Tag Archives: Private Equity
We need IPOs and cash buyers not just continuation funds for private assets!
The FT is good in explaining this point – one that appeals to my common sense. If you are selling companies to a fund you control, it is you not others who decides what the company is worth. How long … Continue reading
Posted in pensions
Tagged Continuation fund, Fund, fund of funds, IPO, Private Equity
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Wares to be wary of! Our skills must match the private dealmakers’.
Patrick Jenkins has written a great opinion piece, inspired it seems by the acquisition of one insurance company (PIC) by a private equity company Athora. He is also struck by Legal & General, who last week struck a deal with … Continue reading
The privilege of wealth is free to everyone through pensions!
The headline in today’s FT reminds me that I will be seeing Toby Nangle speak again at lunchtime. Toby now writes for the FT and he understands better than anyone (but Ludovic Phallipou ) what a waste of money most … Continue reading
Posted in pensions
Tagged Pension Managers, Pensions, Private Equity, toby nangle, Wealth
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Should private equity fill the pot holes on the road to retirement?
The FT report that the Private Equity lobby in the United States can’t wait for President Trump V 2.0. So it’s time to tap people’s pension pots. It should be noted that the existing purchasers know what they are … Continue reading
Scale improves VFM but not a pension’s capacity to invest long-term
I’ve had an intriguing question from a friend, perhaps prompted by my recently published submission. What proportion of PSH assets would be in Private Equity or infrastructure? To what extent would the latter vary at different amounts of AUM? Private … Continue reading
Private equity is not for dummies
In this weekend’s FT, Gillian Tett sets out the problems she has with the determination of a state court of Louisiana (in New Orleans) , throwing out demands for greater disclosure and transparency from the managers of and those funded … Continue reading
Labour’s private equity tax puzzler
It’s a rich person’s problem how to minimise tax. Private Equity managers are rich and they stay rich by managing their tax affairs, as they are entitled to , by using non-dom tax concessions and having their revenue taxed as … Continue reading
Private equity needs purpose (not debt)
Writing in the FT this weekend John Plender observes Because asset managers in public markets are widely assessed against index benchmarks, they engage in momentum trading, constantly have to chase stocks that are rising strongly but in which they … Continue reading
Investing in illiquids requires better information
Conversations about illiquid investments have been continuing for some time. My interest in what has become a key element of Government thinking was sparked by this excellent conversation at a Hymans Robertson conference in January I’m impressed by a … Continue reading