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Analysis

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

Finding the right home for your alternative fund

IQ-EQ's Justin Partington assesses the key elements of fund domicile selection

Fund domiciles in 2021: UK

Key facts and figures relating to why the UK is an emerging domicile

Fund domiciles in 2021: Malta & Cyprus

Key facts and figures relating to why Malta and Cyprus are domiciles of choice for small and emerging managers

Fund domiciles in 2021: Cayman Islands

Key facts and figures relating to why Cayman Islands is a well-regarded domicile

Fund domiciles in 2021: Guernsey

Key facts and figures relating to why Guernsey is considered a highly innovative domicile

Fund domiciles in 2021: Jersey

Key facts and figures relating to why Jersey is a fast and flexible domicile

Emerging managers: considerations for selecting your fund domicile

Launching a new fund is no easy task; don't let fund domicile selection add to the complexity

Fund domiciles in 2021: The Netherlands

The Netherlands is an important centre for pension funds and offers a light regime for smaller GPs

Fund domiciles in 2021: Ireland

Ireland is a domicile to watch thanks to its recent Investment Limited Partnerships reform

Fund domiciles in 2021: Luxembourg

Luxembourg is a tried and tested domicile, popular with LPs, but concerns are mounting over skills and talent levels

Shifting sands: the domicile dichotomy

On the surface, selecting a fund domicile is largely about catering to investor needs, however, just as the private capital fund space is ever-changing, fund jurisdictions are ever-evolving and appearances can be deceiving

IPEM 2021: The future of Europe

Rafaèle Tordjman, founder & CEO of Jeito Capital discusses Europe’s biggest challenges, and how Covid led to more investment in funds and companies

IPEM 2021: Sustainability as value creation 4.0

André Frei, chair of sustainability at Partners Group talks about the main trends within sustainability and why he doesn’t think the private markets will focus entirely on impact investing

IPEM 2021: Adapting to a virtual world

Klas Tikkanen, COO of Nordic Capital talks about adjusting to remote working through the pandemic, as well as the process of raising two funds virtually

IPEM 2021: Lessons learned from Covid

Philippe Poletti, CEO of Ardian France talks about how the firm managed the Covid crisis, and why sustainability is now at the core of every business strategy

IPEM 2021: Sustainability’s increasing importance

Alain Godard, CEO of the European Investment Fund talks about the increased importance of sustainability as well as EIF’s contribution to the sustainability agenda

IPEM 2021: Europe leads the way for ESG

Magnus Billing, CEO of Alecta talks about Europe being a leader for ESG, and why PE firms have a great opportunity to be catalysts in reaching the sustainability goals

IPEM 2021: PE’s big challenge

Cornelia Gomez, head of ESG & sustainability at PAI Partners talks about why measuring the carbon footprint of the portfolio is not enough

IPEM 2021: PE must embrace decarbonisation

Mathieu Chabran, co-founder of Tikehau Capital talks about decarbonising certain sectors and why those firms which only do it because they are forced to, will fail

IPEM 2021: The LP view

Michael Lindauer, MD of Allianz Capital Partners explains why LPs should stay calm and invest consistently

IPEM 2021: PE is ready

Claire Chabrier, president of France Invest discusses how the Covid pandemic has accelerated innovation, climate issues and social responsibility

ESG disclosure divergence

The FCA's climate-related disclosure proposals mark the first policy disclosure divergence in post-Brexit UK for private equity; how do the new rules stack up against the European Commission's SFDR?

Great techspectations

As private capital market tech solutions grow in number and functionality; how aligned are GPs internally when it comes to their expectations of technology systems?

Law school: litigation funds

Litigation funds are fast-becoming a fundamental part of the global justice system. While the 'assets' they manage differ greatly to those of traditional private capital funds, the way in which they operate is almost identical.

2025: PE’s digital golden year

In 2025, structured data exchange will be the norm for fund managers as PE moves away from Excel. The Drawdown explores the tech solutions making that future a reality

The evolution of HR

Attracting talent in an increasingly competitive landscape, nurturing and developing teams, navigating the post-Covid landscape - today's HR and talent practitioners have plenty on their plates

New tricks

Private equity's digital transformation is gathering speed, and an important part of this evolution are the new tech solutions coming to market. Here we profile three of the latest innovations

ELTIFs revisited

The ELTIF structure was so unpopular that the European Commission put it under review. However, a recent spate of new launches means the regulator could have been too hasty.

You can’t stand under my umbrella

The Greensill scandal has thrown light on umbrella structures, which are now under review by the FCA - what could this mean for private equity?

All aboard

Setting up a new fund comes with all manner of challenges and complexities; Highvern aims to take the pain out of onboarding with your fund administrator

Role Call: D&I officer

The diversity & inclusion role is emerging in private equity, but how necessary is a dedicated officer?

What do LPs do with all the data?

A recent webinar discussion explored what information is being transmitted from GPs to LPs

Be an architect (not a gardener)

Launching credit strategies is back in vogue, but this time around careful consideration is needed when it comes to designing and scaling operations

In conversation: Cyber security, an ESG concern

A recent webinar discussion explored the treatment of cyber security as an ESG practice

In conversation: Do we even need standardisation?

A recent podcast discussion explored technological advances in data transmission, and asked if standardised reporting is still necessary?

Diligencing diversity

Gender diversity is a key issue for private capital markets, but are LPs digging deep enough when diligencing fund managers?

A guide to improving gender diversity

What can PE houses do to better their employee ratios? Sasha Graham of Equality Group provides her top insights

A wild ride

Estimating fair value has never been more important or challenging

Right-sourcing

A year of remote working has catalysed already changing attitudes when it comes to recruitment versus outsourcing

Agile fund management

The major advantage of setting up something fresh is having a clean slate with the ability to adopt the latest learnings and technologies. This is exactly what fund administrator Highvern did when it set up its processes and ways of working

Green washing up

The SFDR aims to combat greenwashing, but what is actually expected from PE firms, and what do the new rules mean for operational leaders?

The Techwork

Private equity's digital transformation has undoubtedly been catalysed by events of the past year

Social behaviour

While GPs use social media to give an insight into their firms, LPs now use it as part of their ODD. But where are they looking, and what for?

Failure to launch

Designed to increase the flow of retail capital into long term funds, ELTIFs have had few takers, but could a renewed focus from the European Commission see these structures gain popularity?

Operational Lens: Agathos Fund II

A detailed inspection of the operational function's input in Agathos Management's recent first fund close on its sophomore fund