Deal volume in Europe continues to show strong growth. Pressure on European
firms to restructure their operations has created numerous opportunities for
buyout firms. Will this trend continue? Which sectors and which countries will
see the most activity? Will secondary buyouts continue to be a popular form of
exit? How will regulatory changes impact the environment?
Following the rapid growth of private equity as an asset class, will limited
partners have to reconcile themselves to lower returns in the future? How is
the relationship between limited partners and general partners changing? How
should private equity firms respond to calls for greater transparency? What can
give private equity firms an edge in competing for new investors?
The venture capital market has recovered. Over the past two years, venture
investment has grown at a measured pace, and the IPO window has begun to open.
Venture investment has been well balanced between early- and late-stage
companies and across a variety of business segments. The number of companies
that recently received their first round of financing is at a two-year high.
The turnaround of venture capital raises a number of new questions. How will
venture capitalists deal with capital overhang? How will recent decisions on
performance disclosure affect funds? What are the prospects for venture capital
investments outside the United States?
In an environment of intense competition for deals, what are the keys to
success? What are the benefits of specializing in particular sectors or in
particular regions? Can firms successfully replicate strategies across multiple
geographies and markets? How are exit strategies changing?
Major private equity firms have recently raised a swathe of new funds targeted
at Asia. Will new players continue to enter the Asian market? Which countries
will be the focus of attention? What are the prospects for China, as the
government applies the brakes to its booming economy? Does Asia continue to
offer good opportunities for investing in distressed debt? What are the main
hurdles for private equity investors in the region?
Competition in the field of distressed investing continues to grow. What impact
will this have on the sector? How can investors separate companies with genuine
potential from those headed for oblivion? What role can in-house specialists
play in bringing companies back from the brink? When does it make sense to
bring in new management? And are the returns in turnaround situations
commensurate with the risks?
Real Estate is traditionally a counter-cyclical asset class. Are recent results consistent with the theory? With large amounts of capital flowing into an uncertain economic environment, is this still a good time to initiate investments by taking advantage of cheap financing? Given that cap rates have remained flat with rising interest rates, to what extent are values going to hold? Are investors actively or passively weighing real estate more heavily in the current environment? And which segments are becoming the most and least attractive?
This panel is hosted by the Yale School of Management Real Estate
Club.