Expert Commentaries
Comment: Technology’s sustainability challenge
It is time to embrace the opportunities that come with the technology industry’s shortcomings, according to Bettina Denis, head of sustainability at Revaia
Continuation funds shine as sponsors crave liquidity – Houlihan Lokey
The trend comes as sponsors deploy creative strategies to optimise portfolios and create liquidity
Comment: PE taps into flourishing wealth management sector
With an ageing population and burgeoning market, Houlihan Lokey’s Christian Kent discusses the rise of private equity interest in the wealth management sector
ESG considerations are here to stay
Dasseti’s Billy Cotter and Evan Crowley discuss the most talked-about acronym in the private equity industry
Transforming portfolio monitoring and ops with tech
Establishing a centralised point of contact and a single source of truth is critical for portfolio monitoring and reporting, says Pratap Narayan Singh, senior director and head of private markets at Acuity Knowledge Partners
The power of cyber risk intelligence in private equity
Proactive cyber risk management is essential to preserving value across the investment lifecycle, says KYND chief executive and founder Andy Thomas
Evolving retail trends
Technology has an integral role to play as private markets adapt to the needs and expectations of retail investors and HNWIs, according to Yann Magnan, CEO and co-founder of 73 Strings, and Jonathan Balkin, co-founder and executive director of Lionpoint
Navigating AI in private equity
Frister Haveman from Gain.pro discusses the role GenAI has in the private equity market and why it should be embraced, not feared
Case study: A customised approach
Kim Carter from LKCM Headwater and Passthrough’s Ben Doran explain how collaboration is key for a successful partnership
Entering a transformative era
AI-based deal-sourcing tools can automate market mapping and company research, giving firms the time they need for higher-value activities. Ruth Eagle is head of origination at CBPE, a client of deal-sourcing platform Sourcescrub
Q&A: The digital edge
Yair Erez and David Poole, partners at Stanley Capital, discuss how the firm is using a combination of proprietary and third-party technology to accelerate target identification and expedite deal conversion
Q&A: A model idea
A bespoke solution was key for ECI’s deal origination process according to Suzanne Pike, partner and head of origination at the firm
Q&A: Building a tech Nexus
NorthEdge’s Lucie Mills and James Hales discuss how the mid-cap GP is using technology to support deal origination, identify potential deal targets and enrich various interactions
Q&A: A journey of discovery
Philippe Laval, chief technology officer at Jolt Capital, discusses its proprietary software platform Ninja, and reflects on the highs and lows of bringing the system to life
Q&A: Transforming with tech
David Floyd, vice-president at global investment firm Permira, talks to Real Deals about how the business is harnessing advanced analytics and AI to drive competitive advantage internally and in its funds’ portfolio companies
In conversation: Kerry Baldwin, IQ Capital
The VC co-founder shares useful tips for women thinking of entering the venture capital industry
IWD: Helen Steers, Pantheon Ventures
To celebrate International Women’s Day, Real Deals catches up with Pantheon partner Helen Steers to discuss what it means to be a woman in private equity
In conversation: Future Business Partnership’s founders discuss achieving B Corp status
Real Deals sits down with founders Tracey Huggett and Vish Srivastava to understand the motivation for the certification and how it will impact its talent and investment strategy
CEE Report 2024: Forging a partnership
Max Cancre, director at TA Associates, and Filip Berkowski, investment partner at MCI Capital, speak to Real Deals about how their collaboration has yielded success
CEE Report 2024: Building champions
Real Deals speaks to MidEuropa’s operating partner Alain Beyens about how the Central Europe private equity firm taps into its local expertise to create international success
CEE Report 2024: Getting down to work
Pawel Gierynski and Stephen Richmond of Abris Capital Partners talk to Real Deals about capitalising on opportunity in Central Europe with market knowledge, technology and ESG
Expert View: Are minority investments gaining ground on majority deals?
Debevoise & Plimpton partners E Raman Bet-Mansour and Dominic Blaxill, and Jake Grandison, associate, explore whether minority investments are set to become the new majority and what GPs need to consider before undertaking such deals
TMT Report 2024: Wired for investment
Chris Baker, Aylesh Patel and Oliver Schofield, investors at leading UK midmarket private equity firm LDC, on why TMT businesses remain an attractive opportunity for private equity and the key trends driving M&A in the sector
TMT Report 2024: Leading lights
Real Deals speaks to James Searby of Directorbank about how finding the right talent can boost the growth of technology businesses
Organic Growth: Foresight and Partners Group reveal their tech playbooks
In this Organic Growth special, we speak to Foresight and Partners Group about how the GPs’ value creation strategies led to their successful exits of Fresh Relevance and Civica respectively
Q&A: Reimagining infrastructure
Real Deals catches up with MML Infrastructure’s co-managing partners Andrew Honan and Sharand Maharaj to discuss how private equity expertise supports the GP’s infrastructure strategy
Comment: The craft of commercial due diligence
James Tetherton, senior partner at GRAPH Strategy, explains how CDD can make the difference in an increasingly complex deal landscape
Q&A: Tapping into revenue
Jennifer Murray and James Salmon, Shawbrook, discuss the bank’s new recurring revenue loan offering
Comment: Which UK sectors are most exposed to headwinds?
