Over time, and as more investors allocate capital to private equity, the market has evolved to become increasingly sophisticated and competitive. As a result, there has been an expansion of investment scope and a profusion of specialized sub-strategies (for example, co-investing, direct investing, sector-focused strategies) and managers expanding i...
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Investing in a changing world can be challenging. Looking at the current environment, there is a wide array of possible outcomes due to heightened political uncertainty in Europe related to a number of key elections in the region and policy upheavals at home. These changes carry the potential to disrupt and dislocate markets. To this end, investors...
The speakers in this 2011 FOX Fall Forum session examine different approaches for compensating key staff members, with an emphasis on long-term, deferred structures.Two compensation design experts define options for family offices, discussing:Typical compensation components.Base compensation practices.Annual incentive and bonus practices.Long-term ...
Last year, the Hong Kong government established two sovereign funds to stimulate private investments and increase deal flow in local Hong Kong technology start-ups. Given the intense competition for good opportunities, high quality assets and the great responsibility that these funds hold in their hands, there has been greater transparency and reco...
Economic and demographic strengths have combined to make India the world’s fastest growing major economy for three years running. In 2016-2017, the country’s GDP, ranked seventh globally the year before, is projected to grow by 6.6%. India’s prime minister, Narendra Modi, embodies a “can do” spirit and champions a pro-business environment. Buoyed b...
The list of national retailers that have filed for Chapter 11 protection in recent years with the intention of reorganizing but instead wound up liquidating. Remember Circuit City, KB Toys, Borders, Linens-N-Things, and Sports Authority? All gone. Earlier this month, The Limited, an apparel chain dating back to the 1960s, became the first retail ca...
Runaway data growth is probably one of the greatest risk factors facing organizations today. With many organizations struggling to deal with the rapid explosion of data, coupled with increasingly aggressive regulatory enforcement, how should they drive change in information governance to achieve operational efficiencies and guard against data breac...
The 5th edition of the Social Divide index reveals that FTSE 100 companies are sharing more and better financial results-related posts on social media, assembling the right mix of social ingredients to achieve significantly higher levels of engagement than ever before. Indeed, in a clear indication of increasing stakeholder appetite for receiving r...
IRS regulations’ restricting taxpayer’s ability to structure leveraged partnerships were drafted with the intent to eliminate leveraged partnerships through the use of what the IRS perceived as abuses of the debt allocation rules. As of January 3, 2017, when a taxpayer contributes property to a partnership, the Temporary Regulations treat all partn...
Rising interest rates late in 2016 took a toll on bond prices, and were the catalyst for one of the worst quarters for bonds in recent decades. Current expectations are for interest rates to move gradually higher in 2017. While rising rates can be a headwind to bond performance in the near term, they don’t impact the coupon rate or cash flow ...
The economy is relatively healthy, but history has taught us that growth cycles don’t last forever. It’s not if there will be an economic downturn—it’s when. Knowing that there’s a cyclical pattern to many markets, savvy owners and executives figure out how to take advantage of business cycles to create a continuing gr...
Strategy is a crucial area of focus, but one area that’s often overlooked is planning for an unforeseen event. For example, what would happen to your business—and your family—in the event of your premature death or disability? How can you ensure a successful ownership transition and protect your family in the event of such an occu...
In most facets of life, we tend to associate risk with downsides: the risk of injury from slipping on ice; the risk of perishing in a plane crash; the risk of property damage from a flood. Risk, simply put, is something to be avoided. As investors, however, risk is something to be actively, yet intelligently, pursued. Striking the right balance of ...
In the introductory paper, Risk Management: The Intelligent Pursuit of Risk, it provided a glimpse of the qualifying framework of striking the right balance of specific risk exposures—with the goal of increasing returns. It was used to ask (1) Are risk factors consistent with the fund or strategy’s mandate? (2) Is their presence intentional? (3) Do...
Since the election, investors have focused on the positive aspects of President Trump’s surprising electoral victory and the end of U.S. legislative gridlock. There will likely be times in the year ahead when the more worrisome, controversial initiatives pushed by the Trump administration will rattle investor confidence—at which point w...