Private Equity Council & Arthur D. Little Report – ‘Demystifying the Credit Crunch: A Primer and Glossary’

November 30, 2008

The Private Equity Council which lobbies on behalf of the large, global buyout shops, and consultancy firm Arthur D. Little have issued a report entitled “Demystifying the Credit Crunch: A Primer and a Glossary” in an effort to contribute to a better understanding of the issues, the terms and the trends that gave rise to the credit crunch. It includes both a background paper and a glossary of terms:


Duke Street Names Garbois Operating Partner

November 29, 2008

In alumni news, Duke Street has just named Jean Garbois (H.63) as a new operating partner in France. Garbois joins from Banque OBC, a private bank belonging to ABN AMRO, where he was vice-president and director general.

Guide to Channel Islands Private Equity Services in 2008

November 28, 2008

Private Equity Wire has just released their special report concerning Private Equity services in the Channel Islands for 2008. Off-shore administrative sites are extremely important for alternative investment vehicles thanks to favorable tax regulations, etc. and the islands off the coast of Normandy are a leading location for such activity. It’s also worth noting that Jersey has been doing an admirable job of catching up to Guernsey in terms of regulatory innovation towards PE. It’s all covered in the article I’ve attached:

Apax Co-Founder Maurice Tchenio Reportedly Sues Apax for Withholding Profits

November 27, 2008

HEC alum Maurice Tchenio (H.65), has sued Apax Partners, the firm he co-founded along with Sir Ronald Cohen and Alan Patricof, claiming that profits have not been distributed the right way since 2001, according to reports.

Tchenio filed a lawsuit in London in which he is believed to claim that the UK-based arm of Apax owes him an undisclosed sum in profits and management fees relating to five European investments in the Netherlands, Italy and Sweden.

Apax merged its US, UK, Swiss, German and Spanish operations into a single group in 1999, with Apax in France remaining separate.

Buyouts West: Where’s the Debt?

November 26, 2008

Here’s a video of a panel discussion on the current state of the debt markets from the recent Buyouts West Conference. I would embed it, but Brightcove has issues with wordpress, or maybe it’s the other way around. Either way I wish it would get straightened out. Regardless, the discussion is worth watching!

‘Bailout’ is 2008 Word of the Year!!!

November 25, 2008

According to Merriam-Webster, the dictionary publisher, the word “bailout”, which has shot to prominence amid the ongoing financial meltdown, was looked up so often on it’s online dictionary site that it was was an easy choice for its 2008 Word of the Year. I’m sure the parents of the word are so proud.

bailout (noun)

a rescue from financial distress

Gary Parr and H. Rodgin Cohen on Challenges to New U.S. Administration

November 24, 2008

Yet another video from The Deal Video (excellent source for quick concise clips) here’s Gary Parr, deputy chairman of Lazard, and H. Rodgin Cohen, chairman of Sullivan & Cromwell, speaking about the challenges that face President-elect Barack Obama’s incoming administration: