Fund Management

Boasting one of the largest institutional venture capital fund portfolios in Europe, the European Investment Fund is having to permanently balance commercial investment considerations with its political mandate. Not an easy task, finds Ricky Morton.

More than enough has been written about the broken promise that was Germany's private equity market. The problem is: who made that promise? Not the local practitioners who continue to build out the franchise of the asset class not so much in spite, but because, of the tough times the economy is experiencing. Philip Borel visited Germany to find out who's doing what and why.

Americas 2003-09-01 Staff Writer <strong>Americas<br> Monitor</strong><br> <sec level="2"><strong>Collateral damage</strong><br> <quotation><bold>The ideological backlash to Enronitis is threatening to stifle America's entrepreneurial spirit, wit

Half-year results of the publicly quoted Standard Life European Private Equity Trust reveal an improvement of net asset value over the six months to 31 March.

The Swiss private equity group has sold a large enough part of its portfolio to CSFB Private Equity to enable it to repay a SFr325m loan to Swiss Life.

Drawing on advice from Capital Dynamics and Morgan Stanley, AIG has placed $250m in triple-A rated bonds backed by private equity fund investments as part of a $1bn securitisation.

As crisis talks with Swiss Life continue over the firm’s future, the Swiss private equity firm has sold its interest in a US venture partnership via the secondaries market.

With bank loans, bonds and other interest-related forms of finance off-limits to many Middle Eastern investing institutions, equity investments, including private equity, are the focus of activity. But Western private equity professionals seeking access to the vast capital reserves of the Middle East must first understand how shari'ah applies to the asset class. Simon Sheppard examines a distinctly Islamic form of compliance.

American turnaround and restructuring consultants are expanding operations in Europe, and private equity firms are prime targets. Many of their clients, it turns out, are US private equity shops that have bitten off more than they can chew on the Continent and in the UK. Are these pond-crossing trouble seekers headed toward a similar culture shock? David Snow investigates.

Björn Savén is the chairman and CEO of Industri Kapital, one of the firms that pioneered big buyouts in Europe. Now raising its fifth fund, the firm is having to get used to the scrutiny that the new mood amongst private equity investors has instilled in the market. Philip Borel talked to Savén about investing, investments and investors in this environment.