Rise of the Rooster
Chinese outbound M&A in 2017 and beyond
No longer an emerging market, China possesses supreme spending power and investors from the region are becoming increasingly sophisticated in their strategies. MVision’s ‘Rise of the Rooster’ report, research conducted with the London Business School which we are delighted to launch today, reveals the prospects that China presents for private equity, not just in terms of increased transaction volumes, but also in terms of funding.
Bregal Sagemount closes second fund at its $960 million hard cap
Begal Sagemount, a leading private equity firm focused on growth-oriented investments in both control and non-control situations, announced the first and final close of Bregal Sagemount II, LP (“Sagemount II”), at the hard cap with total commitments of $960 million. Sagemount II was oversubscribed and significantly exceeded the original $800 million target.
2017 Preqin Global Private Equity & Venture Capital Report - interview with Mounir Guen
MVision CEO, Mounir Guen, talks about a fast-changing environment for both investors and general partners, as well as predictions for the year ahead, in Preqin’s Global Private Equity & Venture Capital Report 2017, the most comprehensive review of the latest developments affecting the Private Equity industry.
Intera raises €250m for third fund
Intera Partners closed its third fund at €250m, with MVision acting as fundraising adviser, as reported in Real Deals.
Views From the Top
In the Private Equity News yearly outlook “Views From the Top”, Mounir Guen, CEO and founder of MVision, considered the key opportunities and challenges for the private equity industry, along with other industry executives who shared their thoughts on the upcoming year.
Responsible Investing: Why ESG matters to investors
Private Equity International examined how environmental, social and governance initiatives are becoming more important in a high price environment, as LPs call on GPs to boost the value of their companies through ESG initiatives. CEO and founder of MVision, was asked for his views on the investor perspective.
VIG Partners closes Fund III at $600 million
VIG Partners, a leading middle market buyout fund focused on Korea, announced today the final closing of VIG Partners Fund III at US$600 million. VIG exceeded its target of US$500 million with strong support from both existing and new investors.
2017 Preqin Global Infrastructure Report - Dennis Kwan's keynote address
Dennis Kwan gives the keynote address in Preqin’s 2017 Global Infrastructure Report where he highlights key trends in infrastructure fundraising, including increased interest in infrastructure from institutional investors and an increasing demand for emerging markets in the year ahead.
The New Paradigm:
A study into the GP perspective on the rise of direct investing
In July, MVision announced the findings of a survey conducted in collaboration with the London Business School, which revealed GPs’ views around the long term impact of direct investment from “Mega LPs”.
An article in Private Equity News examined the report and concluded that “Big changes may be years off, but growing numbers of private equity firms fear that the biggest LPs are coming after their lunch.”
Real Deals noted the removal of hurdle rates could be a potential factor in the increase in direct investment, and linked the finding to a recent Preqin report.
Perspectives 2017: MVision - keynote interview
Late in 2016, Private Equity International conducted an interview with Mounir Guen, CEO and founder of MVision, to glean his views on the opportunities and challenges awaiting the industry in 2017.
VIDEO :: What East Asia’s LPs are Bringing to the PE Table
MVision founder and CEO Mounir Guen discusses the potential pitfalls ahead for Asia’s institutional investors, in an environment where availability of capital from these big investors is expected to growing in the coming years.
Asia roundtable: Expect Chinese outbound M&A to grow
Dennis Kwan, Managing Director of our Hong Kong office, predicts the surge in overseas investments by Chinese buyers is set to continue, during a roundtable on Asia held by Private Equity International.
Co-investment: No longer a free lunch
Private Funds Management discusses the MVision survey results in its article on the rise of co-investment.
DACH managers benefiting from fundraising tailwinds
unquote” looked to examine the busy first half enjoyed by the DACH region – particularly in terms of fundraising. Amongst the industry observers invited to make sense of the trend was Mounir Guen.
VIDEO :: Japan’s PE Market Sees Change in the Air
The CEO of placement agent MVision discusses the evolution of private equity in Japan, including a more open deal market and growing interest among Japanese institutional investors for the asset class.
A Private Word With Mounir Guen
In June, MVision founder Mounir Guen sat down with WSJ to talk about the private equity industry, and his some of the lessons he has learnt from a career that has seen him work on over 300 funds.
The communicators: Investor relations in Asia
In response to increased reporting requirements and a challenging fundraising environment GPs in Asia are devoting more resources to investor relations. The AVCJ examines the challenges associated with finding the right IR approach.
Spotlight on Japan: Is the wait really over?
Experts from MVision, Advantage Partners, J-Star and Asia Alternatives discuss the current state of Japan’s private equity markets, and why the long wait for PE’s growth may be over.
MVision believes in the athletes of tomorrow
MVision the official title sponsor of the Hong Kong SUP League series held on 17 Apr 2016 at Sai Kung. Mounir Guen, CEO of MVision Private Equity Advisers, was on hand to help present trophies to the winners.
Private equity firms are raising the roof
Buyout firms are holding off setting their upper limits during fundraising, Private Equity News looks at the trend over the last 18 months for private equity firms to set their hard caps later in the fundraising process.
VIDEO :: How to make your pitch stand out
Differentiating your firm from the pack is essential in a crowded fundraising market. Experts Hussein Khalifa from MVision Private Equity Advisers and Jim Rutherfurd from Pine Brook Partners discuss best practices that help win over investors.
Startups of sustainable development
In early February the winners were chosen in an MVision sponsored competition at Dhaka University in Bangladesh to find the best and brightest ‘social entrepreneur’, a competition designed to encourage the students to demonstrate their entrepreneurial skills, and to find a venture that fulfilled the brief of ‘solving the world’s social issues in a sustainable way’. Out of more than 200 entries Humayan Kabir and Abdul Mannan won with MyDoctor, a micro-insurance programme that pays for the community’s healthcare, in exchange for the waste produced by the same community.
Made to measure: Customized co-investment
Mounir Guen discusses how advisors match up investment opportunities with LPs that have particular needs amid growing appetite for co-investment among foreign and local institutions in Asia.
Mounir Guen speaks at the HKVCA Asia Private Equity Forum 2016
Mounir Guen moderated the panel discussion of “What do limited partners want and expect from Asian private equity?”. Fellow panellists were Frank Su, Senior Principal, Private Equity, Investment Partnerships from CPPIB Asia Inc; Yong Hak Huh, Founder and CEO, First Bridge Strategy; and John Huo, Director, Private Equity, Manulife Financial.
Asia PE returns will rise as GP skills develop
Distributions from private equity funds in Asia, which have in the past been lackluster compared to those in certain developed markets, are expected to rise as the industry matures and GPs develop their skill sets, Mounir Guen, CEO of MVision, estimates there are 20 LPs globally with the ability to deploy capital…
Dennis Kwan’s keynote address in The 2016 Preqin Global Infrastructure Report
Dennis Kwan is interviewed for The 2016 Preqin Global Infrastructure Report. Dennis talks about the most important changes taking place in the infrastructure market today.
Mounir Guen’s keynote address in The 2016 Preqin Global Private Equity & Venture Capital Report
Mounir Guen is interviewed for The 2016 Preqin Global Private Equity & Venture Capital Report. He shares his thoughts on the past year in private equity fundraising, and shares his outlooks for the industry in 2016 and beyond.
VIDEO :: Which markets currently offer the most interesting opportunities?
Mounir Guen, Chief Executive Officer, MVision Private Equity Advisors joins SuperReturn Asia to discuss 'Which markets currently offer the most interesting opportunities?'
Social Entrepreneurship in Emerging Markets:
An Interview with MVision and Harmony Ventures
Next Generation of Firms Eye Debut Private Equity Funds
Private Equity News examine the emergence of new firms, taking advantage of the booming fundraising market. The article looks at recent examples, and gathers together the views of fundraising experts, including MVision CEO and founder Mounir Guen.
An EMPEA interview with Mounir Guen and Harmony Ventures’ founders Yassamin Issapour and Aymeric Pacton about the winner of a Dhaka Start-up Competition, MyDoctor, a micro health insurance program which uses garbage as a financial resource to create clinics staffed by local doctors and medical students to treat and support people in the Bangladesh community. MyDoctor was awarded the MVision Innovation Award for Social Entrepreneurship.
MVision hires Loren Boston
In July, MVision announced that Loren Boston, veteran fundraiser with more than 30 years of Wall Street experience, would be joining the New York office, working alongside the firm’s founders, Mounir Guen and Hussein Khalifa, and it’s regional heads.
Gender Balance in Business
Dutch firm Karmijn Kapitaal only invests in businesses run by both men and women – Real Deals examined this remarkable investment strategy, and looked at how the female-headed firm is adding value for its investors, and blazing a trail for an industry that is often accused of gender imbalance.
MVision sponsors the fourth HandsOn-Sabre Kowloon Community Fun Day for children with disabilities
Volunteers from MVision, HandsOn HK and Sabre Kowloon RFC welcomed the children to King’s Park on Sunday 29th May 2016. MVision also invited special guests to volunteer, including some of our GPs, LPs and their families.
EMPEA: Currency risk management survey
Mounir Guen, CEO of MVision Private Equity Advisers answers a series of questions that come up within a conversation regarding LP’s Perspectives on Hedging.
MVision hosts the London Business School MBA global business experience in Hong Kong 2016
In April, MVision hosted MBA students from London Business School who were visiting Hong Kong as part of their Global Business Experience. CEO Mounir Guen and Managing Director Dennis Kwan, gave a private equity lecture to some of the students in MVision’s Hong Kong offices.
