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THE TRIAGO QUARTERLY, MARCH 2013
Fundraising and secondary volumes rise. |
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TRIAGO ON FUNDRAISING/SECONDARIES AMID MARKET VOLATILITY
Privcap - Audio podcast interview with Triago founder and CEO Antoine Dréan on the fundraising and secondaries environment. |
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CONTEST FOR SHRINKING DOLLARS
Bloomberg - Investors are planning to reduce pledges to private equity funds and invest in fewer of them. |
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FUNDS-OF-FUNDS REFOCUS
Financial News - Funds-of-funds overhaul their model to regain investor confidence. |
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VALUATIONS BOUNCE BACK TO PRE-CRISIS LEVELS
Private Equity International - Fund valuations reclaim losses, but carried interest prospects for boom-era vintages remain murky, according to Triago. |
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COMEBACK IS COMPLETE - AT LEAST ON PAPER
Forbes - Net asset values have risen a cumulative 40.1 percent over seven straight quarters, according to Triago. |
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THE GREAT DIVIDE
Real Deals - Some fund are raising quickly while others limp towards their target. What can firms do to ensure they are on the top table? |
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CITI’S AXA DEAL UNDERSCORES SECONDARY MARKET REVIVAL
Institutional Investor - The sale by Citi means industry-wide volume is on target to reach or surpass $25 billion, according to Triago. |
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PRIVATE EQUITY SECONDARIES
Financial Times Lex column - Discounts to net asset value are now just 5 percent, Triago data shows. |
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CHINA PREPARES $200 BILLION DIVERSITY SPEND
Financial News - Private equity firms embarking on a fresh round fundraising have been put on high alert by Chinese government plans to handover $200 billion to China Investment Corporation. |
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SECONDARY MARKET IS A BAROMETER FOR PRIVATE EQUITY
Wall Street Journal video - The growing secondary market in private equity fund stakes reflects the increasing sophistication of investors, says Antoine Dréan, the CEO of Triago. |
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CVC CAPITAL AND CHARTERHOUSE LOOK TO RAISE NEW FUNDS
The Telegraph - Fundraising may not be plain sailing, given the previous usual source of investment - American public pension funds - are mainly fully invested in the sector already. |
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ADVISOR: NON-US GPS IN DARK OVER DODD-FRANK EXEMPTION
Private Equity International - A number of fund managers are unaware of a ‘little known loophole’ to side-step SEC registration, according to placement agent Triago. |
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AS INVESTORS BECOME SAVVY, FUNDS OF FUNDS LOSE FAVOR
New York Times - In the first 11 months of 2010, funds of funds accounted for just 6 percent of total private equity fundraising, down from an average of 11 percent from 2005 to 2009. |
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FUNDRAISING: HEAVY TRAFFIC AHEAD
Unquote - Which teams are likely to stand out from the crowd? Greg Gille talks to Antoine Dréan, founder and CEO of Triago to find out. |
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PRIVATE EQUITY'S BOOM MAY SOON FADE
Financial Times - The next few years could mark a stark reversal of fortunes for many private equity funds. |
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CRASH OF KRAVIS-INSPIRED CANDOVER SHOWS WOES OF BUYOUT INDUSTRY
Bloomberg - Candover’s saga, the biggest private-equity blow-up in a decade, is emblematic of the industry's troubles since 2005. |
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SHOPPING USED PRIVATE EQUITY
Fortune - The once-tiny secondary market in private equity is on fire, thanks in part to Antoine Dréan's Triago. |
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AFTER YEARS OF ANTICIPATION, A SUBDUED PUBLIC OFFERING FOR KOHLBERG KRAVIS
New York Times - The barbarians didn't exactly storm the gate. Tiptoed was more like it. |
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WE'RE BACK, BABY: SECONDARY MARKET CELEBRATES BANK OF AMERICA DEAL
Dow Jones LBO Wire - AXA Private Equity's $1.9 billion purchase of a portfolio of private equity funds from Bank of America Corp. offers compelling evidence that the barriers that stood in the way of secondary market transactions in 2009 are no longer there. |
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CARLYLE CLOSES ASIA FUND WITH $2.55 BILLION
New York Times DealBook - Carlyle began raising money for the fund in 2008, before the global financial crisis, and initially aimed to amass about $3.5 billion. |
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DEALTALK - PRIVATE EQUITY INVESTORS INCREASE CLOUT
Thomson Reuters - Private equity investors have increased their clout since the financial crisis, but whether they can really dictate major changes in terms and structures of fund agreements remains to be seen. |
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TRIAGO: SECONDARIES DEAL VOLUME TO SPIKE THIS YEAR
PE Online - The Paris-based placement agent and secondaries advisor is forecasting between $15bn and $18bn in secondaries deal volume this year, a major leap from the about $8bn of deals done last year. |
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ASIA PRIVATE EQUITY FUNDRAISING BOUNCES BACK
Thomson Reuters - After a dismal 2009, private equity fundraising appears to be showing signs of life In Asia, as investors bet on the region's growth despite a lack of deal flow. |
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WHARTON LECTURE SERIES
The business school’s exclusive video interview with Jean-Marc Cuvilly digs into Triago’s outlook on primary and secondary markets. |
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SECONDARIES SEEN PICKING UP
Exclusive Thomson Reuters interview with Jean-Marc Cuvilly and Jérémie Le Febvre |
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THE GULF MAGAZINE MIDDLE EAST PRIVATE EQUITY IN 2010
by Antoine Dréan |
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LES CARTES DU CAPITAL-INVESTISSEMENT REBATTUES PAR LA CRISE
Le Figaro économie - Les ex-champions de l'investissement français font grise mine. |
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OBAMA PROPOSAL MAY FORCE BANKS TO SELL BUYOUT UNITS
Bloomberg - JPMorgan Chase & Co. and Goldman Sachs Group Inc. may have to sell some private-equity businesses and stop investing in buyouts under a proposal by President Barack Obama to limit bets made by banks with their own capital. |
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KELSO PLACE RAISES £100 MILLION SPECIAL SITUATIONS FUND
The London based private equity firm announced today that it has closed its Special
Situations Fund, with total commitments of £100 million. |
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SECONDARY MARKET INSIGHTS
Dow Jones - Guide to Secondary Market Intermediaries. How did the market meltdown actually impact the private equity secondary market? |
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CAPITALISING ON SAVOIR FAIRE
Gulf Business News & Analysis Magazine - Founded in Europe in 1992, Triago opened an office in New York in 2000 and in Dubai in 2007. |
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ANTOINE DRÉAN JOUE LES INTERMÉDIAIRES DU CAPITAL-INVESTISSEMENT
L'Agéfi Hebdo - Depuis quinze ans, Triago aide les équipes de private equity à lever des fonds. Il mise aujourd'hui sur le marché secondaire et le Moyen-Orient. |
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COMMENT TRAVAILLE... ANTOINE DRÉAN PRÉSIDENT DE TRIAGO
Option Finance - Triago est devenu le point de passage obligé pour bon nombre d'équipes de private equity spécialisées sur le mid market. |
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FORMER FINANCE MINISTER GOES TO TRIAGO-X
Financial News - Announcing the appointment of Alain Madelin as Senior Advisor of Triago-X. |