Download August/September issue; PE’s growth spurt

New issue: Download the August/September edition of Private Funds CFO, which includes our coverage of key panels and topics discussed at the June CFOs & COOs Forum 2021 (and an interview with Softbank Vision Fund’s CFO on their own CFO network), a review of the implications of Intertrust’s record-breaking fine from the Cayman Islands authorities, a look at Beneficient’s move to coordinate legislation that could make Kansas the private funds industry’s new home, a Q&A with BC Partners Credit on their new fund finance platform, and much more.

Editor’s letter from the issue: The pandemic only reinforced the strength of the private funds industry’s proposition. Fundraising levels are reportedly going gangbusters across private equity, secondaries, credit and more, even before many firms have resumed ‘normal,’ pre-covid operational procedures.

Much of this, of course, is due to the hard work of finance, accounting and operations professionals. CFOs speaking about this with us have repeatedly said they’ve never been busier than in the past year. So busy, in some cases, that it couldn’t have been done if they had their previous office commutes.

So, while some industries are itching to get back to business as usual, many in private funds are prepared to continue the work-from home experiment or include more flexibility in their firms’ future plans.

One CFO said that, early in her career, it was normal to make the long commute home to have dinner with her children and put them to bed, before going back that same night to finish working into the wee hours of the next day.

That kind of work-life imbalance was never desirable, and now many realize it’s not even necessary. Covid has forced executives across industries to think outside the box, and while many ideas of the future of work are still in the experimental phase, it is already producing results.

Take recruitment and development – something this industry has struggled with since well before covid. Increased flexibility allows managers to spread their nets wider, and perhaps even include talent who might not have even considered the industry as a viable career option in the past.

There’s real growth, of the qualitative kind, happening here. While covid-19 took an immeasurable toll on many, it has also led to some much-needed introspection. The result could be a more cleared-eyed vision of private funds and of work at large. The industry should continue to embrace the change.

Email prepared by Graham Bippart