The recession has sure changed the landscape of private equity.
Ullman: Today, we’re going to talk about the top 10 changes to the private equity industry following the Great Recession. First up is increased regulatory and public scrutiny.
Rubenstein: Following the Great Recession, the government in the United States and governments in other countries looked at private equity and other types of financial industry management and they did toughen up regulation and toughen up oversight. For many smaller firms, that is a difficult burden. For a firm of the size of ours, we can handle [that] regulatory oversight.
Posted in Private Equity
Tagged alternative asset, asset allocation, Great Recession, high net-worth, India, Institutional Investors, Middle East, pension funds, Private Equity, regulation, Rubenstein, Southeast Asia, sovereign wealth funds, Ullman
Federal regulators approved new rules on Thursday to shine a light on Wall Street trading, though with a crucial caveat
Ben Protess from NY Times reports that federal regulators approved new rules on Thursday to shine a light on Wall Street trading, but they also softened a crucial aspect of the plan in the face of lobbying pressure from the nation’s biggest banks.
In a long-awaited vote to tackle an essential cause of the 2008 financial crisis, the Commodity Futures Trading Commission voted to adopt an overhaul of the derivatives market, pushing the risky trading from the shadows of Wall Street into the light of trading platforms. For decades, such trading has eluded regulators and the public.
Posted in Derivatives, Regulation
Tagged American International Group, asset managers, Bart Chilton, Commodity Futures Trading Commission, Derivatives, Dodd-Frank Act, Gary Gensler, Hedge Funds, Jill E. Sommers, Mark P. Wetjen, market liquidity, Securities Industry and Financial Markets Association, swap execution facilities, systemic risk, Wall Street
PE Firms Taking Profits Off the Table
The private-equity industry is taking its profits in this market rally.
As some top PE executives have made clear this year, it is time to sell off the fruits of their labor, including some of the biggest deals reached at the boom time.
“It’s almost biblical: there’s a time to reap and there’s a time to sow,” Apollo Global’s Leon Black said last month. “We are harvesting now.”
Posted in Private Equity
Tagged Apollo Global, Asset Management, Bain Capital, Blackstone Group, Bloomin Brands, Bruce Karsh, Carlyle Group, Catterton, Dealogic, Dow Jones Industrial Average, Howard Marks, Leon Black, Nielsen Holdings, Oaktree Capital Group, Outback Steakhouse, PE, Private Equity, Sensata Technologies, Wesco Aircraft
Chinese investor Fosun International and AXA Private Equity will team up with Club Med management to take over the company at $17euro per share.
Reuters reports that Club Mediterranee’s top shareholders plan to take over the French holiday firm in a bid that values it at around 541 million euros ($700 million), to accelerate its shift to fast-growing emerging markets.
Chinese investor Fosun International and AXA Private Equity said on Monday they would team up with management to offer 17 euros a share for the stock they do not already own – a 23 percent premium to Friday’s closing price.
Posted in China, emerging market, European economy, Private Equity
Tagged AXA Private Equity, Christian Jimenez, Club Med, Club Mediterranee, Diamant Bleu Gestion fund, Dominique Gaillard, emerging markets, European economy, euros, Fosun International, France, Henri Giscard d'Estaing, holiday resort, Hong Kong, Michel Wolfovski, Net debt, Paris, Thomas Cook, TUI Travel, Valery Giscard d'Estaing
The consensus among investors and entrepreneurs in Brazil is that the short term will be difficult, but that long-term prospects remain highly favorable.
Brazil’s Internet start-ups were once the darlings of emerging markets, attracting venture capitalists from around the world. But after two-plus years of growth, the sector is facing tougher times, reports Vinod Sreeharsha from NY Times.
Numerous young companies, even those with prominent investors, are struggling to show sustainable profitability despite early rapid growth in revenue. A case in point: Shoes4You, an e-commerce site selling designer footwear, decided to close down last month, despite being backed by the prominent United States investment firms Redpoint Ventures, Accel Partners and Flybridge Capital Partners.
Posted in emerging market, Equity Markets, Venture Capital
Tagged Accel Partners, Brazil, Fabrice Grinda, Flybridge Capital Partners, Founders Forum, Geofusion, IG Expansion, Intel Capital, Jeff Brody, Jose Marin, Kaszek Ventures, Kevin Efrusy, Monashees Capital, Olivier Grinda, Redpoint Ventures, San Francisco, Shoes4You, Silicon Valley, start-ups, venture capitalists
“You will never see as many great women investors or traders as men. Period. End of story,” said billionaire Paul Tudor Jones
Maureen Farrell reports from CNN Money: Leaning in may work for women in the world of tech. But if you’re a woman who wants to balance trading and a family, one hedge fund manager says that’s not possible.
“You will never see as many great women investors or traders as men. Period. End of story,” said billionaire Paul Tudor Jones at the University of Virginia’s spring investing symposium last month.
Posted in Events, Hedge Funds, Opinion
Tagged Blue Ridge Capital, Freedom of Information Act, global traders, hedge fund, John Griffin, Julian Robertson, Paul Tudor Jones, The Washington Post, Tiger Management, Tudor Investments, University of Virginia
Hedge funds soon will be allowed to advertise their wares to potential clients.
Dan Primack from CNN reports that hedge funds soon will be allowed to advertise their wares to potential clients, thanks to a provision in last year’s JOBS Act (which had no direct relation to actual jobs). As will private equity funds, venture capital funds and other alternative investment vehicles that heretofore were prohibited from general solicitation.