock Partners fund, Lime Rock Partners V, LP, with a total USD1.4 billion in investor capital commitments. Lime Rock has four predecessor Lime Rock Partners funds, and Lime Rock Partners V will make what it calls "creative, value-adding, and long-term growth capital investments" in companies in the global energy industry.
American Capital Strategies opens second Boston office, expands sponsor finance group
Thu, 08 May 2008, 21:15 AltAssets American Capital Strategies has opened a second office in the Boston area to expand its sponsor finance group's investment activities. The new office will be led by Tim Robinson, who the firm has appointed as a principal. In his new role, he will be joined by David Morris as vice president and Dan Hodges as associate.
Guernsey is great for private equity, says Alchemy's Moulton
Thu, 08 May 2008, 20:44 PrivateEquitywire Guernsey is a great place to do business, according to Jon Moulton, founder and managing partner of private equity firm Alchemy Partners, who has made his home on the island and sang its praises to more than 100 fund industry practitioner at last week's inaugural Guernsey Private Equity Funds Masterclass in London. "I recommend any of you to use Guernsey for private equity - it works," he exhorted.
Cerberus Capital is planning long-term approach to China
Thu, 08 May 2008, 20:06 Financial News Cerberus Capital Management, the private-equity firm, is taking a gradual approach to investing in China, but also hopes to attract outbound investment from Chinese companies or funds, its chairman said. "We're taking a patient, long-term approach to China," John Snow, the former US Treasury Secretary who became Cerberus's chairman in 2006, said in an interview Wednesday. "We want to understand the investment climate... [and] we want to get known" in China before starting to invest. Other big private-equity investors have been active in China for years, such as Carlyle Group and TPG, which have done deals worth hundreds of millions of dollars.
LGV appoints Ivan Heywood as chief executive
Thu, 08 May 2008, 19:36 Alt Assets UK mid-market buy-out firm LGV Capital has appointed Ivan Heywood as its new chief executive. Heywood will succeed Adrian Johnson, who has been chief executive of the firm since July 2000.
Sameer Gandhi joins Accel Partners
Thu, 08 May 2008, 18:08 Alt Assets Silicon Valley venture capital firm Accel Partners has appointed former Sequoia Capital partner Sameer Gandhi as a partner in its Palo Alto office. In his new role, Gandhi will focus on the consumer internet and the software sectors, according to the firm.
Promotional feature - Attend the world's largest global alternatives event With over 600 end investors, asset allocators and asset managers guaranteed
Thu, 01 May 2008, 16:23 PrivateEquitywire Now in its 14th successful year, the flagship GAIM International is undoubtedly the world's biggest and most senior gathering of alternative investment players - no fewer than 1,200 delegates attended the 2007 event for an incredible week of targeted direct networking, new deals, fresh ideas, and hot-of-the-press learning: hard benefits which last all year.
The changing face of private equity
Thu, 08 May 2008, 17:07 CNNMoney What a difference a year makes for private equity. About this time last year, the industry was inking deals at a dizzying pace and raking in massive profits, making it the hottest game on Wall Street. While private equity shops are still raising massive amounts of money, tight credit market conditions are forcing large buyout shops to rethink the business model that brought them so much success in years past.
Time to move on? Post your CVs on jobs.hedgemedia.com
Thu, 08 May 2008, 16:55 PrivateEquitywire Hedgemedia.com is the world's largest portal for jobs in the alternative investments sector - hedge funds, private equity funds and real estate funds - at http://jobs.hedgemedia.com
PERE magazine unveils 30 largest private equity real estate firms
Thu, 08 May 2008, 14:53 Earth Times The Blackstone Group and Morgan Stanley Real Estate are the two largest private equity real estate firms in the world, according to the PERE 30, a new ranking of private equity real estate firms produced by PERE magazine. Together, Blackstone and Morgan Stanley have raised more than USD36 billion in private equity real estate direct-investment capital over the past five years. In aggregate, the firms of the PERE 30 have raised more than USD190 billion in private equity real estate direct-investment capital over the same period from January 2003 to mid-April, 2008.
Survey shows SA private equity growth
Thu, 08 May 2008, 13:54 AllAfrica.com Despite the turbulence in the global financial markets, the appetite for private equity opportunities in SA continued to grow relative to the mature markets overseas, an industry survey has revealed. The Southern African Venture Capital and Private Equity Association (Savca) and KPMG said in a survey released yesterday that private equity investment in SA grew a huge 250% to ZAR25bn last year, from ZAR7bn in 2006.
Wealthy investors favour private equity
Thu, 08 May 2008, 12:01 Euromoney Institutional Investor Well-known high net worth individuals have benefited from putting their surpluses into private equity/venture capital funds early, reports Sify.com. Wipro chairman Azim Premji is said to have a personal fortune of over $400 million. His family office, Azim Premji Investments, manages this, channeling a portion directly into companies, both public and private, and investing some indirectly through private equity funds. Nadathur S Raghavan, co-founder and former joint managing director of Infosys Technologies (he quit Infosys in 2000), founded Nadathur Holdings to invest into and nurture early stage companies.