Sharing the spoils
Mounir Guen comments in Real Deals on the increase in popularity of co-investment increases, and the pressure on GPs and LPs to find the best way to share deals around.
Mid-market funds rush back to fundraising trail
Mounir Guen, MVision Private Equity Advisers CEO, comments in Private Equity News on the rush of mid-market firms entering the fundraising market and how they need to prepare for success.
If we’ve got a dry powder problem, China has the solution
“Outside the United States and outside Europe, the only country that has $5 billion funds – or even $3.5 billion and above –is China… the absorption capability, and the dynamic, is quite extreme.” One of many insights shared by Mounir Guen’s on SuperReturnTV.
VIDEO :: PE trends to watch in 2016
In an interview by David Snow from Privcap, in 2015 there was a shift in power between the LPs and GPs, a high volume of fundraising and dealmaking, and some interesting trends in emerging markets and Australia. MVision Private Equity Adviser’s Mounir Guen breaks down some of those trends for Privcap.
Outlook 2016: Views from the top
At the beginning of 2016 Private Equity News asked some of the most industry’s most senior figures for their views on the challenges and opportunities they expected going into 2016.
MVision sponsors second HandsOn-Sabre Kowloon Community Fun Day for children with disabilities
To kick off the 2016/17 community activities, volunteers from MVision and Sabre Kowloon RFC welcomed 22 children to King’s Park on Saturday 16th January 2016. MVision also invited special guests to volunteer, including the Consul Generals of the US and New Zealand. The volunteers worked in small groups with the children while family and friends watched from the side-lines.
Sovereign wealth funds rise in private equity ranks
Sovereign wealth funds have overtaken private equity, Mounir Guen comments in Financial News on the impact this will have on the future of the industry.
Emergence of “mega LPs” expected to continue in 2016
At a roundtable conveyed by unquote“ MVision Private Equity Advisers CEO Mounir Guen discusses the sources of new capital coming into the private equity asset class.
VIDEO :: Why Foreign GPs Should Maintain a U.S. Presence
In an inverview by David Snow from Privcap, Fundraising experts from Abbott Capital Management, MVision, and BC Partners discuss the importance of relationship building for non-U.S. GPs, why they should always be thinking of their next fundraise, and ways for them to stand out in a competitive market.
Part of the Privcap 'Fundraising in the U.S.' video series.
MVision supports The Prince’s Trust “Get into Woodlands” programme
Run in partnership with The Duchy of Cornwall, Herefordshire College of Technology and the Forestry Commission, with sponsorship from MVision, The Prince’s Trust ‘Get Into Woodlands’ programme aims to encourage young people to pursue a career in sustainable forestry.
Read the full article
PEI Keynote interview with Mounir Guen
According to MVision Private Equity Advisers chief executive officer Mounir Guen, limited partners’ expectations of anticipated returns from the asset class started to converge during the global financial crisis, when a number of cosy assumptions were shattered.
Read the full article
Gilde Buy-Out Fund V closes at its hard cap of EUR 1.1 billion
Gilde Buy Out Partners, a leading mid-market private equity house in the Benelux and DACH regions, set the hard cap at EUR 1.1 billion consistent with its strategy, diversification targets and capacity to invest and manage its portfolio to deliver superior value to investors.
MVision sponsors the first Hong Kong International SUP Championship
MVision sponsored the first Hong Kong International SUP Championship on 29th Aug 2015 at Sai Kung. Michelle Paisley, Managing Director at MVision's Hong Kong office, was on hand to help present trophies to the winners.
MVision and MyBnk
MVision sponsored the MyBnk Summer Showcase at the House of Lords. The event that brought together young people, funders and supporters to celebrate the power of MyBnk's financial education and enterprise programmes.
Blue Colibri Capital Partners Closes Fund II with EUR 165 Million of Commitments
Blue Colibri, an independent real estate private equity firm that invests in opportunistic real estate in Europe announced the final closing of Blue Colibri Capital Partners II. Fund II exceeded its EUR 150 million target closing at its hard cap of EUR 165 million; the Fund was oversubscribed.
Read the full press release
FFL Closes Fourth Fund with More Than $2 Billion of Commitments
FFL, a leading San Francisco-based middle market private equity firm which manages over $4.0 billion of capital, today announced the completion of fundraising for FFL Capital Partners IV. The fund has equity commitments of over $2.0 billion, above the target of $1.5 billion.
Mounir Guen speaks at the 2015 LBS Private Equity Symposium in London
The Coller Institute of Private Equity at London Business School held its 8th Annual Symposium on 1st and 2nd June 2015 in London at Royal College of Physicians, London. Mounir Guen moderated a panel on PE Diversification: Geographic Focus or Global Footprint? along with speakers from AdventInternational, AlpInvest, Bridgepoint and EY.
EMPEA Middle East and Africa report: a conversation with Mounir Guen
The Special Report from EMPEA: Private Equity in the Middle East and North Africa provides a data-driven analysis of the broad range of private equity opportunities across the region. Within this report, Mounir Guen is interviewed on his outlook for the region.
Fundraising in the U.S. - a Privcap briefing
An executive summary of the Fundraising in the U.S. Privcap Video Series. Mounir Guen, alongside Richard Kunzer, Senior Partner of BC Partners and Mona Marquardt, Principal of Abbott Capital Management discuss what non-U.S. GPs need to know before coming to the U.S. to fundraise.
VIDEO :: Expert Q&A with Mounir Guen
An expert conversation with Mounir Guen, CEO of MVision. Part of the Privcap Fundraising in the U.S. video series.
A Masterclass in Private Equity
Mounir Guen, lecturing at the London Business School Private Equity Masterclass.
PEI keynote interview with Mounir Guen
Local private equity fundraising remains strong as many LPs eye domestic promise, but as pension fund coffers fill, they will start to look further afield for returns. Mounir Guen of MVision discusses the implications for the market.
Dennis Kwan's keynote address in The 2015 Preqin Global Infrastructure Report
Dennis Kwan is interviewed for the 2015 Preqin Global Alternatives Reports. Dennis talks about the key attractions for institutional investors as well as the biggest risks associated investing in infrastructure
Mounir Guen on government and industry regulators
A quote from an article in the January issue of Real Deals - Raise to the skies: European fundraising was in fine fettle in 2014, despite the continued vigilance of LPs. Mounir Guen shared his thoughts on the private equity landscape in Europe. (Note: Real Deals subscription required to read full article)
Moose Guen's keynote address in The 2015 Preqin Global Private Equity & Venture Capital Report
Moose Guen is interviewed for the 2015 Preqin Global Alternatives Reports. He shares his thoughts on the past year in private equity fundraising, and shares his outlooks for the industry in 2014 and beyond.
Mounir Guen on government and industry regulators
A quote from an article in the January issue of Real Deals - Under the lens: Governments and industry regulators alike have had private equity firmly in their crosshairs. Mounir Guen shared his thoughts on the continuing impact of AIFMD on private equity in Europe. (Note: Real Deals subscription required to read full article)
MVision Roundtable - The New Capital: how large investors influence Private Equity
The event will feature an expert private equity practitioner and academic panel. The roundtable debate will consider the requirements and influences very large private equity investors have, and the implication for general partners and the private equity industry as a whole. It will be moderated by Mounir Guen, Founder and CEO of MVision.
A Masterclass in Private Equity
Mounir Guen, lecturing at the London Business School Private Equity Masterclass.
MVision - HandsOn - Sabre Kowloon RFC Community Fun Day
Volunteers from MVision and Sabre Kowloon RFC welcomed 22 children to King’s Park on Saturday 17 October 2015 for a fun day of exercise and rugby practice. HandsOn Hong Kong partnered with Sabre Kowloon RFC and MVision to organise the event for the group, who attend special schools for children with mild intellectual disabilities.
Asia Roundtable: Weathering the storms
China’s volatile markets may dominate the headlines, but Matthew Goodburn meets some of Asia’s key players still finding opportunities in a region that is increasingly attractive. Dennis Kwan, Managing Director at fundraising adviser MVision Strategic (Asia) Ltd, gives his perspective.
EMPEA special report: Private Investing in the Power Sector in Emerging Markets
The power sector in emerging markets is increasingly on the radar screens of international investors. Mounir Guen, CEO of global placement agent MVision Private Equity Advisers, highlights that the characteristics of operational power assets that make them attractive in the first place may lead LPs to consider alternatives to the traditional fund model.
EMPEA India report: a conversation with Mounir Guen
The Special Report: Private Equity in India provides EMPEA’s first dedicated, in-depth examination of developments in India’s private equity ecosystem since 2010. Within this report, Mounir Guen is interviewed on his outlook for the region.
MVision Blue Sky Dragonboat team races to victory in Hong Kong
The MVision sponsored Blue Sky Dragon Boat team competed at the Sai Kung Dragon Boat Race on June 20th, coming away with four trophies, including Champions of the event
Tailwind Capital Closes Fund II with $1.05 Billion of Commitments
Tailwind Capital, a leading middle market private equity firm investing in growth-oriented companies in healthcare, business and communications services, announced today the final closing of Tailwind Capital Partners II, L.P. and associated funds. Fund II exceeded its $750 million target, raising a total of $1.05 billion of committed capital.
MVision hosts the London Business School MBA Global Business Experience in Hong Kong
MVision's Hong Kong team hosted students from the London Business School Global Business Experience. The week-long Global Business Experience trip is a program requirement for all London Business School MBA students, and focuses on examining all aspects of institutional and innovation challenges.
