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Analysis

In conversation: Stake house

Highlights from a recent roundtable discussing the evolution of GP stake sales and what value they can bring to private equity firms

Fast Funds

Fund managers are increasingly turning to Jersey due to the speed, flexibility and efficiencies offered by its fund structures

Go with the flow

Key takeaways from The Drawdown's most recent breakfast briefing event, which discussed the complexities and challenges of information flows from portfolio companies through to investors

Stepping up to the plate: The transformative role of the Irish ILP

Sam Metland, head of private equity product at Citco, says the Irish fund regime reform provides valuable optionality to managers across Europe

“QAHC, QAHC!”

The Qualifying Asset Holding Company regime is set to close the gap between the UK and other fund domiciles

Looking back to look forward

By looking back at how and where the international funds industry has evolved, we can better understand how the sector might develop in the future, argues Elliot Refson, head of funds at Jersey Finance

Preferred, professional, pragmatic

Pierre Weimerskirch, regional head, Luxembourg at Apex Group, discusses the emergent opportunities facing Europe’s largest centre for domiciled funds

Hot contest

The race to be private equity’s domicile of choice is speeding up, but which jurisdiction is really gaining ground?

On second thoughts

With secondary deals on the rise, we caught up with two industry practitioners to discuss what this additional workload means for them, their teams and the wider industry

Insurance policies

PE's greatest yet least recognised risk

Inside Verdane’s ESG-linked sub line

Verdane's sustainability lead, Axel Elmqvist, and head of debt, Andreas Daae, discuss the intricacies of setting up the firm's first ESG-linked subscription line.

Beyond data

Data has been on private equity's mind for a few years now; is it starting to yield the results it promised?

In conversation: Power to the LP

Highlights from a recent roundtable event examining the growing influence of investors in private equity fund management

The most influential fund finance experts of 2022

Charting the market’s movers and makers

Daring to be different

Having enjoyed several years of stellar growth, have Asian fund managers done enough to ensure their firms are operating in a robust enough manner to weather the gathering global macroeconomic storm?

Champions league

The Drawdown Awards recognise the very best in private equity operations, awarding outstanding service provision and operational leaders.

Depending on data

Key takeaways from The Drawdown’s most recent breakfast briefing event, which discussed how private equity professionals are defining their data strategies

Outsourcing vs insourcing: is there another way?

Clifford Norton and Gilles Pelosato of AssetMetrix explore the key drivers behind both outsourcing and insourcing, and explain how technology-as-a-service can offer an alternative path.

AIFMD II: Where are we now?

The EU Council’s latest published document responds to the European Commission’s proposals, which would subsequently result in AIFMD II

Role call: occupational psychologist

With more importance placed on the minds of PE practitioners in order for them to perform at their very best, should GPs consider hiring an occupational psychologist?

In conversation: Legal representation

In-house counsel has evolved to become a key strategic and commercial driver

And the survey says…

How can tech make sense of the alphabet soup of ESG frameworks?

HFC: Employing fund management expertise to make a difference

Marshall Wace partner Jon May explains how Help for Children (HFC) applies the fund management expertise of its team members to make a real difference in preventing child abuse.

Aligning ESG efforts with your fund administrator

With LPs increasingly interested in how private equity firms themselves are operating when it comes to ESG, it’s worth thinking about a GP’s own suppliers and third party providers to ensure both parties are aligned.

Operational lens: Summa Equity Fund III

Summa’s latest fund was almost quadruple the size of its predecessor, despite being raised remotely. General counsel Martin Sjölund, talks us through their Swedish fund structure, the bespoke onboarding solution, tackling compliance heavy ODD and Summa’s supportive partners.

Force of nature

The TCFD has put action to prevent climate change to the forefront of investing, now a new nature-related framework aims to put the spotlight on biodiversity

Fund finance tracker: 2nd edition

The latest instalment of the Fund Finance Tracker found tightening of NAV loan amounts and increased activity for GP facilities

Human vs nature

People are messy and unpredictable - trying to fit them into one third of an acronym isn’t working

Operational lens: Circularity backs P2i

With a circular economy investment strategy framework, Circularity Capital delves deep into the details when it comes to deals. We take a look at the operational work behind the firm’s recent £8m investment into P2i

Chain reaction: the hidden depths of KYC

KYC is so much more than just a passport and a utility bill. Highvern’s Ken Ritchie details the intricacies of KYC compliance

And the nominees are…

SyndicateRoom’s Graham Schwikkard recounts his journey from COO to CEO by bringing the firm’s tech function from Portugal to the UK, leading to the creation of a bespoke nominee platform to run its EIS fund

In the dog house

How effective are financial regulators when it comes to keeping private equity in check?