Alex Cadwallader, director – head of south and offshore, Leonard Curtis, considers the headwinds facing key UK sectors in 2024
End of Year Review: Ulrik Smith, FSN Capital Partners
Ulrik Smith, co-managing partner at FSN Capital Partners, sees decarbonisation continuing to shape the PE landscape in 2024
End of Year Review: Krzysztof Kulig, Innova Capital
Krzysztof Kulig, senior partner at Innova Capital, discusses latest fund Innova/7, benefits of nearshoring for Poland, and PE’s growing role in managing its investments
End of Year Review: Dirk Markus, Aurelius
Dirk Markus, founding partner at Aurelius, tells Real Deals that PE has gone back to basics as financial engineering drops in importance
LPs’ appetite for PE increases – Montana Capital Partners
LPs opts for secondaries as key strategy, CIO Eduard Lemle tells Real Deals
Industrials Report: Powering ahead
Mark Howden and Will Scales, investment directors at LDC, discuss how industrials businesses are taking advantage of opportunities for growth while navigating challenges, including supply chain risk and skills shortages
UK public formal sale processes ramp up – Pinsent Masons
Life sciences companies account for 40% of processes launched in 2023, M&A expert Adam Cain tells Real Deals
Humatica Corner: What makes a good private equity CEO great
a good CEO has the potential to supercharge the growth of your business. Identifying the key traits that makes a good CEO is not simple
DE&I: Not just a tickbox exercise
Fleur Hicks, chief commercial officer at Palladium Group, explains why DE&I can be transformative in adding value to PE firms’ portfolio companies
Comment: Why organisational DD is more than a nice to have
Real Deals talks to MML Capital Partners’ Jessica Ring, Laurens Tjidhof of Zanders and Confidas People’s Bruce Douglas about the importance of ODD throughout an investment lifecycle
Q&A: Impact also means strong financial returns
Pal Erik Sjatil, managing partner and CEO of Lightrock, discusses the firm’s investment approach and current trends in the sector
Comment: Preserving options and value
With GPs facing limited exit options and LPs demanding liquidity, Meg Wilson, partner at EY-Parthenon, explores how PE houses can keep their options open and preserve, protect and underpin value
Consumer Report: Going for growth
LDC's Joe Tager shares his thoughts on how transformational shifts in the consumer sector are creating opportunities for innovative consumer companies
Comment: PE’s DEI dilemma
PE has made great strides in relation to DEI, but much still needs to be done. Dörte Höppner, chief sustainability officer at The Riverside Company, outlines how the industry can improve its DEI credentials
Comment: Saving a floundering fund
Efforts to rescue the stricken ELTIF are underway, as EU regulators update the rules to make the product more appealing to retail and institutional investors. JTC Group managing director Richard van’t Hof explores what the changes mean
Q&A: The future of tech due diligence
New scanning tools are revolutionising the world of technology due diligence, explains Vaultinum managing director for the UK and Northern Europe, Josh Nunn
Organisational due diligence now more essential than ever
Organisational due diligence has the power to transform your value creation strategy
Comment: The pitfalls of the PE mindset during turbulent times
Dr David Cooper MSc CPsychol FCA, founding partner of Cooper Limon, outlines how private equity professionals need to think beyond just the numbers
Q&A: How to maximise the value of your existing portfolio
Foot Anstey employment partner Claire Holland and corporate partner Adam McKenna discuss how firms in the private equity midmarket can get the most out of their existing portfolios
Comment: Creating a scalable culture
A scalable culture should be based on four cultural principles, with the ultimate purpose of creating a team
Organisational due diligence as a value creation lever
How to de-risk implementation of your value creation plan
Comment: Going rate – the emergence of subscription facility
Fitch Ratings' Greg Fayvilevich speaks to Real Deals about the key factors assessed when rating a facility
Comment: New era for fund domiciles
Elliot Refson, head of funds at Jersey Finance, explains how regulatory changes have transformed the island nation’s reputation within the private equity community
Future 40: Climate Change Champions: Nominate now!