VIDEO :: How to Avoid Regulatory Complications
Three fundraising experts discuss the complications non-U.S. GPs can encounter with regulatory issues in the U.S. Also discussed are different laws from state-to-state and municipality-to-municipality, how to hire proper counsel, and why non-U.S. GPs should know their market.
Waterland announces closing of €1.55 billion for their sixth fund
Waterland Private Equity Investments is pleased to announce the closing of its sixth institutional fund, Waterland Private Equity Fund VI at €1.25 billion and WPEF VI Overflow Fund at €300 million, just three months after its initial launch.
VIDEO :: Mapping a Vast Fundraising Landscape
Three fundraising experts discuss why the U.S. has historically been a go-to market for non-U.S. private equity firms, the challenge and opportunity presented by a mere 50 percent re-up rate among LPs, and why being aware of hot topics among LPs is critical.
Mounir Guen on the European fund landscape
A quote from an article on PENews.com- The Year Ahead: European Funds to Keep Flowing. The article discusses the European landscape and how some limited partners face disappointment because smaller pool sizes and the ease of hitting targets could restrict their ability to place the cash. (Note: Private Equity News subscription required to read full article)
Nick Wall's keynote address in The 2015 Preqin Global Real Estate Report
Nick Wall is interviewed for the 2015 Preqin Global Real Estate Report. He discusses how he sees the fundraising market developing in 2015 and how that will affect real estate fund managers.
VIDEO :: Fundraising in the shadow of the financial crisis
Three PE fundraising experts discuss how they raise funds in the post-financial crisis era. With Gene Wolfson, Partner Investor Relations and Business Development at Catalyst Investors, Adam Blumenthal, Co-founder and Managing Partner at Blue Wolf Capital Partners and Mounir Guen, Chief Executive Officer at MVision.
First in a three-part series, 'The New Normal for Fundraising'.
MVision hosted its ninth annual roundtable discussion at LBS
Hosted by Professor Francesca Cornelli, Professor of Finance and Director of the Coller Institute at London Business School, the event debated the European PE status quo and how private equity contributes to the recovery of the European economy. The discussions also looked at where private equity can do better and what factors might support/impede this contribution. Mounir Guen took the stage with Januz Heath of Capital Dynamics, Hugh Langmuir of Cinven, Elias Papaioannou of London Business School and Dana Haimoff of JP Morgan.
MVision announces new hires in Hong Kong to lead company expansion in Asia-Pacific
MVision has today announced that it has made two senior hires for its Hong Kong office. Michelle Paisley and Dennis Kwan will join founder and CEO, Mounir Guen, who recently relocated to Hong Kong, to lead the firm’s expansion in the Asia-Pacific region.
Mounir Guen to relocate from London to Hong Kong
Mounir Guen, founder and CEO of MVision, is relocating from London to Hong Kong in order to lead the expansion of MVision’s business in the Asia Pacific region. This move will strengthen MVision’s ability to advise its global client base and advise on complex fundraising mandates.
VIDEO :: Which energy operators make good GPs?
LPs around the world have become attuned to the investment opportunities in North American energy, says Mounir Guen of MVision, and energy focused funds are almost guaranteed a meeting with investors. How can an energy operator make the jump to being a general partner and take advantage of the demand?
Spotlight on Australia - a Privcap Briefing
Nine experts offer their perspectives on the Australian private equity market.
Fundraising in Focus - a Privcap Briefing
An executive summary of the Privcap Thought Leadership Series Fundraising in Focus, in partnership with MVision.
Newbury Partners announces a $1.1 billion final closing for third private equity fund
Newbury Partners, a Stamford, Connecticut based secondary investment firm, is pleased to announce the final closing of Newbury Equity Partners III L.P. with over $1.1 billion of capital commitments. Fund III exceeded its $1 billion target and hard cap after launching in the summer of 2013.
MVision awarded Placement Agent of the Year in Asia for 2013
MVision is proud to have been named Private Equity International's Placement Agent of the Year in Asia for 2013. This is the first time MVision has won this category in Asia.
Mounir Guen on Middle East markets
A quote from an article on PENews.com - Middle East Markets Make a Comeback. The article discusses how confidence is returning to the Middle East after the global financial crisis but continuing political turmoil may undermine the newfound optimism. (Note: Private Equity News subscription required to read full article)
VIDEO :: The realities of raising capital
Gene Wolfson of Catalyst Investors, Adam Blumemthal of Blue Wolf Capital Partners and Mounir Guen of MVision discuss what happens behind-the-scenes on a fundraising.
Affinity exceeds hard cap with $3.8bn close
KY Tang's pan-Asian firm has closed its fourth private equity vehicle after 16 months in market.
Michaela Sved's keynote address in The 2014 Preqin Global Infrastructure Report
Michaela Sved is interviewed for the 2014 Preqin Global Alternatives Reports. With a record number of funds on the road, Michaela talks about how infrastructure managers can stand out from the crowd
Capvis announces closing of Capvis Equity IV on EUR 720 million
Capvis Equity Partners AG, a leading private equity in Switzerland, Germany and Austria, is pleased to announce the final closing of Capvis Equity IV with capital commitments of EUR 720 million. The Fund was oversubscribed, exceeding its target of EUR 600 million and reaching its hard cap.
Mounir Guen on first-time funds
A quote from an article on PENews.com - Window for First-Time Funds May Open a Little Wider in 2015. The article discusses how more private equity professionals may launch their own firms in the coming year as investors look for attractive places to commit their money amid stiff competition for allocations with established managers. (Note: Private Equity News subscription required to read full article)
VIDEO :: EMPEA 10th Anniversary Commemorative Video Series
EMPEA is celebrating its 10th anniversary by interviewing some of EMPEA's founding members for their reflections on where the industry began and predictions on what lies ahead. In Mounir Guen's interview, he talks about how even a relatively small amount of private capital can really move the needle in emerging markets and how EMPEA's role in the asset class will change over the next ten years.
Why Asia Still Matters - AVCJ Limited Partners' Summit 2014
At the 2014 AVCJ Forum in Hong Kong, Mounir Guen moderated a session at the Limited Partners Summit. The discussions centred on Why Asia Still Matters, with opinions from Faiz Mayalakkara of Emirates Investment Authority, David G Pierce of HQ Captial, Pamela Fung of Morgan Stanley Alternative Investment Partners, and Sherry Lin of Mousse Partners.
The Voice of the LP - a Privcap Briefing
Thought leadership on an evolving asset class, The Voice of the LP featuring experts from: Zurich Alternative Asset Management, Ardian, Korea Investment Corporation, Washington University Investment Management Co., Performance Equity and CEO Mounir Guen from MVision Private Equity Advisers.
Gulf Capital closes its heavily oversubscribed third private equity flagship fund at US$750 million
Gulf Capital, one of the most active and diversified alternative asset managers in the Gulf region, today announced the successful final closing of its third private equity fund, GC Equity Partners Fund III, at US$750 million.
MVision announces office opening in San Francisco
MVision has today announced that it has opened a new office in San Francisco. The office complements the firm’s long established New York office and strengthens the services the firm provides to current and prospective investors and managers in the region and globally.
VIDEO :: Australia in focus
Nikki Brown, Managing Director of MVision's Sydney office, discusses how offshore LPs are increasingly engaging with Australia, as they seek a stable, secure way to gain access to the Asia Pacific region.
ICV Partners completes Fund III with $400 million of capital
ICV Partners (ICV), a leading investment firm focused on lower middle market companies, announced today that it has successfully completed the final closing for ICV Partners III, L.P. with $400 million of committed capital.
Mounir Guen risks extreme cold, polar bears for North Pole trip
The hardest thing about traveling to the North Pole is keeping your hands warm, according to Mounir Guen, the founder and CEO of placement agent MVision. Guen, who spoke exclusively to peHUB about the expedition, traveled to the North Pole earlier this month along with his two adult children.
VIDEO :: What it costs to build a fund
Three PE leaders discuss how much a GP should expect to spend raising a fund. With Gene Wolfson of Catalyst Investors, Adam Blumenthal of Blue Wolf Capital Partners (both of whom recently completed fundraisings), and Mounir Guen of MVision, which counts 60 percent of its clients as first-time funds.
Russia and CIS focused private equity fund Elbrus Capital II reaches hard cap of US$550 million
Elbrus Capital, a leading private equity business in Russia and the CIS, is pleased to announce the final closing of Elbrus Capital Fund II with capital commitments of US$550 million. The Fund was oversubscribed, exceeding its target of US$500 million and reaching its hard cap. Additionally, the Fund secured US$150 million financing from the Overseas Private Investment Corporation (OPIC), which will bring the total available capital for Fund investments to US$700 million upon finalization of legal documentation later this year.
Moose Guen's keynote address in The 2014 Preqin Global Private Equity Report
Moose Guen is interviewed for the 2014 Preqin Global Alternatives Reports. He shares his thoughts on the past year in private equity fundraising, and shares his outlooks for the industry in 2014 and beyond.
Nick Wall's keynote address in The 2014 Preqin Global Real Estate Report
Nick Wall is interviewed for the 2014 Preqin Global Alternatives Reports. He discusses how he sees the fundraising market developing in 2014 and how that will affect real estate fund managers.
