Toby Mitchenall
The French firm's consolidated revenues have surpassed €4bn for the first time. Debt levels are not a concern either at portfolio or group level, the firm has said.
The publicly traded alternatives manager reportedly cut around 100 jobs towards the end of 2008, as its share price was hitting an all-time low.
Unpredictable capital flows and managers often relying on minority stakes are two reasons why the banking giant’s private equity group will only increase exposure to emerging markets private equity at ‘a measured pace’.
A continuing bear market could leave the London-listed buyout group with net debt to equity levels of more than 70%, according to analysts at Morgan Stanley.
As the industry steels itself against a potential regulatory backlash in Europe, certain members of the European Parliament, including Poul Nyrup Rasmussen, have railed against the pro-private equity stance of the internal markets commissioner.
Statistics suggesting that 62% of this year’s corporate defaults are private equity-backed are ‘entirely misleading’ according to the Washington-based industry body.
As part of its global efficiency drive, the firm’s entire Chinese investment team will be based in Beijing.
A JPMorgan Cazenove analyst has said the listed buyout group needs to divest to de-leverage and resist the temptation to make any new investments.
LPs are turning away existing relationships as they bump up against their target allocations. Almost two-thirds will sell interests on the secondaries market to focus resources on the best GPs, according to an LP survey by Coller Capital. There has been a 'growing recognition' among LPs of the importance of being with the best GPs.
Investcorp has become the latest firm to take cost-cutting measures as it plans to lose 90 staff across its real estate, private equity, hedge fund and technology businesses. Earlier this week the firm invested in UK debt management company TDX Group.