Private Equity
July 2010
Gulf Venture Capital Association Annual Report 2009
    Posted by Zulfi Hydari on July 21st, 2010 under category Private Equity

'Private equity fundraising in H1'2010 is already equal to fundraising in FY2009. This would suggest that private equity activity is expected to gradually increase after two turbulent years for the regional industry' said Mr. Nasser Saidi from Hawkamah during the launch of the GVCA Annual Report 2009.

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July 2010
Private equity to emerge stronger
    Posted by Zulfi Hydari on July 19th, 2010 under category Private Equity

Access to capital is unlikely to be a problem for private equity firms in the Middle East as the region is flush with liquidity and regional GDP is set to grow 3.5% in 2010 according to a report by Insead.

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July 2010
Private equity needs structural changes
    Posted by Hasan Zulfiqar on July 10th, 2010 under category Private Equity

The market for leveraged buy-outs has dried up forcing private equity firms to focus on growth capital and equity driven transactions according to an article by Robin Wigglesworth in the Financial Times. Wigglesworth believes the scarcity of credit is putting pressure not only on returns but also on the buyout model which is unsustainable and will lead to the disappearance of a substantial number of private equity funds.

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June 2010
Buy-out specialists take another look
    Posted by Hasan Zulfiqar on June 23rd, 2010 under category Private Equity

'In the world of luxury goods, the ocean-going motor yachts that fill the harbor at Monaco every summer have to be the ultimate symbol of lavish excess' says an article in the Financial Times. Private equity investors are still injecting fresh equity in luxury yacht brands and the most recent deal involved a £25m injection into Sunseeker, one of the best-known luxury yacht brands.

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June 2010
Making a date with a venture
    Posted by Hasan Zulfiqar on June 15th, 2010 under category Private Equity

London's Mayfair hotel played host to 70 investors gathered for a chance to meet the UK and Ireland's 30 hottest technology start-ups says a Financial Times article. The UK and Ireland Tech Tour is a two-day speed-dating event that introduces young technology companies in need of money to potential investors.

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June 2010
Money can't buy love
    Posted by Hasan Zulfiqar on June 10th, 2010 under category Private Equity

'US Congress is considering removing certain tax perks that have helped inflate the private equity bubble' says The Economist. The legislation in question is the 'American Jobs and Closing Tax Loopholes Act of 2010' and the change is set to impact the treatment of 'carried interest'.

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May 2010
Investors target emerging market private equity
    Posted by Hasan Zulfiqar on May 24th, 2010 under category Private Equity

'More money is set to pour into private equity in emerging markets, as investors increase their commitments to funds targeting deals in China, India and Brazil says Martin Arnold in his Financial Times article. The news item covers the research conducted by

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April 2010
Yahoo! Middle East CEO shares insights at private equity summit
    Posted by Zulfi Hydari on April 14th, 2010 under category Private Equity

According to Ahmed Nassef, Vice President and Managing Director, Yahoo! Middle East, web based activity in the Middle East is set to explode in the next decade. The recent acquisition by Yahoo of the Middle East website, Maktoob, certainly points in that direction. The region is on the radar of multinations because the number of web users is increasing quickly and has hit approx 50m at last count. In comparison the total reader

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April 2010
Private Equity Summit - Regional CEO Panel
    Posted by Zulfi Hydari on April 13th, 2010 under category Private Equity

Outlook Saudi Arabia, a Private Equity Summit hosted by the Saudi General Investment Authority (SAGIA), invited three regional CEO’s to examine new opportunities and challenges for private equity in Saudi Arabia.

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March 2010
PEI Middle East Private Equity Update: The outlook for 2010 remains challenging
    Posted by Zulfi Hydari on March 17th, 2010 under category Private Equity

Globally, 2009 was the worst year for fundraising since 2004. A recent US survey shows that as many as 40% of LPs interviewed made no new commitments in 2009. This would explain the $246bn raised by 482 funds, down 61% from

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January 2010
Nordic Private Equity Congress: “Business and Investment Opportunities in Emerging Markets”
    Posted by Hasan Zulfiqar on January 25th, 2010 under category Private Equity

"Saudi Arabia is open to business and is welcoming international business activities in terms of investments, partnerships and technology supply", said Mr. Abdallah Y. Mouallimi during a breakfast session at TiE Nordic PE Congress 2009. He further added that the Gulf Cooperation Council (“GCC”) generates GDP output of cUS$800 bill

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December 2009
The "new entrepreneurs" of the Middle East must face up to the crisis or fail
    Posted by Zulfi Hydari on December 28th, 2009 under category Private Equity

The "new entrepreneurs" of the Middle East must face up to the crisis or fail.

Private equity firms need to rethink their business models in order for the industry to have a bright future

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December 2009
PE World MENA Panel Discussion: Saudi Arabia as the region's powerhouse
    Posted by Hasan Zulfiqar on December 06th, 2009 under category Private Equity

Private Equity (PE) industry in Saudi Arabia is set to grow into a multi-billion dollar industry over the next 3-5 years with a stable medium term outlook, according to panelists at the Private Equity MENA World Conference. The panel discussed the prospects of Saudi Arabia surpassing the neighboring PE markets in size and scale by 2

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November 2009
To suggest private equity fees (apart from carried interest) pay for Ferrari’s is absurd.
    Posted by Zulfi Hydari on November 18th, 2009 under category Private Equity

The subject of private equity fees stirs up much emotion amongst industry participants and commentators. It's frustrating for practioners to see news articles (like the one attached) confusing the rationale for charging fees with the quantum being charged. Most articles cite a few high profile examples and then pr

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November 2009
MENA Investor Summit 2009
    Posted by Hasan Zulfiqar on November 08th, 2009 under category Private Equity

The 1st MENA Investor Summit took place in Jeddah on the 1st and 2nd of November 2009. The event brought over 150 investors from across the region and introduced them to pre-selected 28 companies.

