In the VentureBeat article "VC investing still strong even as median time to exit reaches 8.2 years" author Adley Bowden of Pitchbook discusses a few items that gave me pause.
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This is one of a series of posts on fund terms. Other posts include:
Private equity funds (buyout, venture capital and growth equity funds) are typically structured as limited partnerships, which have two types of partners: limited partners, or LPs, which are passive investors in the fund; and a general partner, or GP, which is the manager of the fund. As I evaluate funds, one of the fund terms that receives special attention is the amount of money the GP will commit to the fund - which is called "GP Commitment", "GP Capital Commitment" or "GP Commit." To read more, please click "Read More" to the lower right. Reuters recently posted an article "Super-rich private equity stars rue 'lousy' reputation, say they are misunderstood." The article reports that Stephen Schwarzman of the Blackston Group and other private equity pros feel that the industry has a public relations problem. This article comes on the heels of some other public comments made by others in the industry and outside the industry which have re-kindled a long-standing debate about the merits of the private equity industry.
I have previously posted about this topic, and I think the prior posts help to frame this article. Prior posts: http://www.allenlatta.com/allens-blog/mike-moritz-on-private-equity-aka-leveraged-buyouts http://www.allenlatta.com/allens-blog/a-response-to-mike-moritzs-article-on-stephen-scharzman Link to Reuters article: http://www.reuters.com/article/us-milken-conference-privateequity-idUSKBN17Y2MT I am pleased to be a panelist at the upcoming Emerging Manager Connect West 2017 conference on May 11, 2017 in San Francisco at the Marines Memorial Club and Hotel. I will participate on the panel "All In The Family: How Family Offices View Emerging Managers, And The Best Ways For Managers To Approach Them." It should be an interesting panel! Link to conference website: https://partnerconnectevents.com/emcw2017/index.php
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All original works on this site are © Allen J. Latta. All rights reserved. Neither this website nor any portion thereof may be reproduced or used in any manner whatsoever without the express prior written permission of Allen J. Latta. LP Corner® is a registered trademark of Campton Private Equity Advisors. Used with permission. DISCLAIMER: Readers of this Blog are not to construe it as investment, legal, accounting or tax advice, and it is not intended to provide the basis for the evaluation of any investment. Readers should consult with their own investment, legal, accounting, tax and other advisors to the determine the benefits and risks of any investment.
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