We're looking for GPs, LPs, and advisers incorporating sustainability and climate-related opportunities into their strategies. Nominations close on Friday 22 September
Humatica Corner: Scaling healthcare – multiplying the multiple
Healthcare has become an attractive investment sector for private equity, driven by market size and efficiency improvement potential. However, building a healthcare platform can be tricky...
LBO + ABL = A winning formula for PE
In corporate finance, the quest for an equation that offers enhanced returns and drives risk mitigation has led to the rise of LBOs fuelled by ABLs
Business Services Report: Investors flock to the sector despite market downturn
Fairgrove's partner Paddy Woods Ballard and director Bhavna Dewan speak to Real Deals about the resilience of the business services sector
Business Services Report: Top investment hotspots in the sector
LDC's John Clarke highlights business services subsectors that are growing with the support of private equity
Humatica Corner: Finance is linear. Organisations are not.
Embracing organisational effectiveness as a value driver has great potential for private equity
Comment: Unleashing the potential of bolt-ons
With PE firms opting for more bolt-ons, James Tetherton, founder and senior partner at Graph, explains how CDD has emerged as a key tool to help GPs unlock the full potential of bolt-ons.
Humatica Corner: CEO job #1 – Aligning stakeholders for value growth
With 20 years of experience helping PE buyout teams organise for success, Humatica notes five typical misalignments that delay value creation.
Level 20 launches Accelerate
Accelerate is a solutions-driven framework addressing gender diversity within mid-level investment roles.
Organic growth: insights from ECI Partners, Soho Square Capital, Vendis Capital and NVM Private Equity
The Real Deals team presents four standout examples of how GPs have worked to professionalise, reshape and rebuild businesses via organic growth.
Q&A: Healthcare investment key drivers
Real Deals speaks to LDC partners Aziz Ul-Haq and Christian Bruning, and investment director Matt Newbold, to assess the main drivers of M&A in the healthcare sector and what the GP looks for when investing.
Ireland: a real alternative for private markets
Sam Metland, head of private equity product, Citco (UK) Limited, highlights the case for managers to choose Ireland.
Comment: Adopting a data-first approach
Data is everywhere, writes Fleur Hicks, CEO of onefourzero. You just need to turn it into something you can use.
Humatica Corner: Using maturity models to improve leadership processes
Of all the aspects that define culture, management processes most directly drive a portfolio company’s ability to implement the full potential plan, according to Humatica.
Weathering the storm: GPs weigh in on mid-cap opportunities for 2023
Industry participants convened at the Real Deals Mid-Market conference in London earlier in February to ponder the outlook for mid-cap PE, and how LPs intend to deploy capital in the current climate.
2020 levels of M&A would be a solid 2023, says Raymond James’ Allan Bertie
Allan Bertie, head of European investment banking at Raymond James, shares his views on public-to-private transactions, last year’s market slowdown and deal activity in 2023.
Q&A: MVision’s Mounir Guen on fundraising in 2023
Mounir Guen, chief executive officer of MVision, discusses the complex effects of escalating interest rates, today’s hottest industry sectors and the rise of alternative private equity investment models.
Comment: Mapping risk and opportunities for 2023
Jean Devlin and John Seddon, respectively partner and principal at Control Risks, examine the macro uncertainties that will weigh on private market sentiment throughout 2023, as well as the micro considerations to adapt and evolve investment approaches.
Comment: How successful investors are using AI to get ESG data
SESAMm CMO Jorge Alvarez explores the importance of obtaining comprehensive and meaningful ESG data, and how machine learning is revolutionising the way investors can approach this key workflow.
Comment: What does lending look like in 2023?
Shaun Hyland, debt advisory director at Leonard Curtis, explores the key financing trends that will define the coming months for UK SMEs and mid-market borrowers.
Riverside’s Karsten Langer: ‘Now is a great time to be an active PE investor’
Karsten Langer, managing partner at Riverside Europe, shares his outlook on what the coming months have in store for the private equity industry.
LPs unlikely to increase alternative assets allocation in 2023 - survey
Fewer LPs will increase their target alternatives allocation over the next 12 months than in previous years, according to Coller Capital’s latest Global Private Equity Barometer for Winter 2022.
Comment: From prison to private equity
Lisa Brown shares how her experience in forensic psychology informs her current work at Confidas People, a specialist boutique consultancy providing people assessment and management due diligence for VC and PE investors.
Roundtable: Stake house
Leading experts from the GP stake sale market come together to discuss the evolution of these transactions, and what value they can bring to private equity firms.
Comment: Combining technology and operational diligence
Gareth Murphy, co-founder and head of the private equity consulting practice at Fluid, examines how sponsors can harness technology due diligence as an operational improvement tool, beyond simple risk mitigation.
