Riverside: In the first of two CFO 2020 outlooks (one coming at you same time next week), we talk to Jason Murphy, the management company CFO for Riverside Company. Murphy gives us some insight on the projects his team is working on in the coming year and talks about the lay of the land in the year to come. On the record levels of dry powder in the industry, Murphy says: “We’re willing to pay for the right deals, but unfortunately, all deals are expensive right now.”
Full Q&A, here.
SEC stats: The Securities and Exchange Commission released its quarterly Private Funds Statistics Report. I didn’t get time to really imbibe it like the literary work I’m sure it is, but one thing popped out as potentially interesting: the US’s share of private equity fund domiciles and advisor main offices has dropped from nearly 64% of the global market in the third quarter 2017 to a mere 56% as of this quarter. Meanwhile, “Other” jurisdictions (as in, not the Caymans, UK, Canada or Bermuda) have picked up 6.7 points to comprise 9.6% of the market in the same period.
Some service provider platform news: B2B strategic communications and advisory firm ICR, Inc. launched ICR ESG Diagnostics; a new ESG due diligence service for sponsors. ICR says the service will help private equity and venture capital firms do due diligence on potential investments, as well as assess ESG issues during the investment process. The service is led by ICR’s Lyndon Park, head of its Governance Solutions practice.
Some service provider people news: Citco snatched up treasury management solution firm Hazeltree Fund Service’s Ryan Fitzgerald to head up its middle office solutions and “further develop the business line.” The firm says it will be introducing a proprietary collateral management platform and making enhancements to its Æxeo Treasury platform as part of its investment in the division.
Email prepared by Graham Bippart