Private Equity Fundraising Trends
James Burdett and Chris Gardner of the Investment Funds Group of Baker & McKenzie LLP, London, highlight some of the trends and issues facing fund managers in launching new private equity funds in the current climate.
The private equity industry has been hit hard by the financial crisis. Although 2010 started more positively than 2009 ended, a return to the industry's heights in 2006, fuelled by cheap debt and significant private equity fund contributions, still seems a long way off. Deal flow remains inconsistent and debt difficult to obtain. Investors are looking more closely than ever at risk and return. Regulators are focusing greater attention on the industry, and alternative competing structures and asset classes are becoming more common. As a consequence, fund managers are having to be increasingly creative and work that much harder to ensure that fundraising efforts have a successful outcome.
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