Private Equity Resources and Trends

[gricole]

Hi All,

I suggest that we can post materials related to the private equity market here. A good starting point is: https://www.pwc.de/de/finanzinvestoren/private-equity-trend-report-2018.pdf

 

[Daniel Boden]

Have needed a thread like this! Thanks a lot @gricole - I'll add this one which has been posted on the forum before: https://www.law.com/legal-week/2018...-up-and-comers-making-their-mark-on-the-city/

 

[Jaysen]

If you want to learn more about PE, the BVCA has a very detailed intro guide: https://www.bvca.co.uk/Portals/0/library/Files/Website files/2012_0001_guide_to_private_equity.pdf.

 

[gricole]

@Jaysen what story would you suggest is more suitable for the Kirkland & Ellis commercial question. A general one on how the UK is losing its PE power - https://www.ft.com/content/72ef5dbe-ff88-11e8-aebf-99e208d3e521 or a specific one to a client of the firm https://www.ft.com/content/dba3f048-f274-11e8-9623-d7f9881e729f. How would you go about structuring it - what the story is; why does it matter; how it can affect K&E?

 

[Jaysen]

@Jaysen what story would you suggest is more suitable for the Kirkland & Ellis commercial question. A general one on how the UK is losing its PE power - https://www.ft.com/content/72ef5dbe-ff88-11e8-aebf-99e208d3e521 or a specific one to a client of the firm https://www.ft.com/content/dba3f048-f274-11e8-9623-d7f9881e729f. How would you go about structuring it - what the story is; why does it matter; how it can affect K&E?

Can you remind me what the question is?

 

[Daniel Boden]

Can you remind me what the question is?

Please tell us about a recent commercial article or event that has attracted your attention. Please explain why it interested you, give your opinion on the opportunities and challenges that it might represent to law firms. (400 words max)

 

[Jaysen]

Please tell us about a recent commercial article or event that has attracted your attention. Please explain why it interested you, give your opinion on the opportunities and challenges that it might represent to law firms. (400 words max)

Thanks!

@Jaysen what story would you suggest is more suitable for the Kirkland & Ellis commercial question. A general one on how the UK is losing its PE power - https://www.ft.com/content/72ef5dbe-ff88-11e8-aebf-99e208d3e521 or a specific one to a client of the firm https://www.ft.com/content/dba3f048-f274-11e8-9623-d7f9881e729f. How would you go about structuring it - what the story is; why does it matter; how it can affect K&E?

I wouldn't worry about which story the firm will like/is more suitable. Choose a story you find interesting. It doesn't have to be PE or related to the firm either.

I don't have a set structure for this question provided you cover all the points they raised. The most obvious one would be 1. What is X and Why X interests you 2. Opportunities of X to law firms. 3. Challenges of X to law firms. However, there's no need to be rigid as long as you cover all the above points.

The best answers I review are where applicants have had the confidence to lead with their opinion from the start. They're a lot more evaluative than descriptive (although a short description to introduce the story is completely fine). It's also very clear that the story interests them and I can sense their interest/passion from the way they write about the topic.

 

[Daniel Boden]

This isn't really for explicitly PE per se, but Freshfields recently published their outlook for M&A trends in 2019 which PE obviously falls under: https://www.freshfields.com/en-gb/o...r&utm_source=social&utm_medium=linkedin#CFIUS

 

[Jaysen]

This isn't really for explicitly PE per se, but Freshfields recently published their outlook for M&A trends in 2019 which PE obviously falls under: https://www.freshfields.com/en-gb/o...r&utm_source=social&utm_medium=linkedin#CFIUS

There's some very useful stuff in there. Why don't I create an M&A thread and you can also post it in there?

 

[Camilla Gionso]

Brexit effects on UK PE: https://www.ft.com/content/72ef5dbe-ff88-11e8-aebf-99e208d3e521

 

[Daniel Boden]

There's some very useful stuff in there. Why don't I create an M&A thread and you can also post it in there?

Sounds good to me!

 

[Daniel Boden]

Useful article for private equity funds to watch next year: https://www.valuewalk.com/2018/09/private-equity-funds-to-watch-in-2019/

 

[Daniel Boden]

And here's a link to a report commissioned by Dechert on the outlook for PE in 2019: https://www.mergermarket.com/info/2019-global-private-equity-outlook

 

[gricole]

And here's a link to a report commissioned by Dechert on the outlook for PE in 2019: https://www.mergermarket.com/info/2019-global-private-equity-outlook

One of the key findings of this report is that PE funds are pushed to think creatively about novel deal structures to maintain their competitive advantage in the increasingly crowded PE market. How do you think law firms can help PE clients to achieve this?

 

[Daniel Boden]

One of the key findings of this report is that PE funds are pushed to think creatively about novel deal structures to maintain their competitive advantage in the increasingly crowded PE market. How do you think law firms can help PE clients to achieve this?

I would say that law firms can help PE clients through the speed of service, the creation of novel and tax-efficient deal structures (it is the law firm that does this rather than the PE firm who look at what companies to buy) and through their expertise at structuring multiple unique deals simultaneously.

 

[J Malone]

In contrast, investors appear to have adjusted to the reality that the UK is leaving
the EU. Equipped with dry powder and strict deployment timeframes, GPs must
ultimately continue to put capital to work and intensify investment ahead of the
country initiating its exit in 2019.
(this is from pwc report)

@Jaysen hey Jaysen what does 'GP' refer to in here?

 

[Jaysen]

In contrast, investors appear to have adjusted to the reality that the UK is leaving
the EU. Equipped with dry powder and strict deployment timeframes, GPs must
ultimately continue to put capital to work and intensify investment ahead of the
country initiating its exit in 2019.
(this is from pwc report)

@Jaysen hey Jaysen what does 'GP' refer to in here?

General Partner. It refers to a private equity firm.

 

[bronson]

https://techcrunch.com/2018/12/28/p...it-options-even-for-early-stage-startups/amp/

An article I stumbled across about how diverse PE strategies have become and how they are utilised more as exits from early stage start ups.

 

[Jaysen]

For those wanting to learn more about private equity funding:
https://www.traverssmith.com/media/...tion of European PE funding_Travers Smith.pdf

 

[gricole]

Some predictions for 2019 from White&Case - https://mergers.whitecase.com/highl...m_source=LinkedIn&utm_content=LinkedInElevate