VIDEO :: Wanted: Emerging Managers With Vision
What ingredients do emerging managers need to succeed at raising a fund? It all starts with passion, followed by track record, team and the proven ability to find and finance deals – even if you have to use “shoestring, bubblegum and bandages". David Snow from Privcap interviews Moose Guen, Lina Russo and Hussein Khalifa and Gulf Capital's Muhannad Qubbaj.
VIDEO :: SuperReturn Global Series - First Time Funds
Moose Guen is interviewed by Simon Thornton of PEARonline from SuperReturn Paris 2013.
Nexxus Capital announces a $550 million final closing for sixth private equity fund
Nexxus Capital S.A. de C.V., the Mexico-based private equity firm, is pleased to announce the final closing of its sixth institutional private equity fund, Nexxus Capital VI, with capital commitments of $500 million. The Fund was oversubscribed, significantly exceeding its original target of $400 million.
VIDEO :: How to Fundraise With a Challenged Track Record
So you’ve got a blow up in your portfolio – does this mean game over for your next fundraise? It depends. Moose Guen, Lina Russo and Hussein Khalifa discuss with Muhannad Qubbaj from Gulf Capital.
KV Asia Capital announces closing of Fund I on US$263 million
KV Asia Capital, the Singapore headquartered private equity firm focused on making significant equity investments in quality mid-sized companies in South East Asia, today announced the US$263 million final closing of its first fund, KV Asia Capital Fund I
Nexus Group raises $600 million for NG Capital Partners II, L.P.
Nexus Group, a pioneer of private equity in Peru, is pleased to announce that its second institutional fund, NG Capital Partners II, L.P., held its final closing on April 26th. NG reached the Fund’s hard cap of $600 million, exceeding its $500 million fundraising target.
Anchorage announces closing of Anchorage Capital Partners Fund II on A$250 million
Anchorage Capital Partners, the Sydney based private equity firm focusing on special situations and turnaround investment in the Australian, New Zealand and Southeast Asian markets, today announced the A$250 million first and final closing of Anchorage Capital Partners II.
MVision supports The Prince's Trust Woodlands course
Twelve unemployed young people completed a Get into course with The Prince's Trust on the Duchy of Cornwall's Hereford Estate. The programme allowed the young people to gain practical experience and important qualifications, and developed their confidence, motivation and skills in forestry.
VIDEO :: New Rule No. 1 - Expect everything to be more difficult
Privcap CEO and Founder David Snow talks to Mounir Guen of MVision, John Greenwood of Pantheon Ventures and Russell Steenberg of Blackrock Private Equity Partners about the New Rules of the Private Equity Fundraising Market. In New Rule No. 1 they talk about how everything is now harder, further, longer and costlier and what that means for Private Equity Fundraising.
VIDEO :: New Rule No. 2 - Demonstrate Deep Insight
Rule 2 of 5 in the New Rules of the Private Equity Fundraising Market. David Snow, Mounir Guen, John Greenwood and Russell Steenberg discuss why GPs must demonstrate value-add insight in order to win LP commitments in a new fundraising market.
VIDEO :: New Rule No. 3 - The Fund As You Know It Will Not Be Your Next Fund
Rule 3 of 5 in the New Rules of the Private Equity Fundraising Market. David Snow, Mounir Guen, John Greenwood and Russell Steenberg talk about the fact that the LP agreement itself has morphed.
VIDEO :: New Rule No. 4 - Cash-on-Cash Has Maximum Cachet
Rule 4 of 5 in the New Rules of the Private Equity Fundraising Market. David Snow, Mounir Guen, John Greenwood and Russell Steenberg talk about how in today’s fundraising market there is “more confusion than ever” around private equity valuations. Hence the cachet of solid cash-on-cash performance figures from GPs.
VIDEO :: New Rule No. 5 - The Infuencers Are More Influential Than Ever
Rule 5 of 5 in the New Rules of the Private Equity Fundraising Market. David Snow, Mounir Guen, John Greenwood and Russell Steenberg discuss how LPs who might invest in your fund have more substantial influence over other LPs who might invest and how it's important that the influencers like you.
Nordic Capital Fund VIII closes with EUR 3.5 billion in committed capital
Nordic Capital announces the close of Nordic Capital Fund VIII at its hard cap of EUR 3.5 billion. Investor demand exceeded the Fund target by nearly 30%.
MVision hosted its eighth annual roundtable discussion at LBS
Mounir Guen took the stage with Hiro Mizuno of Coller Capital, Grant Lee of PwC, Chris Young of the Bank of England and Francesca Cornelli from LBS for MVision's annual roundtable discussion. This year's subject was Quantitative Easing Reduction and Regulatory Pressures - Outlook For Private Equity in Developed Markets.
VIDEO :: Adding Strategies, Expanding the GP Franchise
Many GPs who see success in one strategy become eager to expand their firms by raising new funds in new strategies. But how do they convince their LPs that this is the right move, that it doesn’t amount to that dreaded term: asset gathering. Moose Guen, Lina Russo and Hussein Khalifa from MVision and Muhannad Qubbaj from Gulf Capital share their expert views.
VIDEO :: Expert Q&A with Lina Russo
Lina describes what is unique about the way that MVision approaches the fundraising market.
Trive Capital raises $300 million for debut fund
Trive Capital Holdings, LLC, a Dallas, Texas based investment firm, is pleased to announce the final closing of Trive Capital Fund I LP ith $300 million of capital commitments. Fund I reached its hard-cap in five months and was substantially oversubscribed from its initial $250 million target.
VIDEO :: A Move Back to Mega Funds
Economic buoyancy will bring an increasing focus on very large private equity firms, which have substantial operating resources and an indifference to capital structure, according to Mounir Guen of MVison Private Equity Advisers.
MVision supports The EMPEA Fundraising Masterclass
Mounir Guen and Lina Russo took the stage at The EMPEA Fundraising Masterclass - an opportunity for fund managers to gain practical insight from emerging markets private equity's largest investors
MVision opens an office in Sydney, Australia
Mounir Guen, CEO of MVision said, “We believe our Sydney office will allow us to not only reach investors and managers in the Asia Pacific region more effectively, but also better serve our existing client base in conjunction with our current Hong Kong operations.
VIDEO :: Expert Q&A with Mounir Guen
Mounir Guen, Founder and CEO of MVision talks about how passion and clarity of vision makes MVision unique.
VIDEO :: Fundraisers Face Invasive Due Diligence
Three experts review the types of data requests LPs are now making as part of the fundraising due diligence process. With Matthew Pedley, Principal at The Blackstone Group, Pawan Chaturverdi, Partner at Altius Associates, and Jennifer Cho Rinehart, Managing Partner at MVision Private Equity Advisers.
Encore Consumer Capital successfully closes its second fund, exceeding target fund size
Encore Consumer Capital, a consumer goods focused private equity firm, has closed its second fund with $211 million of commitments, exceeding its target fund size of $200 million.
Equis Funds Group announces a US$647 million final closing
Equis Funds Group, a pan-Asian independent fund manager focused on Asian energy and infrastructure, has announced the final closing of its first fund, Equis Asia Fund I at US$647 million, exceeding the firm’s US$500 million fundraising target.
Southern Bridge Capital closes SBC Latin America Housing Fund at USD 150m
Southern Bridge Capital is pleased to announce the final closing of the SBC Latin America Housing Fund with total commitments of USD 150 million.
BLG Capital closes fund at EUR 142.35m
BLG Capital Ltd. is pleased to announce the final closing of BLG Turkish Real Estate Fund LP with total commitments of EUR 142,350,000.
VIDEO :: Expert Q&A with Jennifer Cho Rinehart
MVision Managing Partner Jennifer Cho Rinehart discusses how her firm helps GPs raise first-time funds, why MVision has a keen interest in this kind of client, and the questions LPs ask about the first-time funds.
Is the train leaving the station for Chinese GPs?
China remains the preferred emerging market for LPs – but are local managers doing enough to get the right investors on board? By Niklas Amundsson
VIDEO :: In Search of Growth
Peter Von Lehe of Neuberger Berman, Hussein Khalifa of MVision and Michael Elio of ILPA discuss changing LP appetites, including the limits of macroeconomic growth in driving returns, the need for managers to create alpha, and more.
VIDEO :: Culling the GPs
Peter Von Lehe of Neuberger Berman, Hussein Khalifa of MVision and Michael Elio of ILPA discuss the reasons behind, and consequences of, the LP desire for fewer GPs in the portfolio.
WEBINAR :: Fundraising Outlook 2013
Private equity is fueled by investor capital, and many private equity GPs will need more of this in 2013 in order to survive. But what will the fundraising market look like, who will raise capital, why, and from which sources?
VIDEO :: Deep Diligence in the Portfolio
Best practices in conducting and facilitating portfolio-level due diligence. With Pawan Chaturverdi, a Partner at Altius Associates, Matthew Pedley, a Principal at The Blackstone Group, and Jennifer Cho Rinehart, a Managing Partner at MVision.
VIDEO :: Track Records and Transitions
Transparency in fundraising – a discussion among three experts who share their insights into the importance of individual and team track record due diligence, especially when there is a change at the firm – a retiring founder, a spin-out, a transition of any sort. Matthew Pedley of The Blackstone Group, Pawan Chaturverdi of Altius Associates, and Jennifer Cho Rinehart of MVision notes.
CHAMP Ventures closes fund at A$475m
CHAMP Ventures, the lower mid-market specialists of the CHAMP Group, has announced the final closing of its seventh fund oversubscribed at A$475 million, exceeding its targeted ‘hard cap’ of A$450 million.
