Private Capital and Systemic Risk
Private equity’s leverage, opacity, and continuation vehicles raise systemic risks that may erode returns and complicate portfolio management. The post Private Capital and Systemic Risk appeared first...
View ArticleCapital Deployment Matters: A Smarter Way to Assess PE Returns
Uncover how idle capital distorts private equity returns and why measuring what’s actually put to work gives investors a truer picture of performance. The post Capital Deployment Matters: A Smarter Way...
View ArticlePrivate Markets, Public Promise: Africa’s Investment Inflection Point
For global investors, the signal is clear: Africa’s moment is here. The only question is, will you be part of building it? The post Private Markets, Public Promise: Africa’s Investment Inflection Point...
View ArticlePrivate Equity Returns Without the Lockups
Explore a new approach to replicating private equity returns with daily liquidity, combining futures, dynamic asset allocation, and risk management overlays.
View ArticlePrivate Equity at a Crossroads: A Conversation with Ludovic Phalippou
Oxford professor Ludovic Phalippou challenges the private equity status quo in a candid discussion on performance, transparency, and the future of the industry.
View ArticleBig Funds, Small Gains: Rethinking the Endowment Playbook
Endowments heavily invested in alternatives are falling well behind low-cost indexed portfolios.
View ArticlePrivate Equity and Private Debt: Two Sides of the Same Coin
Explore how the growing convergence of private equity and private debt is transforming risk dynamics, return strategies, and regulatory concerns across the private capital landscape.
View ArticleQuality of Earnings: A Critical Lens for Financial Analysts
Quality of Earnings: By approaching financials with this sharper lens, analysts can not only anticipate problems but also identify opportunities that align with long-term value creation.
View ArticleHow Do Shareholder Loans and Intangible Assets Impact PE Financials?
Investment professionals must carefully consider how shareholder loans and intangible assets influence financial ratios, as these factors materially shape the post-buyout financial landscape.
View ArticleDecoding PE Buyouts: The Full Financial Picture is in the Consolidated Accounts
As the PE landscape evolves, investment professionals must understand how to correctly capture the full picture of a portfolio company’s performance.
View ArticleVolatility Laundering: Public Pension Funds and the Impact of NAV Adjustments
Are public pension funds truly delivering the returns they claim?
View ArticleWhat Lies Beneath a Buyout: The Complex Mechanics of Private Equity Deals
Private equity buyouts are complex financial maneuvers. By understanding the structuring that lies beneath these transactions, stakeholders can navigate the intricate world of PE buyouts with...
View ArticleAgency Risk in the Lower Middle Market: A Guide for PE Professionals
If there was a Wild West in Private Equity (PE), it would be the Lower Middle Market (LMM) — the ecosystem of companies with revenues between $5 million and $50 million. The LMM offers lucrative...
View ArticlePrivate Equity: In Essence, Plunder?
To understand what private equity is at its worst is a call to action, personally and professionally.
View ArticleTimes Change: The Era of the Private Equity Denominator Effect
How can investors address the denominator effect in private equities?
View ArticleMergers and Acquisitions in 2024: Headwinds to Tailwinds?
With wide spreads, an improved playbook for assessing deal risk, and the potential for more M&A activity to materialize, 2024 could be a strong year for merger arbitrage performance.
View ArticleThe 60/40 Portfolio Needs an Alts Infusion
How can investors supplement the traditional 60/40 stock/bond portfolio with allocations to alternatives?
View ArticleBook Review: Plunder
Brendan Ballou presents a meta-analysis of the worst of private equity investment practices, thus compelling investors to take a deeper look into their illiquid private equity commitments.
View ArticleBook Review: These Are the Plunderers
The PE playbook is always the same: Borrow money to acquire the firm, saddle it with debt, and extract exorbitant management fees.
View ArticlePrivate Capital: Lessons from the Conglomerate Era
With their sprawling empires, the largest alternative asset managers have adopted strategies that borrow extensively from the octopus-like corporate conglomerate business model.
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