Carlyle ramps up activity in India
Thu, 08 May 2008, 11:24 Euromoney Institutional Investor Carlyle Group has appointed Devinjit Singh, the former head of mergers and acquisitions in India for Citigroup, to help the Washington firm increase its presence India, The Wall Street Journal reports. Foreign firms have said they covet the contacts and home-market knowledge of local firms, such as ICICI in India, and CDH Investments in China. India has surpassed China in terms of dollars spent so far this year, despite the tougher deal environment everywhere. Private-equity firms have invested approximately USD701.1 million there this year, down from USD1.09 billion for the same period last year, according to Thomson Reuters. In China, private equity has deployed around USD512.4 million in deals.
Columbia consortium buys GTS
Thu, 08 May 2008, 11:01 Euromoney Institutional Investor A private equity consortium led by Columbia Capital has acquired 100% of telecom service operator GTS Central Europe from Group Menatep Limited, reports Alt Assets. Financial details of the transaction were not disclosed. The consortium also consists of M/C Venture Partners, Innova Capital, HarbourVest Partners, Oak Investment Partners, and Bessemer Venture Partners.
Leading private equity figure endorses Guernsey
Thu, 08 May 2008, 10:48 Mondaq Guernsey is a great place to do business according to Jon Moulton, the Founder and Managing Partner of Alchemy Partners. Mr Moulton, who now lives in the Island, was the keynote speaker at the Guernsey Private Equity Funds Masterclass in London. More than 100 funds industry practitioners attended the event last Thursday which was held in The Gallery at Old Billingsgate. "I recommend any of you to use Guernsey for private equity - it works," he said.
Carlyle private equity to acquire controlling stake in Greek Neochimiki
Thu, 08 May 2008, 08:55 Forbes/Thomson Financial Private equity fund Carlyle Group is set to acquire a controlling stake in Greek chemical company Neochimiki SA, sources close to the matter said to Thomson Financial News. The sources explained that the main shareholder, Lavrentis Lavrentiadis, and other stakeholders have agreed with the fund to sell their 67 percent stakes of Neochimiki at 19 euros per share. Carlyle is likely to de-list Neochimiki from the Athens Stock Exchange so the sources expect it will launch a public offer for the whole of the company.
Private equity firms charging more
Thu, 08 May 2008, 08:27 Financial News Private equity firms are charging investors more for managing their investments and giving them back less of the fees they charge to their portfolio companies. With investors focusing on gaining access to the best-performing buyout funds, fee structures have shifted in favor of the private equity firms, according to the London-based research group Private Equity Intelligence (Preqin). The group's annual report on private equity's terms and conditions for funds around the world provides a benchmark for fees charged by buyout groups. The trend is that the top end of the industry is making more from management fees than it was four years ago despite investor unease over fund terms and fee arrangements.  click here to access the full jobs board
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SIFMA's Hedge Funds & Alternative Investments Summit & Exposition
Mon, 16 Jun 2008 16 - 17 June 2008 This summit and exposition offers advanced workshops geared towards regulatory, compliance, operational, and risk officers. This conference will address the current business, operational, legal and compliance issues impacting the hedge fund and sell-side communities while offering the largest networking opportunity available. Have you been to this event before? Click here to rate it.
GAIM International 2008
Tue, 17 Jun 2008 17 - 19 June 2008 - Monaco Gaim Guarantees 60% End Investors, Allocators And Asset Managers The World's Largest Gathering Of The Global Alternative Investment Community • The World's Largest Global Alternatives Event With Over 600 end Investors, Asset Allocators and Asset Managers Guaranteed • New: The Gaim International CapIntro Alliance With Six of the World's Major Brokers • The Most Extensive Range Of Direct Networking Formats for Asset Managers & Investors Ever Now in its 14th successful year, the flagship GAIM International is undoubtedly the world's biggest and most senior gathering of alternative investment players - no fewer than 1,200 delegates attended the 2007 event for an incredible week of targeted direct networking, new deals, fresh ideas, and hot-of-the-press learning: hard benefits which last all year. Percentages are calculated from 1 rating(s).
Have you been to this event before? Click here to rate it.
5th Renewable Energy Finance Forum, Wall Street
Wed, 18 Jun 2008 18 - 19 June 2008 - New York On its 5th anniversary REFF - Wall Street will build on the enormous success of the fourth where over 700 leading financiers, developers and investors gathered at the Waldorf=Astoria Hotel. REFF - Wall Street will once again bring together a high profile speaker panel dedicated to the financing of RE projects and companies. This must attend event will assemble the financial community to identify the major opportunities and issues facing US and European investors into the US Renewables market. Have you been to this event before? Click here to rate it.
Investment Opportunity in Indonesia
Thu, 19 Jun 2008 19 - 20 June 2008 To provide an environment where international investors can be reassured of the necessary protection they sought and opportunities for stable, attractive returns on investment within the improving business and legal environment of Indonesia through free and uninhibited exchange of information on Indonesian government's policies in project financing investment. Have you been to this event before? Click here to rate it. Full events timetable Unsubscribe from this newsletter. |
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