Capital International Private Equity Funds (CIPEF) closes $3.0 billion global emerging markets fund
Oversubscribed fund exceeds $2.5 billion target CIPEF VI becomes largest global emerging markets private equity fund in five years
VIDEO :: Fresh Capital and the Future
According to MVision CEO Mounir Guen, the allocation increases of big established limited partners will move the market more immediately than investments of new entrants to the market, such as sovereign wealth funds.
VIDEO :: Expert Q&A with Hussein Khalifa
A conversation about the state of the fundraising market with placement expert Hussein Khalifa of MVision.
VIDEO :: Supply, Demand and Tears
In an exclusive interview with Privcap, MVision Private Equity Advisers CEO Mounir Guen details the fundraising markets of Europe and the US, and explains why the shortage of experienced GPs in the emerging markets will cause investors to shift their attention to the world’s most developed private equity opportunity.
VIDEO :: Realities of a Mature Market
Peter Von Lehe of Neuberger Berman, Hussein Khalifa of MVision and Michael Elio of ILPA discuss the signs of sophistication among LPs, the critical importance of understanding illiquidity, new best practices in portfolio construction and investment pacing, and more.
MVision - Ten years of private placement
As LPs have become more demanding and selective, placement agents have had to develop their offering too. MVision founder Mounir Guen talks about the changes.
American Industrial Partners closes their fifth fund in under 60 days
American Industrial Partners, a leading middle market private equity group focused on acquiring and improving industrial businesses, announced today the first and final closing of American Industrial Partners Capital Fund V, L.P. at $700.0 million.
Financier Worldwide: Special report: Private equity
Skadden, Arps, Slate, Meagher & Flom LLP.
Chequers Capital XVI closes on its EUR 850 million hard cap after three month fundraise
Chequers Capital, the Paris-based private equity firm investing principally in control buyouts of unquoted, leading French mid-market companies, is pleased to announce the final closing of Chequers Capital XVI on €850 million
EQT Credit secures commitments totalling EUR 350 million
diversification away from its core buyout strategy, with the setting up of a €350 million credit fund.
Perusa Partners Fund 2 closes on EUR 207 million after three month fundraise
Perusa Partners, the private equity firm investing principally in lower mid-market special situations in Germany and German-speaking countries, is pleased to announce the first and final closing of Perusa Partners Fund 2 on EUR 207 million.
Waterland Private Equity Investments announces a EUR 1.1 billion final closing for fifth fund
Waterland is pleased to announce the final closing of its fifth institutional fund, Waterland Private Equity Fund V, at EUR 1.1 billion, just five months after its initial launch.
Nexus group announces a $320 million final close
Nexus Group, a pioneer in Peruvian private equity, is pleased to announce the final closing of its first international institutional fund, NG Capital Partners I, L.P. at $320 million
Monomoy Capital Partners announces the final closing of its $400 million second fund
Monomoy’s Fund II exceeded the firm’s $350 million fundraising target, filled its $400 million legal “hard cap” for institutional limited partner commitments and was significantly oversubscribed at its final closing.
Anchorage Capital Partners closes A$200 million fund
Anchorage Capital Partners, the Sydney based private equity firm which focuses on lower Australian mid market special situation and turnaround buyouts, today announced the A$200 million final closing of Anchorage Capital Partners I, L.P.
unquote video: Fundraising: The importance of the placement agent
Emanuel Eftimiu talks to HarbourVest's George Anson and Mounir Guen of MVision about the current fundraising market and what LPs expect in this new economic environment.
Gilde Buy-Out Fund IV closes at EUR 800 million
Successfully closed their latest fund, Gilde Buy-Out Fund IV, at EUR 800 million.
ELBRUS CAPITAL - Krukov, Savin and Thielen launch a Russia-focused private equity business
Dmitri Krukov, former Managing Partner of Renaissance Private Equity a private equity business of Renaissance Group, Alexander Savin, former CEO of A1 Group, an investment arm of Alfa Group and Robert Thielen, founder and Managing Partner of Waterland Private Equity are launching ELBRUS CAPITAL, a Russia-focused private equity business.
Sofinnova Partners Announces Closing of Sixth Fund for € 260 million
Sofinnova Partners, a leading European venture capital firm, announced the closure of its sixth fund, Sofinnova Capital VI, raising € 260 million.
unquote: The placement agent expects Nordic GPs to be back in force
For many years, Nordic general partners and their portfolios – particularly in buyouts – outperformed their peers in private equity, generating some of the best realised returns in the asset class, accompanied by few losses.
Real Deals: Uncommon Market
Fundraising has been undeniably brutal in the past two years as supply far outstrips demand. Six top players from all sides of the industry discuss tactics, the art of humility, and a last-minute reprieve for Europe.
HitecVision hard caps new fund at USD 420 million
HitecVision, Europe's largest private equity investor focusing exclusively on the oil and gas industry, announced today that it has accepted commitments of USD 420 million for its new fund, HitecVision Asset Solutions, exceeding the original USD 320 million target. The fundraising had strong support from existing as well as new international investors.
unquote: Q&A with Mounir Guen
François Rowell speaks to Mounir Guen about the fundraising climate in 2010.
unquote Benelux: 2010: year of consolidation
Sentiment among private equity investors in Q4 2009 has improved considerably from the depths the market experienced in the first half of 2009, to a positive-to-neutral outlook today.
Preqin: Introduction to 2009
Keynote address: Interview with Mounir Guen, CEO, MVision Private Equity Advisers.
emerging Private Equity: Middle East, built on shifting sands?
It’s been a difficult 12 months for one of the Gulf’s richest states. Late in 2008, Kuwait’s Gulf Bank announced a US$1bn loss linked to foreign exchange bets and in January the government took a minority stake to rescue the bank.
AVCJ: The New Emerging (Fundraising) Market
After several heady years of growth in fundraising – which peaked in 2008 with 210 emerging market funds raising over $66.5 billion – the wave of private equity fundraising came to a halt in the face of the perfect storm.
emerging Private Equity: Egypt: still North Africa's bright spot
After a few years of rapid economic growth, Egypt’s economy has slowed over recent times. But the country’s private equity firms remain confident that its opportunities are sound and offer tremendous future potential.
Keytone Ventures LP holds final close at $200m
Keytone Ventures, the China focused venture capital group, today announced it has closed Keytone Ventures LP at $200m.
Emerging Private Equity: MENA's sleeping giant
But will the region’s powerful family conglomerates turn out to be friend or foe?
PE Real Estate: Hong Kong traffic
Placement agents MVision and Probitas Partners are planning to open up shop in Hong Kong in a bid to service the needs of existing clients and establish themselves among a throng of more than 20 LPs in the city.
Buyouts: Head Abroad For Vacation From Denominator Effect
“Some of the funds of funds have multiple sources of capital, such as the balance sheet of a parent company or owner, and don’t need to rely purely on the success of their marketing,” said Jennifer Rinehart, a partner at international placement agency MVision Private Equity Advisers.
Private Equity International: Why normality is on hold
Limited partners need to be in full possession of the facts before resuming substantial investment in private equity.
AVCJ: A place for placement in troubled times
Placement agents have little trouble justifying their role in an increasingly disjointed and struggling industry.
AVCJ: Australian deals and funds during the crisis
Raising and investing strategies facing the crunch.
Private Equity Europe: Back to the future
Mounir Guen, CEO of MVision Private Equity Advisers, on the general market backdrop and the effect this is likely to have on fundraising and fund performance.
Emerging Private Equity: New Funds, New Order?
After several years of record-breaking fundraising, firms in emerging markets are facing an altogether tougher environment. How are LPs likely to allocate their scarce capital? And what does this mean for T&Cs on new fund structures?
unquote: Care for a top-up?
Fundraising remains as challenging an activity now as it was 12 months ago. Many signs of life have been in the form of top-up funds – a signal that many LPs are not only honouring their commitments but also supporting their GPs.
PEI: A Guide to Fund Placement Specialists - Time to readjust and adapt
The private equity and private funds placement industry is going through perhaps the most transformational period: the global market decline has led to a dearth of closes, and bank restructurings have led to the disbanding of established teams.
REGULATION: EVCA code for placement agents
ECVA has published a draft Code of Conduct for placement agents as the industry continues to come under attack.
Buyouts: Fundraising Market Takes A Holiday
It’s time for general partners to polish up the tin cup and start rattling some coins to attract attention.
Emerging Private Equity: Southern Africa
Leaving aside South Africa, Southern Africa is a relatively untapped private equity opportunity. But with some rich seams still to be mined, the question remains, who will take up the challenge?
Real Deals: Wrong time, Right placement
With the 2009 fundraising market undeniably desolate, it might be reasonable to assume that placement agents are in for a tough ride – not so, according to those on the ground.
Private Equity International Annual Review: 2009, the ups and downs
As the year continues to unfold, what motivates industry professionals to get out of bed in the morning? And what gives them nightmares? PEI sought views from some leading figures.
Private Equity Real Estate: Continental Shift
An otherwise flagging 2008 fundraising market was invigorated by high demand for Asian funds, according to proprietary data from PERE.
Emerging Private Equity: Global viewpoint: the year that shook the world
Even if it started well for emerging markets in particular, 2008 will go down in history as a year that many would prefer to forget. Several months on, the question remains, 'how much of an impact will private equity in emerging markets feel in 2009?'
Nordic unquote": Time to reset the bar
Norwegian LP Argentum recently received a government rescue package of NOK 2bn in response to a dearth of capital in the PE industry. Rikke Lilla Eckhoff investigates how funds will fare in this new environment.
