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American-style waterfalls gain ground

The global financial crisis prompted some LPs to push US managers to adopt whole-of-fund distribution models. This was a short-lived phenomenon.

Q&A: ‘Broader and broader’ acceptance of the American-style waterfall

Paul Gajer, head of law firm Dentons' private equity and investment funds practices, discusses the direction of travel for distribution waterfalls in private equity and the effects of a potential recession.
Private equity valuations in US

DATA SNAPSHOT: Valuations not budging from lofty heights

Private equity valuations are 'holding pretty steady', according to Dan DiDomenico of Murray Devine, who authored the firm's report on the subject.

How to reduce the cost of forex hedging

Michael Slain, co-head of Investec's European Funds group, discusses the heightened need for FX hedging and how private funds can do it without breaking the bank.
Buy idea with money more than just capital from gp interesy sale

Blackstone’s investment in BC Partners is about more than hard capital

The London-based private equity firm picked the New York giant to be a minority shareholder for the soft benefits it brings as well.
illustration of approach to leverage

Brookfield’s PE head on the firm’s approach to leverage

The firm tries to secure non-recourse financing, long-term maturities and little-to-no financial maintenance covenants, said Cyrus Madon on an earnings call last week.
the poison pill of private equity liabilty

Section 101 under the microscope: the liability ‘poison pill’

The Stop Wall Street Looting Act proposes to make private equity sponsors liable for portfolio company debts. We ask three CFOs for their reactions.

How KKR uses credit facilities

On its Q2 earnings call, KKR CFO Bill Janetschek detailed the way the firm handles credit facilities
hybrid funds

The operational challenges of hybrid funds

Managers are pushing the innovation envelope, but what are the operational implications of introducing a semi-liquid wrapper to illiquid assets, asks CITCO's Sam Metland?

Blackstone C-corp conversion in full effect

The firm has been introducing itself to a new set of investors through an ‘extensive roadshow over several weeks’.

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