PE leaders voice worries October 13, 2011 PRIVATE equity leaders said their industry could take years to return to blockbuster buyout deals yesterday, as funds shrink and deal numbers come back to earth in the wake of the financial crisis. Lionel Assant, Blackstone’s senior managing director in private equity, told the annual summit of the British Private Equity and Venture Capital Association [...]
Cohen’s warning over social problems October 13, 2011 Private equity veteran Sir Ronald Cohen, now an adviser to Prime Minister David Cameron, has claimed that British society is in crisis. Cohen, who is helping to set up the Big Society Bank, told the BVCA: “Despite the news around financial markets and capital markets there are some even more fundamental issues. It is not [...]
Red tape is killing start-ups, says Truell October 13, 2011 Veteran city investor Edmund Truell has issued a stinging critique of how regulation is stifling enterprise in Britain and Western Europe. Truell, who runs Pension Corporation, which charges a premium to take over UK pension scheme liabilities, said that around 60 per cent of his staff are employed “to keep the regulators happy… If you [...]
Hoberman: EU must lower legal barriers October 13, 2011 European legal barriers risk holding back the economic recovery, the co-founder of lastminute.com told the BVCA. Brent Hoberman, who went on to set up interiors business Mydeco, said the rules made it harder to grow businesses and for them to expand beyond their home country. “What the policymakers could do is enable companies to sell [...]
Credit Suisse shuts CMBS loan division October 13, 2011 Credit Suisse is closing its commercial mortgage-backed securities (CMBS) loan-origination unit, affecting around 50 jobs, but will continue its secondary trading operation, according to a source close to the matter. The bank has not structured a CMBS offering this year, but has made loans that were contributed to other transactions since it restarted its commercial [...]
3i chief picks out growth nations October 13, 2011 Africa, Indonesia, Mexico and Turkey will be among the next group of emerging investment locations, according to the head of listed private equity firm 3i. Michael Queen said there are still opportunities in China but warned that the number of private equity funds was outpacing transactions. “There are now four funds for every deal done [...]
Carlyle chief’s call over fundraising October 13, 2011 Private equity fundraising has hardly changed in 40 years, Carlyle Group’s co-founder told the BVCA. David M Rubenstein, managing director, said the influence of sovereign wealth funds had increased and high-net worth individuals were using feeder funds more often. “The only thing that has really not changed in the entire universe is private equity fundraising.” [...]
PWC HOSTS AWARDS TO MARK BEST PRACTICES October 13, 2011 AS anyone who’s attended a City awards ceremony will know, it’s often hard to keep the attention of a room full of businessmen and women who are used to being online 24/7. But ITN news anchor Mary Nightingale had no such trouble on Wednesday night when she hosted the 9th annual PwC Building Public Trust [...]
Surprise rise in UK exports over August October 13, 2011 UK EXPORTS increased to their highest level ever in August, as the economy fared unexpectedly well, according to data out yesterday from the Office for National Statistics. A 0.5 per cent increase in total exports compared with July was recorded, taking the total value up £191m to £40.77bn. Meanwhile, imports fell by £205m, also 0.5 [...]
Chinese trade surplus halved as sales growth to EU slows October 13, 2011 DEMAND growth both globally and in domestic Chinese markets declined in September, resulting in a narrowing of China’s trade surplus, official figures revealed yesterday. At $14.5bn (£9.2bn), the surplus stands at less than half the $31.5bn seen in July and is down from $17.8bn in August. Trade did grow, with exports up by 17.1 per [...]