Financier Worldwide: Challenges in Private Equity
The last 12 months have seen unprecedented change in the private equity market.
Nordic unquote": The year ahead
Major players in the Nordic region give their predictions for 2009.
Capital International Private Equity Funds closes $ 2.25 billion global emerging markets fund
Capital International Private Equity Funds, the dedicated global emerging markets private equity business of Capital International, Inc., announced the final close of Capital International Private Equity Fund V, totalling $2.25 billion. CIPEF V is the largest global emerging markets private equity fund closed this year.
Mergers and Acquisitions: Placing Placement Agents
The turmoil on Wall Street will likely impact the fund placement business.
Private Equity International: What lies ahead?
What does the global financial crisis mean for private equity fundraising over the next year? We asked a number of leading professionals for their views.
EQT Infrastructure fund closes at € 1.2 billion
EQT Infrastructure Limited has successfully closed EQT Infrastructure at € 1.2 billion. The fund will be advised by EQT Partners, the fund’s investment advisor, and specifically by an experienced team representing more than 50 years of collective infrastructure transaction experience led by Lennart Blecher.
Waterland announces close on € 800 million for its fourth mid-market fund
Waterland Private Equity Investments announced the closing of Waterland Private Equity Fund IV . The new fund has closed at the fund’s hard cap of € 800 million three months after launch. The interest from both existing and new investors was strong and the new fund was significantly oversubscribed.
Renaissance Group raises USD 660 million for its first Russia / CIS private equity fund
Renaissance Group, the specialist in creating value in high-opportunity emerging markets, is pleased to announce that it has received commitments of USD 660 million for its first private equity fund, Renaissance Private Equity Fund I, L.P.P., to pursue control and significant influence investments in Russia and the Former Soviet Union.
Capvis announces Final Closing on Over-Subscribed Fund Capvis Equity III
Capvis, the leading mid-market buyout firm in Switzerland, is pleased to announce the final closing of Capvis Equity III L.P. on € 600 million (about CHF 1 billion) of commitments, considerably exceeding its original target of € 500 million.
Financier Worldwide: Private Equity Outlook 2008
Private Equity Outlook 2008. By Stephan Grillmaier, MVision.
The Wall Street Journal: In private-equity survey, dark skies are seen ahead
The current financial crisis will be longer and deeper than even the most bearish members of the securities industry have been predicting, according to a survey of sentiment in Europe's private-equity industry.
EVCJ - Special Asia Report: Japan
With China and India seizing the limelight on the Asian circuit with their fast-paced economic development, Japan has often been viewed as a contradiction...
American Industrial Partners closes $ 405 million fund
American Industrial Partners, a leading middle market private equity group focused on acquiring and improving industrial businesses, announced today the final closing of American Industrial Partners Capital Fund IV, L.P. in excess of its target at $405 million.
Financier Worldwide Roundtable: Private Equity Outlook
Times have certainly changed in the private equity industry. Twelve months ago financial sponsors were riding a boom, closing mega deal after mega deal. Today they are reducing the size of their deals, injecting more equity to help bridge the credit shortfall and diversifying their investment strategies. So how will general partners adapt to these new conditions and continue to generate attractive returns for their limited partners?
HitecVision hard caps new fund at USD 800 million following heavy oversubscription
HitecVision announced today that it has received commitments of USD 800 million for its new fund HitecVision V, exceeding the original USD 600 million target. Following strong support from existing investors and significant interest from new international investors the fund was heavily oversubscribed.
Investindustrial closes its fourth buyout fund
Investindustrial, the Southern European mid-market buyout group, has closed its fourth Southern European buyout fund, Investindustrial IV LP at the hard cap of €1 billion, exceeding its original €800 million target within 3 months of launching.
South Africa: Beyond preconceptions
Despite its improving reputations, South African private equity continues to be underestimated by local and international LPs.
Placement Agents Feature
Placement agents can provide a better view of the fundraising market than someone who only goes out, say, every few years. “An in-house person will really only get to see the market every three years and it’s like starting afresh every time,” says Mounir Guen, chief executive of MVision.
Africa, leader of the pack
In 2006 South Africa chalked up several private equity-related firsts. “Local funds in South Africa have ZAR56.2bn (US$8.6bn at current exchange rates) under management and raised ZAR11.2bn (US$1.7bn) last year
Segulah announces first and only institutional close on SEK 5 billion
Fund more than five times oversubscribed seven weeks following the issue of its Private Placement Memorandum. 100% of existing investors re-invested.
Private Equity Internation Asia: Mirror, mirror
As more capital flows in to the region, Asian private equity firms are rapidly coming up the learning curve in fund administration, but finding experienced administrators is a challenge.
Financier Worldwide: The highs and lows of private equity
Over the last 18 months the volume of buyouts has broken records. In 2006, buyouts reached $737.4bn globally, more than double the previous high of $352.3bn in 2005, according to Dealogic.
EQT Expansion Capital holds final closing at EUR 475 million
EQT Expansion Capital II, the leading Northern European mezzanine fund, today announced that it has received commitments of EUR 475 million, significantly exceeding its original target of EUR 350 million.
Orlando Italy announces final close at €180 million
Orlando Italy, the Milan based private equity firm focused on Special Situations investments in Italy, announced the final closing of Orlando Italy Special Situations (“Orlando Italy”). The Fund received total capital commitments of €180 million, exceeding the initial target of €150 million.
PRIVATE EQUITY NEWS: Hedge funds outpace buyout firms in fundraising stakes
The private equity industry may have attracted record levels of investment from institutional investors in the past few years, but the growth of assets under the management of hedge funds has far outstripped its expansion.
Unquote: Taking the plunge
As LP allocations to alternative assets continue to rise, it is no surprise that some GPs, entrepreneurial by nature, are tempted to set up their own shop. But the road to independence is long and arduous, both in venture and buyout.
Nordic Private Equity News: EQT fundraising bonanza set
The big daddy of the buyout market has raised a suitably mammoth fund, but other hopefuls should not be frozen out of the action.
IR function boosts return-happy LPs
GP complacency in the current climate of LP-eagerness is a risk and one Mounir Guen of MVision believes can be deflected by ensuring a firm has an effective IR function in place.
Monomoy Capital Partners announces its final close on $280m
Monomoy Capital Partners is pleased to announce the final close of its first fund on $280 million USD, exceeding its original target of $200 million.
Unquote Intelligence: Fundraising report
Last year’s flirtation with listed funds by the private equity market will prove more than just a flash in the pan.
Mid Europa Partners announces final close of the largest Central European buyout fund at €1.5 billion.
Mid Europa Partners, the largest private equity firm focused on buyouts in Central Europe, announced today the successful closing of its third fund, Mid Europa Fund III LP with capital commitments of €1.5 billion.
Emerging Private Equity: Country, regional or global funds?
Is there a right or wrong approach to gaining exposure to private equity’s emerging markets?
APAX Partners publishes global equity environment rankings
Apax Partners, a leading global buyout firm, today published the 2007 global private equity environment rankings, under the title: 'Private Equity in the Public Eye'.
Our selection of the most influential people operating in private equity today brings together diverse strategies, geographies and personalities. The common denominator is their ability to shape events around them, adding their own sizeable footprints to the forward march of the asset class.
Private versus public equity: which creates more value?
The public face of private equity has taken quite a bashing recently. As teh industry's growing financial clout continues to afford...
IFR Buyout Europe: Making the list
As Blackstone and other big buyout firms consider listing their management companies, Robert Venes looks at 3i, one of Europe's longest-listed private equity PLCs.
DOW JONES: Between The US And The Far East Lies Untapped Opportunity
We're thinking of a region of the world. Here are some clues: Annual GDP growth is expected to beat 5% for the foreseeable future, well ahead of growth in more developed nations.
Abingworth raises Europe’s largest ever life sciences venture fund
ABV V closes on £300 million.
Brait announces the close of Africa's largest private equity fund, the R6.1 billion Brait Fund IV
Brait, one of the most experienced private equity investors in South Africa, today announced the launch of Africa’s largest private equity fund to date, the R6.1 billion (US$ 880 million) Brait Fund IV.
PEE: Fundraising outlook for 2007
The year ahead is set to be busy, by Mounir Guen, chief executive, MVision
The Stresses of Oversubscription
When demand for a fund becomes intense, placement agents have it easy, don’t they? Think again. Jennifer Cho Rinehart of MVision reflects on the many and various pressures generated by a popular offering.
EQT V hard caps fund at €4.25bn
EQT, a Northern European private equity group, has closed its latest fund EQT V on €4.25 billion ($5.5 billion) turning away commitments of almost €2 billion.
EQT Greater China II closes on USD 545 million
EQT, a leading private equity group with operations in Greater China and Northern Europe, is pleased to announce that it has received commitments of USD 545 million for the EQT Greater China II fund ("EQT Greater China II" or the "Fund"), a fund focussed primarily on mid-market buyout and control investments based in or connected with China, Hong Kong and Taiwan ("Greater China").
Orlando Real Estate announces final close at €205m for its first fund
Orlando Real Estate GmbH, the Munich based private equity firm focused on Special Situations real estate investments in Germany and the German-speaking countries in Europe, today announced the final closing of Special Situations Realty Partners I (“SSRP I”). The fund, launched in February 2006, has closed on committed capital of €205 million, exceeding the initial target of €150 million. The interest from investors was substantially above the hard cap.
