Hints and tips:
...In fact, if there is one thing that everyone from activists to LPs and GPs can agree on it is that better data is a priority....
...We think this risk is also low, considering a broad range of liquidity and capital solutions that are available to both GPs and LPs....
...Uncharismatic GPs should take comfort. Robots could, in future, save their prospectus from a premature encounter with an LP’s bin....
...Happily for GPs, this also delays when client, or limited partner (LP), money enters the fund, artificially boosting returns....
...The conclusion one might draw from this data is that GPs are simply overvaluing their assets. But, if anything, new analysis shows that GPs skew toward the conservative....
...Their central conclusion is that “GPs do not appear to manipulate interim returns to fool their LPs, but rather because their LPs want them to do so”....
...As sell-to-yourself deals have surged, these GP-led transactions now account for over half the market, according to Jefferies....
...It is sometimes labelled a “continuation fund” or even, in the industry’s often-inscrutable jargon, a “GP-led secondary” or “adviser-led secondary”....
...Groups like Dyal Capital Partners, Blackstone and Goldman Sachs’s Petershill unit are in fierce competition to buy stakes in private equity GPs....
...Earlier this year, United Technologies sold its Military GPS business to BAE Systems for $1.9bn and Raytheon sold its airborne tactical radios division, also to the British defence company....
...The plan failed after the US communications regulator suspended its licence in 2012 as its services interfered with GPS signals used in the farming industry....
...Blackstone is one of the three leading groups in GP deals....
...Those LPs require the managers to put in their own capital, somewhere between 1 and 5 per cent of the fund size, to ensure interests are aligned. That figure can easily run to more than $100m....
...But today’s mismatch between LP commitments and the underlying investments opportunities is leading to a vacuum of funds that can provide capital to SMEs....
...“We want LPs to be in a position to know when GPs are behaving badly and we want LPs to be in a position to act.” * This article has been amended to correct the expected timing of the ILPA’s guidelines...
...GPs had the good fortune to make up the shortfall in margin expansion through unforeseen multiple expansion....
...But to best serve their investors’ interests, LPs (investors) should hold firm on the standard 8 per cent hurdle rate.”...
...The two businesses behind the GPS-based Pokemon Go game are in hot water in the US for the location of some places where players can collect virtual monsters....
...They want to look across the table and know that the GP is working for their LPs, and not just for themselves....
...The Swiss company, which came to fame selling GPS devices but has joined the craze for fitness trackers, said profits had fallen 37 per cent to $132m, or 70 cents a share, ahead of analysts’ forecasts for...
...Expect more GP/LP collapses. “Short the GPs.” • Shale bust creates excess capacity. Natural gas and NGLs production growth stalls out, expect low-to-no growth....
...For instance, Figure 58 shows that LP growth for 1996 was revised up from roughly 1% originally to close to 3% eventually. (Citi GPS) —— 9....
...It owns 2 per cent interest in the MLP (along with some portion of the LP shares called “units”). The game is that the MLP adds assets that leads to growth in the dividend (called a “distribution”)....
...Mr Bonomi’s Investindustrial and its partners – Brazilian investment company GP Investments and South African hotel magnate Sol Kerzner – had offered €23 a share....
...Mr Bonomi’s other partners include his Investindustrial investment group, Brazilian investment company GP Investments, and South African hotel magnate Sol Kerzner....
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