Private Equity Spotlight – Details, episodes & analysis

Profit sharing is at the heart of the private equity incentive model: deliver LPs a certain return and keep 20 percent of the profits.

But private equity managers in the UK look set to pay a higher tax on any profit they take from such investments. The Labour government, which was voted into power in July, has said it aims to raise the tax on carried interest so it’s closer to the income tax rate of 45 percent. Doing so would raise £565 million pounds ($746 million; €671 million) in annual revenue, according to the government’s estimates.

In this episode, we sit down with Michael Graham, a partner at law firm DLA Piper who specialises in tax for private funds. Graham has been part of the consultation group providing the UK's tax authority with details on what a potential hike in carried interest tax could mean.

Graham discusses the lessons the UK can learn from other jurisdictions, why it's unlikely professionals in the UK private equity industry will leave en masse, why a flat tax rate is an attractive idea, and what 'capital at risk' may really mean.

This episode is sponsored by Bain Capital

Asia’s credit markets are the largest in the world, yet they remain heavily bank dominated. While large blue-chip businesses are well serviced, there is a material undersupply of custom, fit-for-purpose capital for SMEs, mid-market businesses and financial sponsors. This is creating a significant opportunity for direct lenders.

Asia’s credit markets are also complex and nuanced, which places a premium on managers with the right networks, insights and experience.

In this episode of the Private Debt Investor Podcast, Bain Capital’s Andrew Schantz, discusses how to navigate Asian private credit and what the future holds for an asset class having a “golden moment” across the globe.

The private equity industry has been pushing for more gender equality among GPs, LPs and intermediaries over the past decade, and the trend is now taking hold in the secondaries market, where diversity issues have historically received less attention.

In recent years, women across secondaries have been advocating for empowerment movements and forming support groups, including the Women in Secondaries network launched by Coller Capital and Akin Gump in 2020, as well as the WINS initiative backed in 2021 by five industry professionals representing the buyside, advisory, lending and legal sectors.

For those who have made it to senior roles, the priority is to retain, promote and elevate other women. In this eighth episode of the Decade of Secondaries Investing miniseries, Americas correspondent Hannah Zhang sits down with two women pioneers to discuss how the secondaries industry can promote gender equality. They are Francesca Paveri, senior managing director at investment bank Evercore, and Tori Buffery, senior director of secondaries at Nicola Wealth and senior adviser at Morningside Capital.

For full coverage of our Decade of Secondaries Investing series, including all podcast episodes and an interactive timeline, click here.

In the second episode of this miniseries, sponsored by AlixPartners, PE leaders share how they’re weathering operational and financial challenges. 

The first in a special five-part series, sponsored by AlixPartners, where we ask private equity operators how they're responding to today’s myriad challenges. 

Private Equity International is proud to present our first-ever serialized podcast, sponsored by AlixPartners. The five-part miniseries is focused on how private equity operators are finding opportunities in disruption. Listen to the first episode on August 17 right here on the Spotlight podcast channel.

We speak to Jim Roth, who co-founded LeapFrog Investments and is now founder and managing partner of Zamo Capital, about how to avoid exaggerated impact claims.

In this special episode of Spotlight, sponsored by Arrow Global, CEO Zach Lewy tells PDI editor Andy Thomson why a local approach offers unique advantages for private lenders in Europe.

Two of this year’s Women of Influence, Luxcara’s Alexandra von Bernstorff and BlackRock’s Pam Chan, discuss the challenges of starting a career in the industry.

Two professionals featured in PEI Media’s Women of Influence in Private Markets list 2022, APG’s Keren Raz and General Atlantic’s Melis Kahya Akar, discuss the challenges they faced as women in the field.