Successful Final Close for Chequers Capital XV at €600 million hard cap
Chequers Capital announced the final closing of Chequers Capital XV on €600m
LP/GP communications: The eight channel model
The balance of power between LPs and GPs has traditionally been finely poised. The supply of capital from LPs has increased, while buyout houses across the market have continued to raise ever larger vehicles. Since access to the best performing funds can still be an issue for some LPs the market has been characterised by a shift in power in favour towards the best performing GPs.
Focus Ventures Closes Oversubscribed Third Fund at $250m
Focus Ventures, LP - Silicon Valley's leading late stage investor in information technology - has announced the close of its third fund at its hard cap of $250m, having received significant interest in excess of this amount.
PEI Annual Review: Peak Time
Throughout 2005, private equity fundraising activity was as intense as it has ever been. Can - and should - last year’s pace be sustained?...
EVCJ: German venture looks to the future
The years of consolidation, of poor deal flow and weak exit markets are over, according to German VCs. Now the LPs just have to realise it. Tom Allchrome reports on how Germany is trying to pull itself out of doldrums.
Mercapital caps oversubscribed buyout fund at EUR 550 million
Mercapital has received commitments of EUR 550 million for Mercapital Spanish Buyout Fund III, above the original target of EUR 500 million.
Orlando Private Equity closes its second fund at €255 million
Orlando Management GmbH, the leading private equity investment advisor in Special Situations in the German middle market, today announced the closing of Special Situations Venture Partners II (“SSVP II”). The fund received collective commitments of €255 million.
Life at the top
A healthy appetite for European private equity has meant many GPs are now calling the shots. This is unlikely to last.
PE Asia: Fundraising. The macro factor
MVision’s Guen, who is currently in the market with an Asia-focused buyout fund, EQT Greater China, says he has noticed a keen interest among limited partners in understanding the macroeconomic landscape of China and India, where country risk is perceived to be higher. “It’s the first question they ask,” says Guen.
Waterland announces final close on €400 million for its third mid-market fund
Waterland Private Equity Investments, the private equity firm specialising in controlling investments in quality companies in fragmented growth markets to finance organic and acquisitive growth, today announced the final closing of Waterland Private Equity Fund III (“WPEF III”). The new fund, launched in November 2005, has closed on €400 million.
PEI Braving the waves
Mounir Guen had a busy year last year, with his team at London-based placement specialist MVision helping to close new funds for French venture specialist Sofinnova Partners, German technology specialist Wellington Partners, Investindustrial in Italy, CHAMP Private Equity in Australia, and EQT in the Nordic market...
EVCJ: Renewed interest in Euro venture
In October the French Technology Fund-of-funds (FTF) was launched with €150m and a couple of months earlier Germany's Wellington Partners reached final close on its third fund, raising €150m compared with its original target of €120m.
EQT Opportunity Fund closes at EUR 350 million
EQT, the Northern European private equity group, announced the close of the EQT Opportunity Fund with commitments of approximately EUR 350 million. While EQT has received significant additional interest, the fund was capped at EUR 350 million, exceeding the initial target by EUR 100 million. The fundraising was officially launched in October.
Mid Europa raises €650m for Central Europe
The firm formerly known as EMP Europe has closed the largest private equity fund aimed at Central and Eastern Europe to date.
EVCJ: Feature: Placement Agents
Time was when all you needed to be a placement agent was a bulging book of contacts, good organisational skills, a taste for travel and great sales patter. And you could make a pretty good living out of it, too. There are probably a few in the industry who wish life was still that simple. But, as private equity has professionalised and matured over the years, so placement agents have had to do the same.
EVCJ: In the club
Club buyout deals are becoming increasingly common, as private equity house band together to purchase larger companies. But these deals do not always go smoothly and there are some concerns about what happens when houses fail to agree on strategy or exit timing and about the impact on LPs' investment diversification.
Investindustrial closes its third buyout fund at hard cap of €500 million
Investindustrial, the Southern European mid-market buyout group, has closed its third Southern European buyout fund, Investindustrial III at a hard cap of €500 million, exceeding its original €440 million target. Investindustrial III has attracted a number of major new investors as well as strong support from existing relationships with more than €1bn of interest.
EVCJ: German Venture: Not all bad
There seems to be some light at the end of the tunnel when it comes to European venture. Munich-based Wellington Partners has reached a final close on Wellington Partners III Technology Fund at €150m, exceeding its original target of €120m
Wellington Partners closes new €150 million venture capital fund
Official Wellington Partners' press release for the closing of "Wellington Partners III Technology Fund". German version here.
EVCA: The Symposium Journal 2005
The fundamentals of private equity fundraising.
EVCJ: The dash for cash
With so many large and upper mid-market European funds embarking on the fund raising trail this year, investors look set to be spoilt for choice about where to commit their buyout allocations. But will they get into the funds they want?
WIRTSCHAFTSWOCHE: Großes Gedrängel
Viele Fonds brauchen in diesem Jahr frisches Geld von ihren Investoren. Für manche wird es eng.
Sofinnova Partners Closes Fifth Fund at €385m
Official Sofinnova Partners' press release for the closing of "Sofinnova Capital V".
Real Deals: The New Road
Placement agents are now established parts of the fundraising street furniture. But some of the most successful funds go it alone. It can be a long, long road. Do these advisers smooth the way?
Financier Worldwide: The changing face of private investments
..."In certain markets, like the US, there is a lot of undeployed capital in the hands of general partners. In Europe there is not the same volume - but there are plenty of US buyout firms looking to invest in Europe," says Mounir Guen, founder and CEO of MVision Private Equity Advisers. "With Central and Eastern European companies converging into the wider European platform, it is going to create added opportunities. It is similar to what we saw a number of years ago in Spain, Italy and Greece," says Mr Guen.
eFinancialNews: Funds face shortfall despite cash
Guen said: "Up to 80% will be increasing commitments to existing relationships. But this year there is going to be double the number of funds looking for money. It will be hard to increase the amount, let alone keep anything over to experiment"...
PEI: Waking giants
China versus India – where should investors place their bets? Andy Thomson explores the key characteristics of two markets demanding everyone’s attention.
PEI: IR imperatives
Because an up-to-scratch investor relations programme is no longer just optional for private equity firms, general partners are working hard to improve reporting systems and communication channels. One key message from limited partners back to managers is this: do professionalise, but keep it personal when dealing with clients.
PEI: Growth in the east
Private equity investing in Central and Eastern Europe continues to mature, helped by deeper pools of leveraged finance, a more uniform regulatory environment and a string of successful realisations. As more international investors discover the region, Aaron Lovell examines the drivers of CEE private equity one year after EU accession.
PEI: No-Nos in your PPM
MVision’s Paula Chester points to ten things in private placement memoranda that will keep investors from reaching for their guns.
Castle Harlan Australian affiliate closes on A$950 million for CHAMP II funds
Castle Harlan, Inc., the New York private equity investment firm, announced today that it and CHAMP Private Equity, its Australian affiliate, had raised two new investment funds with aggregate commitments of A$950 million (US$730 million), making the CHAMP II Funds substantially larger than any other independent private-equity funds managed in Australasia...
Butler Capital Partners Announces a Single Close
Fund oversubscribed and capped at €320 million.
EVCJ: Euro venture heads west
With Euro venture funds having a job getting themselves noticed by LPs in the current fund raising rounds, some think the answer is to set up an office in the US...
Financier Worldwide: The fundamentals of private equity fundraising
The fundamentals of private equity fundraising.
Freedom of information concerns may be overblown
..."Some form of visiblity is going to come into the market place, and there's nothing wrong with that. The underlying issue is what does it mean? What is the process for accessing that infomation and how deep does it go?" says Mounir Guen
La Tribune: Le capital-investissement pourrait lever près de 250 milliards de dollars en 2005
Pourtant les chiffres de Private Equity Intelligence laissent sceptiques nombre de professionnels. Comme l’assure Mounir Guen, directeur général de l’agent de placement MVision, "2005 ne va pas reproduire l’époque 1999-2000 où les investisseurs ont considérablement augmenté la part qu’ils allouaient au private equity et où les fonds doublaient ou triplaient de taille".
Sofinnova V capped at €385m
Sofinnova Partners, the start-up and early-stage venture investor backing life science and IT companies across Europe, has closed a fully subscribed new venture capital fund, Sofinnova Capital V, at €385 million ($500 million). MVision Private Equity Advisers acted as placement agent for the firm.
eFinancialNews: Fundraisers set for record breaking year
Mounir Guen, chief executive of MVision, a private equity adviser, said: "2005 will be a record-breaker for fundraising, but not because funds are doubling in size; rather the market will be congested by the number of funds coming in at once."
Real Deals: Hunting for funds
Moose Guen says: "For some the strategy is just to wait your turn when it comes to winning mandates in the next year. If you go for one and you don't get it, you wait for another one. In our model we only go after number one and if we don't get it we don't go for number two or three."
Financier Worldwide: Too close for comfort
Moose Guen says: "For some the strategy is just to wait your turn when it comes to winning mandates in the next year. If you go for one and you don't get it, you wait for another one. In our model we only go after number one and if we don't get it we don't go for number two or three."
PEl: 'Equity, my precious'
Private equity and The Lord of the Rings may seem worlds apart to most of us. A journey along the fundraising trail can be every bit as tough as travelling from The Shire to Mordor and back again... Conni Jonsson is one of Europe's most powerful investment wizards. Backed by the mighty Wallenberg clan, he has turned EQT into a major force in the buyout market. When Jonsson prepares for a new fundraising adventure, he calls Mounir Guen,aka Moose, the intrepid London-based fund placement pro who knows the treacherous ways through the swamps of institutional Middle-earth like the back of his hand. MVision, Moose's burgeoning enterprise that helped raise EQT's latest fund...
