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A UNIQUE PERSPECTIVE ON THE ISSUES AND OPPORTUNITIESFACING INVESTORS IN PRIVATE EQUITY WORLDWIDE
Global Private Equity Barometer
SummER 2008
 
SummER 2008
2
Coller Capital’s
Global Private Equity Barometer 
Coller Capital’s
Global Private Equity Barometer 
is a uniquesnapshot o worldwide trends in private equity – a twice-yearlyoverview o the plans and opinions o institutional investorsin private equity (Limited Partners, or LPs, as they are known)based in North America, Europe and Asia-Paciic.This edition o the
Global Private Equity Barometer 
capturedthe views o 103 private equity investors rom all round theworld. The
Barometer’s
indings are globally representative o the LP population by:Investor locationType o investing organisationTotal assets under managementLength o experience o private equity investing
Contents
Key topics in this edition o the Barometer include: LPs’ returns & appetite or PE Pace o GP investment Attractive areas or GP investment Distressed debt and mezzanine First-time PE investors in the uture The market or LP talent The secondaries market Sovereign wealth unds
 
SummER 2008
3
The credit crunch has aectedLPs’ 'lietime' PE returns
The Summer 2007
Barometer 
saw a ‘spike’ in the number o LPs reporting net returns o 16%+ rom their whole privateequity portolio since they began investing, but this has largelydisappeared.This eect is particularly evident in North American andAsia-Pacic buyouts: or North American buyouts, just under hal (45%) o LPs nowreport ‘lietime’ returns o 16%+, whereas nearly two-thirdsdid so in Summer 2007. or Asia-Pacic buyouts, only a quarter (26%) o investorsnow report ‘lietime’ returns o 16%+, compared with hal o investors in Summer 2007.
(Figure 1)
LPs achieving net returns of 16%+ from their portfolios sincethey began investing
Summer 2006Summer 2007Summer 2008
Despite the downturn,appetite or alternative assetsremains strong
Despite the downturn, hal (49%) o private equity investorsplan to increase their allocation to
alternative assets
in thecoming year – and well over one third (38%) plan a higherallocation to
 private equity 
.
LPs’ planned changes to alternative asset allocationsin the next 12 months
(Figure 2)
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