UK Budget: CGT changes could lead to M&A increase, says FRP
"We would expect to see an increase in business owners looking to maximise the value they can extract from their businesses before in April," says partner Dan Bowtell.
Q&A: Brand Potential and MPM Products
Mary Say, CEO at Brand Potential, and Julian Bambridge, CEO at pet food business MPM Products, discuss how the brand agency has helped MPM along its PE ownership journey.
Comment: Ireland remains top SPV domicile
Adrian Bailie, Rachel Stanton and Martin Phelan discuss some practical insights from their experiences incorporating Special Purpose Vehicles (SPVs) in Ireland.
Humatica Corner: TQM your organisation
Humatica founder Andros Payne argues that Edwards Deming's Total Quality Management principles are the right approach for PE.
Comment: Due diligence in a rocky UK market
onefourzero CEO Fleur Hicks discusses how the UK market has changed in the face of stiff macroeconomic challenges - and what this means for commercial, digital and technical due diligence.
Q&A: Kartik Shah and Karl Salemangi, Apex Group
Shah and Salemangi discuss PE trends and how service providers are assisting in these difficult times.
Q&A: Sandy Weil, Hazeltree
Hazeltree's CRO discusses how the firm is helping private equity clients manage today’s complex economic environment and the importance of liquidity management for the industry.
Q&A: Shiraz Allidina, Citco
The managing director at the provider of financial services for alternative funds discusses trends in lending, rising interest rates, market turbulence, and more.
Q&A: Mike Reid on Frog Capital’s sharper ESG focus
Frog Capital partner Mike Reid talks to Shivani Khandekar about the growth investor’s approach to ESG and social impact, and how this meshes with its core focus on scaling European software businesses.
Q&A: RBS International’s Bradley Davidson on science-based targets
Bradley Davidson, ESG lead at RBS International, discusses the importance of science-based targets (SBTs) and how alternative investment funds (AIFs) can leverage them on the pathway to transition.
Humatica Corner: Success of corporate carve outs
Carve-out risks can be avoided by investing more time upfront to clarify expectations about private equity governance in both directions, writes Humatica's Andros Payne.
Surveying the mid-market debt landscape
In late September, lenders and industry peers gathered in London to discuss the future of mid-market lending in Europe, as an increasingly crowded market faces an ever-changing, volatile macroeconomic environment. Jennifer Forrest reports
Humatica Corner: Engineering the organisation
Humatica founder Andros Payne looks at the link between strong leadership and value creation.
PE missing integrated approach to digital value creation, say BVCA Summit panellists
Speakers at the BVCA Summit said not enough PE firms are looking at digital in an integrated way, and discussed how to refresh the model in order to maximise value.
Focus on basics to support management teams, says Oakley’s Gibson
Refocusing on the “basic nuts and bolts” of a business will be paramount to help entrepreneurs thrive in the current market, Oakley Capital’s Rebecca Gibson argued at the BVCA Summit on 6 October.
BVCA Summit: PE players make case for sticking with UK
While acknowledging that the UK is dealing with added uncertainty on top of a difficult global macro environment, speakers at the BVCA Summit extolled the country’s continued attractiveness as a PE investment destination.
Q&A: IQ-EQ
Dev Sian, director at IQ-EQ’s MaxComply, discusses the growing need for regtech in the private equity industry.
IPEM 2022: Conference Round-up
The Real Deals team rounds up key takeaways, from big-picture optimism to retail investors and secondaries conundrums.
All Seas Capital Partners two years on
Co-founders at All Seas Capital Partners, Marc Ciancimino & Cristobal Cuart, reflect on setting up a firm over the last two years, navigating the deals market post-pandemic and developing the team.
Ready, steady.. No
The nature of cross-border deals is changing to reflect geopolitical tensions and economic challenges unfolding on the world stage. Are deal teams ready?
IPEM 2022: Now is the time to invest, says Investindustrial’s Bonomi
Industry heavyweights have urged fellow IPEM attendees to ignore talks of doom and gloom and instead seize opportunities to invest, while warning that GPs must be ready to showcase their USPs if they are not to fall by the wayside.
Q&A: Compass Executives
Compass Executives director of corporate services, people and cultural practice, Abigail Bada, discusses recruiting senior talent in a recessionary environment, improving retention and a shift in candidate-driven demands.
Q&A: NVM and Mobius Networks
NVM investment partner Andy Leach and Mobius Networks’ managing director Douglas Gilmour, discuss the firm’s successful three-year backing of the UK-founded market-leading IofT technology provider, which was recently sold to Wireless Logic.
Q&A: CIL Management Consultants
Jon Whiteman, Managing Partner for strategy consultancy CIL, discusses the commercial challenges brought about by recessionary environment.