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October 2009
Global Investor Attitude to Private Equity
    Posted by Hasan Zulfiqar on October 20th, 2009 under category Private Equity

A recent survey the British Venture Capital Association (BVCA) examines the attitudes of over 100 LPs towards investing in private equity funds over the next two years. The results are mixed with investors intending to decrease allocations in the short term but expressing positive sentiments about their long-term allocations to private equity funds.

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October 2009
Investors shun PE funding in favour of minority stakes
    Posted by Zulfi Hydari on October 08th, 2009 under category Private Equity

Emirates Business 24-7, 04 October 2009

Private equity investors shied away from Middle Eastern targets in the three months to September following limited activity in the region in t

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September 2009
Gordon Gecko taught us “Greed is good. What will be his mantra this time around?
    Posted by Zulfi Hydari on September 27th, 2009 under category Private Equity

Oliver Stone and Michael Douglas are back reprising the role of Gordon Gecko in Wall Street 2. The original film shot in 1987 (yes it was 20+ years ago!) was a tale about greed, excess and unchecked ambition which encouraged many young people at the time to pursue a career in high finance.

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September 2009
A marriage of convenience - Maktoob and Yahoo
    Posted by Zulfi Hydari on September 26th, 2009 under category Private Equity

Yahoo gave web entrepreneurs in the Middle East much to cheer about by recently announcing its acquisition of Maktoob,  a regional competitor: see Arabian Business.

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September 2009
Challenges for Private Equity in GCC - Sultan AlQassemi
    Posted by Zulfi Hydari on September 26th, 2009 under category Private Equity

Sultan Al-Qassemi comments in his blog, Challenges for Private Equity in the GCC, about the nature and accessibility of private equity capital in the Middle East. His perspective is interesting as he himself is an experienced investor and knows the regional landscape very well.

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September 2009
Super talent leaving London?
    Posted by Zulfi Hydari on September 25th, 2009 under category Private Equity

Fiona Sheffield of E&Y on CNBC talking about threat of hedge fund exodus from London.

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September 2009
Are private equity fees justified?
    Posted by Zulfi Hydari on September 25th, 2009 under category Private Equity

The subject of private equity fees stirs up much emotion amongst industry participants and commentators. It's frustrating for practioners to see news articles (like the one attached) confusing the rationale for charging fees with the quantum being charged.

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September 2009
Private equity: good or bad?
    Posted by Zulfi Hydari on September 22nd, 2009 under category Private Equity

Interesting interview on SKY News with private equity spokesperson Catherine Woodthorpe. It is worth a look if you want to learn more about private equity and hear an industry insider defend its reputation.

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September 2009
Dubai World litmus test for Dubai Inc
    Posted by Zulfi Hydari on September 22nd, 2009 under category Private Equity

Dubai World - the state-owned conglomerate - with interests ranging from ports to property and investment, is being watched closely as it symbolises the acute problems facing Dubai in the wake of the financial crisis.

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September 2009
Private equity groups adapt to new landscape
    Posted by Zulfi Hydari on September 21st, 2009 under category Private Equity

A number of large private equity firms including Candover, Permira and TPG have recently frozen or downsized their latest buy-out funds.

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September 2009
Private equity investors focusing on secondary market
    Posted by Zulfi Hydari on September 21st, 2009 under category Private Equity

The financial crisis has adversely impacted private equity fundraising but a recent survey of 250 investors by Almeida Capital found that 78 per cent of investors had either bought a private equity position in the secondary market or expected to do so soon.

 

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August 2009
Mideast private equity declines sharply but UAE still tops GCC ranking
    Posted by Jawad Ahmad on August 04th, 2009 under category Private Equity

The sheer breadth and depth of the financial crisis has taken everybody by surprise and financial services are amongst the worst hit sectors. Nevertheless, even in these turbulent times the UAE has emerged as the best performing geography for private equity deals according to a report by Business 24|7 but the report also went on to say that overall M&A and private equity activity declined sharply in H1 2009.

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June 2009
Changing Role of Private Equity Post Economic Crisis
    Posted by Adnan Adil on June 02nd, 2009 under category Private Equity

There is little doubt as to the role expanding credit has played in bringing about the current recession. An increasing number of economists believe this recession is the start of a long-term deleveraging of the global economy. They are not without reason: US credit market debt as a percentage of GDP currently stands at 350%. The only other significant rise historically was during the Great Depression.

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April 2009
Private Equity in Emerging Markets continues to attract LP's attention
    Posted by Hasan Zulfiqar on April 16th, 2009 under category Private Equity

The Emerging Markets (EMs) Private Equity Survey is conducted by the Emerging Markets Private Equity Association on an annual basis. The survey researches the investment patterns, likes and dislikes of Limited Partners, representing North America (47%), Europe (41%) and Rest of the World (12%), for investment flows into the Emerging Markets.

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April 2009
Private Equity: the industry continues to mature
    Posted by Hasan Zulfiqar on April 07th, 2009 under category Private Equity

Private Equity is well positioned in these difficult times to capitalize on lower valuations and provide much needed liquidity when funding is scarce but growth still anticipated. This is according to the 2008 annual report by Gulf Venture Capital Association (GCVA)

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