Private Equity International: Northern Lights
...Segulah really has joined the ranks of elite funds that can pick and choose their investors. The fund is heavily oversubscribed... In the last two months alone, LBO specialist EQT raised €2.5 billion in just six months for its fourth fund...
Segulah announces first and final close on €250 million for its third Nordic mid-market fund
Fund more than four times oversubscribed in less than two months.
EVCJ: Competition? What competition
...Mounir Guen, CEO of MVision, says: "The revenue earned on funds raising now is generally lower than it was five years ago. Also, the fee is spread over time so it can take two or three years to break even and this is difficult in an environment where banks expect to be up 10%-15% year-on-year in revenue."...
EQT IV holds final closing at EUR 2.5 billion
EQT, the Northern European private equity group, has during the summer had a final closing of EQT IV (the "Fund") at EUR 2.5 billion (approximately USD 3.0 billion), exceeding its original EUR 2.0 billion target in just six months after the launch of the fundraising in January 2004. Notwithstanding strong support from existing and new investors, EQT had decided from the outset to hard cap the Fund at EUR 2.5 billion.
eFinancialNews: French team breaks from Legal and General Ventures
Christophe Fercocq and Hervé Franc, the French investment team of Legal and General Ventures, are separating from the insurance group to form Cobalt Capital with plans to raise a €200m ($246m) mid-market fund.
LGV announce successful closing of new fund
Legal and General Ventures ("LGV"), the private equity arm of Legal & General Group Plc, has closed its fourth private equity fund (LGV 4) since the appointment of Adrian Johnson as CEO in July 2000
Friedman Fleischer & Lowe closes Fund II at US$750m
"FFL" is pleased to announce that it held a final closing in June on its second fund, Friedman Fleischer & Lowe Capital Partners II, L.P. ("Fund II"), with US$750 million of commitments from limited partners.
EVCJ : Grappling the Fund Management Problem
Many European institutional investors arrived on the private equity scene alongside an explosion of fund raising activity globally... Finding firms to invest capital with was not a problem for institutional investors... what they are now grappling with is how to effectively manage these programmes that they jumped into with such gusto.
PEI: The Best and Worst of Times
It was the best of times, it was the worst of times: a small elite enjoying speedy, heavily over-subscribed campaigns, the remainder scatching around for the crumbs, while a few unfortunate others go to the wall. 2003 was the year when private equity fundraising became polarised.
Initiative Europe: Tough times: Fundraising 2004
Mounir Guen explains that LPs have always had desire to gain exposure to the cycle and the bulge bracket has consistently provided the opportunity to do this...
Private Equity Europe: Is All Capital Good Capital?
...Mounir Guen of MVision Private Equity agrees with Barber: 'The importance of constructing a well diversified investor base is aimed at ensuring the long-term sustainability of a GP. One should aim for investors that are establishing new programmes, which means that - if anything - they will have more capital available when the next fund comes to market.'...
EVCJ: Is it possible to benchmark private equity performance?
...Mounir Guen of placement agent MVision explains: "When using market comparables your nightmare comes in regard to the unrealised portfolio. When public markets were soaring, it was felt by investors that there was a lot of hidden value in private equity holdings. And when the market does an extreme tank, but you are holding everything at cost, 'is it worth that or did you buy things when they were too expensive?'," he asks.
The Deal: EQT sprints to $3bn fund closing
Swedish private equity firm EQT Partners AB said Wednesday, Aug. 4, it made a final closing of its new EQT IV fund at €2.5 billion ($3 billion), exceeding its original €2 billion target just six months after launching the fund in January with the help of placement agents MVision Private Equity Advisers
Bloomberg: Exponent Raises 400 Million Pounds for U.K. Buyouts
..."New groups usually have a hunger and dynamism," said Mounir Guen, chief executive of MVision Private Equity Advisers Ltd., which helps buyout firms raise funds. "That forces older players to work harder to stay at the cutting edge."...
Friedman Fleischer & Lowe closes Fund II at US$750m
"FFL" is pleased to announce that it held a final closing in June on its second fund, Friedman Fleischer & Lowe Capital Partners II, L.P. ("Fund II"), with US$750 million of commitments from limited partners.
Financier Worldwide: A tough balancing act
More sophisticated investors are creating a highly selective and demanding fundraising market.
EVCJ : When does a fund raising go stale?
European fund raising in 2003 continued its path of decline recording 37 final closes worth a combined €17.6bn compared with 72 fund closings worth €29.3bn in 2002, according to Almeida Research. This year has seen fund raising momentum pick up, but the increasing number of big names on the market struggling to meet their target begs the question, 'When is a fund past its sell-by date and how can you prevent a fund raising going stale?'
Waterland announces final closing on WPEF II
Waterland Private Equity Investments has held a final closing on Waterland Private Equity Fund II ("WPEF II") with commitments of €170 million from such prominent investors as ATP Private Equity Partners I K/S, Delta Lloyd Private Equity B.V., Horsley Bridge International and JP Morgan Fleming Asset Management.
Mezza-Need: A Vital Deal Component
Mezzanine finance has grown from just another subordinated bridging strip to become an essential element in deal structures.
Placement Agents market update
A depressed fund raising market has led to changes among players in the placement agent industry. The withdrawl of some placement groups has opened up opportunities for others, including new entrants. As the investment banks that offer the service thin out the boutique model appears to be in ascension. Louise Cowley, EVCJ reports.
Chester Joins Mvision
Paula Chester joins placement agent Mvision
Middle Eastern Equity
Private equity in the Middle East represents a compelling opportunity, but educating business owners, local and Western investors about this opportunity has been difficult. A small handful of Middle Eastern private equity firms are stepping up the effort in anticipation of major growth.
It's a truism that raising a private equity fund is much harder than it used to be for many firms - although a much smaller group of "halo funds" are now succeeding in attracting more commitments than they themselves had planned. And evermore embedded in the fundraising process is the placement agent. Here's why.
Technology: stick with it or stay away?
Andrew Sheehy asks what European LPs are making of the whirlwhind reshaping the technology industry.
Choosing a placement agent
Life is difficult enough for private equity and venture capital firms looking to fund raise, but changes at the banks and boutiques that place those funds could complicate things before the fund raising process has even started. The fund placing business is evolving. Some players are expanding their services or forming new alliances, others have dropped out of the market and new ones are springing up in unexpected places. For general partners, the choice has never been so diverse. Louise Cowley, EVCJ reports.
Abingworth announces $350 million biotech fund
London, UK, 31st July 2003 - Abingworth Management, the international life sciences venture capital group, today announced the closing of Abingworth Bioventures IV LP (ABV IV), its sixth life science venture fund. The fund closed on $325 million within the last week and expects to close shortly on a further $25 million pending minor legal formalities with two additional investors.
Waiting for the next wave
Fundraising is hard work at present, and much less of it is going on. The relative drought of the past two years has been taxing on placement agents, not least because more of them have come into the market and have ended up competing for less business. But everyone is convinced that fundraising will come back in 2004. The trick is to be ready when this happens; the result is that banks, boutiques and one person-bands are feverishly preparing for this next wave.
Chequers Capital Announces Final Closing on Over-Subscribed Fund
Chequers Capital, a leading French mid-market buyout firm, is pleased to announce the final closing of its debut fund on €300 million of commitments. The final close was 50% above the original target of €200 million due to strong demand from institutional investors worldwide.
Chequers Capital closes first fund
Amid a sharp increase of activity in the French buyout market, the new fund from the former Charterhouse SA team has raised E300m
HealthCap IV established with committed capital of MSEK 3,000
HealthCap IV was established in the summer of 2002 and
now announces its final closing with acommitted capital of
SEK 3 000 000 000.
The 50 most influential people in Europe
Who is shaping the industry?
Talking, listening, placing
Placement agents are becoming an increasingly critical factor in the fund raising process. David Hawkins finds out who does what, when and why.
A long and winding road?
The popular view is that only masochists are attempting to raise new private equity or VCfunds at present. Over-allocated investors and those still smarting from the implosion ofIT company valuations are just two groups who have apparently made the fundraising traila long and painful one for old and new firms alike. David Hawkins looks at how accuratea picture this is.
Do you invest in first time funds?
Lisa Bushrod reports
Spoilt for choice?
Placing private equity funds is increasingly hard even for the most compelling propositions. But there are more than enough placement agents in the market ready to assist.
Land of the raising fund
Japanese pension funds and other institutional investors are slowly discovering, not always for the first time, the attractions of private equity as an asset class.
Quester Announces Strong Support for New Institutional Venture Capital Fund
Quester, a leading UK venture capital firm specialising in early development stage investment, is pleased to announce over €115 million of commitments for its new institutional venture capital fund, Quester Venture Partnership ("QVP"). Quester has secured commitments from prominent institutions from the UK, Europe, North America and Japan. QVP is only open for investment to professional investors.
SSVP announces a successful final close at €163 million
SSVP is pleased to announce the final closing of Special Situations Venture Partners LP (the "Fund"), on € 163 million, considerably exceeding its original target of € 125 million. The Fund is advised by Munich-based Orlando Management.
Much ado about mezzanine
Mezzanine is going strong, even though times are tough. What is the attraction to the buyside, who invests in mezzanine, and why are they buying it?