TRIAGO
NEWS
The Triago Quarterly summer 2010
Net asset values rise but investors do without cash
Triago's guide to the Secondary Market 2010
Accessing the Private Equity Secondary Market
Shopping Used Private Equity
Fortune - The once-tiny secondary market in private equity is on fire, thanks in part to Antoine Dréan's Triago.
After years of anticipation, a subdued public offering for Kohlberg Kravis
New York Times - The barbarians didn't exactly storm the gate. Tiptoed was more like it.
Buyout firms face investors or risk being frozen out
Thomson Reuters - A growing group of private equity firms are priming lukewarm investors to expect requests for new funds later this year, having run out of money - and time - to invest in new deals.
RBS nears €400 million private equity sale
Financial Times - Royal Bank of Scotland is close to agreeing on the sale of its European private equity fund portfolio to Alpinvest, the Dutch pension fund.
We're Back, Baby: Secondary Market Celebrates Bank of America Deal
Dow Jones LBO Wire - AXA Private Equity's $1.9 billion purchase of a portfolio of private equity funds from Bank of America Corp. offers compelling evidence that the barriers that stood in the way of secondary market transactions in 2009 are no longer there.
Hopes rise for a return of private equity deals
Financial Times - Last year, many regional private equity executives, though shocked at the scale of the financial crisis, were confidently forecasting a "vintage year" for investments in the Middle East.
Carlyle Closes Asia Fund With $2.55 Billion
New York Times DealBook - Carlyle began raising money for the fund in 2008, before the global financial crisis, and initially aimed to amass about $3.5 billion.
DEALTALK - Private equity investors increase clout
Thomson Reuters - Private equity investors have increased their clout since the financial crisis, but whether they can really dictate major changes in terms and structures of fund agreements remains to be seen.
Triago: Secondaries deal volume to spike this year
PE Online - The Paris-based placement agent and secondaries advisor is forecasting between $15bn and $18bn in secondaries deal volume this year, a major leap from the about $8bn of deals done last year.
Specialized funds of funds reel in bigger institutions
Pensions & Investments - Private equity funds of funds — some of which have been devastated in the financial crisis — are showing signs of a recovery among institutional investors globally.
Private equity funding squeeze boosts placement agents
Financial News - The renewed enthusiasm comes after a sharp drop in fundraising pushed more buyout firms into the arms of placement agents.
Asia private equity fundraising bounces back
Thomson Reuters - After a dismal 2009, private equity fundraising appears to be showing signs of life In Asia, as investors bet on the region's growth despite a lack of deal flow.
Les cartes du capital-investissement rebattues par la crise
Le Figaro économie - Les ex-champions de l'investissement français font grise mine.
Secondaries Seen Picking Up
Exclusive Thomson Reuters interview with Jean-Marc Cuvilly and Jérémie Le Febvre
The Gulf Magazine Middle East Private Equity in 2010
by Antoine Dréan
Obama Proposal May Force Banks to Sell Buyout Units
Bloomberg - JPMorgan Chase & Co. and Goldman Sachs Group Inc. may have to sell some private-equity businesses and stop investing in buyouts under a proposal by President Barack Obama to limit bets made by banks with their own capital.
Kelso Place raises £100 million Special Situations Fund
The London based private equity firm announced today that it has closed its Special Situations Fund, with total commitments of £100 million.
Triago Appoints Senior Advisor
Wake-up call
The days of heady dealmaking in the Gulf's nascent private equity industry have ground to a halt...
Patience pays
Despite the exodus of foreign GPs from Japan, not everyone is faring badly - and the economic downturn may even be opening more doors for private equity.
Secondary market insights
Dow Jones - Guide to Secondary Market Intermediaries. How did the market meltdown actually impact the private equity secondary market?
Capitalising on savoir faire
Gulf Business News & Analysis Magazine - Founded in Europe in 1992, Triago opened an office in New York in 2000 and in Dubai in 2007.
Antoine Dréan joue les intermédiaires du capital-investissement
L'Agéfi Hebdo - Depuis quinze ans, Triago aide les équipes de private equity à lever des fonds. Il mise aujourd'hui sur le marché secondaire et le Moyen-Orient.
Fundraising Feature: Raising the Bar
Unquote - In a climate where billionaire funds are abundant and where final caps are reached in a matter of weeks, it seems axiomatic to describe raising money as easy.
Seconds Best
Real Deals - The use of secondaries in portfolio management is gathering momentum, with the entry of US pension funds in the market representing a crucial coming of age for the industry.
Comment Travaille... Antoine Dréan Président de Triago
Option Finance - Triago est devenu le point de passage obligé pour bon nombre d'équipes de private equity spécialisées sur le mid market.
Towards a new liquidity paradigm for the private equity community
EVCA Yearbook - A discussion on the evolution of the secondary market, best ways to approach it and the realisation that liquidity is a sound and viable option.
Broad Auctions Seen as Backfiring
Private Equity Insider - Although broad-based auctions should drum up demand in theory, secondary market players argue that, in reality, the opposite can actually happen.
Former Finance Minister goes to Triago-X
Financial News - Announcing the appointment of Alain Madelin as Senior Advisor of Triago-X.
The first-refusal ruse
Private Equity Central - The right of first refusal rule was originally intended as a benefit to a fund's limited partners. It has, however, a double-edge to it.