Another ESG regulation

Despite numerous ESG related rules hitting private equity over the past year, Brexit means more burdensome regulations for managers to digest and comply with. What does the proposed UK Green Taxonomy mean for PE, and how does it fit into the existing ESG regulatory matrix?

Unlimited partnership

Over the past year, there has been a surge of partnership agreements between various private equity-focused tech providers. Additionally, these same tech providers have joined forces with a number of service providers. But who is doing what, with who?

The Techwork 2022

Our annual Techwork report charts the industry’s digital progress by focusing on a select group of individuals responsible for this crucial work

An American tail: service providers go West

For European GPs that want to stick with a familiar European service provider Stateside, we explore which businesses have taken their European operational excellence across the pond

Team recharge

Following two years of continued disruption to routines and ways of working, private equity professionals are facing an ongoing feeling of fatigue. As we move into hybrid models, what are firms across the globe doing to re-energise their employees?

Open relationship: outsourcing IR

Private equity's most prized relationships are those with its LPs; why would a firm decide to outsource its investor relations?

Fund finance: structural innovations

Investec’s Helen Griffiths and Oliver Bartholomew discuss key structural developments for capital call facilities, including cost savings awarded by the master facility agreement, the importance of GP credit ratings, and continuation vehicle solutions.

A new asset class arrives

At the recent Fund Finance Association Symposium, held in Miami last month, it's clear that this market is no longer a subset of the private funds industry, but rather a burgeoning asset class in its own right

The pendulum has swung

The recent noise coming from the SEC is largely measured and unsurprising; as the asset class matures of course it should adhere to stricter oversight

ESG outsourcing: who’s who?

We've compiled a directory of who does what when it comes to ESG outsourcing, to help get those boxes ticked.

Operational Lens: Pantheon Secondary Opportunities Fund (PSOF)

With a total AUM of $52.3bn, Pantheon is a machine when it comes to fundraising. We take a look at the $624m PSOF, to discover how the pros get the job done.

Blow it all up and start again

Could the rise of 'corporation zero' - designing a fund's operations from scratch - be the remedy to private equity's tricky tech upgrade?

Carried Away

Could the ever forceful push for ESG break carried interest, the heart of private equity?

PE vs ESG

The mindset required to genuinely achieve ESG aims inherently conflicts with the numerical and return-driven mindset needed to deliver private equity success. How can these mindsets converge to achieve both?

Planning permission

A growing number of small managers are taking on full scope AIFM permissions well ahead of time; the market is split on whether or not this is a good move or a big burden

Pressure point

The explosive growth of the fund finance market has hugely benefited the private capital fund industry. But with banks straining to keep up with growing demand, where next for capital call facilities?

FX hedging: art or science?

FX hedges provide vital protection on precious returns, but can be tricky to arrange, mainly due to liquidity restraints

Deep dive collection

Selection of The Drawdown’s extended analysis features from 2021

Compliance calendar

Need to know dates for your diary as UK rules diverge post-Brexit, as well as upcoming key European regulations

Common pitfalls when drafting an LPA

Common mistakes and oversights made when putting together the LPA, and tips on how to avoid them

Private equity’s great resignation

PE practitioners are on the move; is the industry's slow start around diversity and inclusion coming back to haunt it?

AIMA CEO Jack Inglis: Community and interconnectedness have never been more important

AIMA’s CEO Jack Inglis was appointed as HFC’s chair in January 2020. He reveals how the charity responded to initial fundraising challenges brought about by the pandemic, the uncomfortable positions he found himself in, and why HFC plays such an important role in building a peer-based community

Cyber psychology

With cyber attacks increasing, the matter can no longer be an IT problem. It's time for private equity to see cyber threats as a major business risk, and with that, human behaviour needs to be front and centre.

Data is king (even when it comes to fund domiciles)

Common standards would enable decent data governance, which would do away with skills and talent challenges the fund administration market is suffering from

Jersey private funds: a new era

Jersey is a longstanding financial jurisdiction with an agile and responsive nature uniquely designed to meet market and client demand. It is no wonder it is an attractive destination to hold private funds, writes Simon Page, global head of fund services, Hawksford

​Introducing the Fund Finance Tracker

Shining a light on subscription lines, NAV facilities and GP finance, to provide insights on how a selection of lenders approach these loans

Tech transformation tracker: Key findings

The industry's embrace of technology has accelerated dramatically over the past 18 months

LISTEN: Private debt’s next stage of maturity

Direct lending has come a long way in a short period of time