LP Outlook for Emerging Markets: EMPEA’s 2014 LP Survey Results
Join the discussion on the findings from EMPEA’s 10th Annual Global Limited Partners Survey.
- Where are LPs heading beyond BRIC markets?
- How has the perception of the risks of EM PE changed over the past year and what factors pose the greatest concern to investors?
- Which types of institutions are increasing their emerging markets exposure and through which fund strategies?
- How have EM PE portfolios performed relative to expectations and which markets are expected to deliver high returns?
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Managing Director, HarbourVest Partners, LLC
Scott Voss is a managing director who joined HarbourVest in 1999. He focuses on primary partnership investments in the emerging markets, Asia, and the U.S., as well as global cleantech investments. Scott has worked out of both HarbourVest's Boston and Hong Kong affiliates. He serves on several advisory boards, including funds managed by Advent International (Latin America), Bain Capital Ventures, Braemar Energy Ventures, Doll Capital Management, Draper Fisher Jurvetson, Element Management, Insight Venture Partners, Linzor Capital Partners, Madison Dearborn Partners, Pfingsten Partners, and Southern Cross Capital Management. Scott is also a member of the Board of Directors of the Latin American Venture Capital Association (LAVCA). His prior experience includes managing international sales and distribution for Cannondale Corporation, a leading manufacturer of bicycles and cycling accessories, where he had direct oversight of the company's wholly-owned Asia subsidiaries and its network of independent distributors in the region. Scott received a BS (cum laude) in Marketing from Bryant College in 1992 and an MBA (cum laude) from Babson College in 1999.
Managing Director, Siguler Guff & Company
Ralph Jaeger is a Managing Director at Siguler Guff. Mr. Jaeger is the portfolio manager and a member of the Investment Committees for the Firm's BRIC Opportunities Funds. Leveraging his extensive experience in international private equity, Mr. Jaeger is responsible for portfolio construction, sourcing, analysis and monitoring of the Firm's Emerging Markets investments. Prior to joining Siguler Guff in March 2012, Mr. Jaeger worked at Cambridge Associates LLC, an independent financial consulting firm, where he co-led the firm's international private equity and venture capital research efforts. Mr. Jaeger focused specifically on Emerging Markets and had primary responsibility for analyzing market trends, identifying compelling investment opportunities, and performing in-depth due diligence. During his tenure at Cambridge Associates, Mr. Jaeger also launched the inaugural benchmark for private equity in Africa in collaboration with the African Venture Capital Association and three major International Finance Institutions and was a regular guest speaker at leading international industry conferences. Prior to joining Cambridge Associates in early 2008, Mr. Jaeger worked at von Braun & Schreiber Private Equity Partners GmbH in Munich, Germany, where he analyzed and executed primary and secondary distressed fund investments. Previously, he held positions with PAI Partners and J.P. Morgan Partners, LLC, where he analyzed investment opportunities in the industrial and services sectors, and served on the boards of four European companies. Mr. Jaeger began his career in private equity at Industri Kapital in 1999. Mr. Jaeger holds a B.A. with honors in European Business Administration from Middlesex University, a Diplom-Betriebswirt from ESB Business School der Hochschule Reutlingen, and a banking degree from the Frankfurt Chamber of Commerce. He is fluent in English, German, French and Spanish, and conversational in Turkish.
Head of Data and Analysis, EMPEA
Maryam Haque is Head of Data and Analysis at EMPEA, where she leads the research and data programs, overseeing ongoing data collection, analysis, and dissemination to provide insight on private equity trends in emerging markets. Maryam is a frequent contributor to industry research and global media outlets and co-authored the publication “Women at the Wheel: Do Female Executives Drive Start-up Success?”, which examined the impact female senior executives have had on the venture capital industry. Prior to joining EMPEA, Maryam worked as a Senior Research Analyst in the Private Equity and Venture Capital division of Dow Jones and Company, where she tracked, analyzed, and published data on fundraising, investments, exits, valuations, and fund performance for the PE/VC industries. Maryam holds a Bachelor of Science in Policy and Management from Carnegie Mellon University. As a visiting student at St. Louis University’s campus in Madrid, Maryam completed a semester of coursework in international relations, international business, and European Studies.
EMPEA's 10th Annual Global Limited Partners Survey
This edition of EMPEA’s Global Limited Partners Survey marks our 10th year of analyzing limited partners’ views on the private equity asset class in emerging markets. From the 22 LPs participating in the inaugural 2004 survey to the 106 LPs responding to this year’s questionnaire, the study demonstrates the growth of emerging markets private equity over the past decade and continues to reveal how LP sentiment on EM PE has evolved.