More than 300 delegates came together for the 2011 Private Equity in Africa Leadership Summit to discuss the investment thesis for Africa. With a theme of the time is now for PE investment in Africa, discussions focused on operational challenges, performance and the diversification of the LP base. Read More
Teresa Barger, EMPEA Vice Chair and Managing Director of Cartica Capital, discusses the dichotomy between private equity and public equity markets, and argues that private equity investors could learn a great deal from their listed market-focused counterparts and vice versa. Read More
EMPEA has embarked upon a series of initiatives focused on rejecting the premise that there is a tradeoff between financial performance and impact as broadly defined. These initiatives include conferences, such as our inaugural Capital Impact 2011, a series of Impact Case Studies and forthcoming research examining the best… Read More
In this issue Chinese Government Urged to Regulate Popular Foreign Investment Structure Steve Xiang, Antony Wang and Wenfeng Li, Weil, Gotshal & Manges LLP EMPEA Submission to Securities and Exchange Board of India (SEBI) Regarding Proposed AIF Regulations Mara Topping, White & Case LLP The… Read More
Solvency II is a European regulatory framework directive currently scheduled to come into effect across the European Union on 1 January 2013. The framework regulates the solvency of reinsurers and insurers which operate in the European Economic Area (EEA), constituted of the European Union, Iceland, Liechtenstein and Norway. Read More
On 30 August 2011, EMPEA submitted comments on draft regulations (the “Regulations”) promulgated by the Securities and Exchange Board of India (SEBI). These regulations proposed a framework for the Indian government to regulate private pools of capital (referred to as “Alternative Investment Funds” or “AIFs.”)… Read More
An internal draft memorandum reportedly prepared by the Chinese Securities Regulatory Commission (“CSRC”) for submission to the China’s State Council (the “CSRC Memo”) has heightened concerns in the foreign investment community regarding the future viability of the widely-used variable interest entity (“VIE”) investment structure in China. The negative view… Read More
In addition to ordinary commercial risks, emerging market private equity (EMPE) investments are subject to those risks that arise across virtually all emerging markets: unenforceability of contracts, expropriation, discrimination against foreign investors, weak or corrupt local courts, corrupt government officials and regulators, poorly drafted or conflicting laws and regulations,… Read More
Kohlberg Kravis Roberts & Co. L.P. invested US$150 million for a 33% stake. Company Headquarters: China Business focus: Dairy cow farming and milk production Revenue: US$172 million (FY 2011) impact highlights Modern Dairy’s revenues grew from RMB184 million (US$27 million) in FY2008 to RMB1,113 million (US$172 million) in… Read More
I&P Management acquired 100% of Newpack in July 2008 through the first LBO involving Mauritius and Madagascar. Company Headquarters: Madagascar Business focus: Corrugated cardboard packaging for transformation industries Revenue: US$10.4 million (FY 2010) impact highlights Newpack leveraged its sustainability achievements to attract new clients, including one of Madagascar’s… Read More
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