Tessa Griffin September 20, 2013
Want to filter through private equity and venture capital news? Here are the top five takeaways through Sept. 20:
In the week leading up to the Federal Reserve’s meeting on QE velocity (in case you’ve been under a rock for 48 hours, the Fed voted to continue the monthly $85 billion pace of bond purchases), private equity firms were particularly active in the secondaries market.
This week alone, the Carlyle Group fully exited SS&C Technologies, Investcorp sold Fleetmatics, and KKR sold a $774 million stake in a Danish telecoms firm TDC. We’ll see if secondaries continue to trend as uncertainty about the Fed’s strategy remains.
Management on the move:
CD&R, one of the more operating-intensive buyout firms, snags former PepsiCo president John Compton as an operating adviser. $PEP— Devin Banerjee (@devinbanerjee) September 19, 2013
John Compton, former president of PepsiCo, has joined private equity firm Clayton, Dubilier & Rice as an operating advisor.
J Crew’s chief executive has joined Warby Parker’s board of directors – prepsters worldwide celebrate.
Private Equity Exit Activity:
Private equity firms completed just 205 exits totaling $33 billion in the first half of 2013, the lowest figures for a half-year period since 2H 2009.
New research from a PitchBook analyst shows that Harvard Business School accounts for roughly 25% of MBA degrees at private equity and venture capital firms. Both industries have been actively debating the value of an MBA and the comparative worth of educational alternatives, such as a CFA or executive education certificates.
Successful industry professionals generally advise potential applicants to weigh the reasoning behind the desired MBA, but almost nothing can beat jumping into an industry head first to gain experience.
PE firms confronting risks & tackling Asia:
PE firms are increasingly looking to Asian markets for growth opportunities:
As investors warm to Asia’s fourth-largest economy, Korea is gaining some private equity traction.
KKR is looking to employ a China-focused investment strategy of minority holdings and property deals for its second Asia-focused fund.
Featured image of downtown Seoul courtesy Wikimedia Commons user tylerdurden1.