Avneet Kochar and Frank Ranlett, Directors of Alternative Investments at AT&T Investment Management, propose a bold new standard of fee disclosure for the fundraising market – the ‘size/management fee/carried interest’ tag.
The Paris-based buyout firm has offered LPs a larger cut in the size of their commitments to Fund V.
A recent survey by mergermarket and Houlihan Lokey shows that respondents, among them private equity professionals, expect solvency opinions will become a bigger factor in deals in both the US and Europe.
Private equity infrastructure funds have long used different structures than their traditional private equity peers.The asset class provides some intriguing examples of the benefits and drawbacks of some innovative models, among them the open-end fund structure.
After announcing in June it would begin negotiating fee reductions for new commitments, the $185 billion pension plan has backed the Institutional Limited Partners Association’s new terms and conditions guidelines.
The secondaries specialist is working with several institutions on preferred annex fund-type structures that help LPs to meet capital calls and make fresh commitments.
The Southern European buy-and-build specialist is giving LPs greater control over investments made by the fund, illustrating the concessions necessary to raise an annex fund in today's market.
TA Associates raised a $4 billion fund in just nine months, thanks in part to the firm’s decision to reduce its promote from 25% to 20%.
The available capital in the region, and Shariah's spurning of traditional leverage, has made the Islamic fund structuring more popular.
SCM Strategic Capital Management's sixth annual terms and conditions study surveyed 406 private equity funds, representing a range of strategies, sizes and geographies. The fundraising climate didn't truly drop off until the fourth quarter of 2008, so the effects of the financial crisis are not yet fully reflected in the results. For this reason, the results of the survey's analysis of characteristics of management fees remains oddly positive: fewer funds chose to reduce their management fees after the investment period, mega funds increased their management fees, and fewer funds charged fees below 1.61 percent. One suspects however that next year's statistics will not be as rosy.