Emerging Markets Private Equity Quarterly Review

The Emerging Markets Private Equity Quarterly Review provides an analytical and factual look at private equity investing in the emerging markets of Asia, Africa, Europe, Latin America and the Middle East.

EM PE Quarterly Review/Q2 2010 Featured Articles:

What Really Lies Ahead for Emerging Markets Private Equity

To the observer, the press of bodies filling the halls of the Washington Ritz-Carlton in May might have been evidence that emerging markets private equity had experienced "a pretty good crisis." A record number of almost 800 delegates from over 50 countries attended the 12th annual Global Private Equity Conference, held in Washington on 11-12 May. Although the overall tone of the event was upbeat, sessions featured frank discussions about the myriad challenges facing GPs and LPs alike in a changed and changing world.

EMPEA members can access the article by clicking here.

LPs Plan to Accelerate New Commitments to Emerging Markets Private Equity -- Are They Serious?

The findings of the 2010 EMPEA/Coller Capital Survey suggested that investors are increasingly comfortable with the asset class and recognize that emerging markets private equity can generate strong returns to help fund pension and other obligations. Optimism surrounding the asset class is high -- over half (57%) of LPs currently invested in EM PE plan to accelerate their new commitments over the next two years -- but the reality is that general partners are still struggling to raise funds. Through mid-year 2010, EM PE fundraising is on track to match, but not significantly exceed, 2009 totals. The question remains, when will cash flows and commitments return to strength?

EMPEA members can access the article by clicking here.

Inside Perspectives: An Interview with Aureos' Sev Vettivetpillai

Sivendran (Sev) Vettivetpillai, Chief Executive Officer of Aureos Advisers Limited (advisory company to Aureos Capital Limited), sat down with EMPEA's Research Team during the 12th annual Global Private Equity Conference to discuss developments within the asset class from a pan-emerging markets perspective, as well as changes underway at Aureos. Aureos currently manages US$1.2 billion of funds across 10 regional and 6 thematic private equity funds, established through 29 offices across Latin America, Africa and Asia.

EMPEA members can access the article by clicking here.

Regulatory Brief, Including an AIFM Directive Update

A number of significant regulatory changes are afoot in the U.S. and Europe that will directly impact our members with operations and investors in those markets, and likely influence emerging market regulators. Closely monitoring these developments, EMPEA provides a brief update on a number of issues in the spotlight including:

- The European Union Alternative Investment Fund Managers (AIFM) Directive
- South Africa's Taxation Laws Amendment Bill 2010
- The US Carried Interest Tax Debate
- SEC Requirements for Registration of Investment Advisers

EMPEA members can access the article by clicking here.

How to Get Your Copy:

The Quarterly Review is available to EMPEA Members at the close of each quarter free of charge. EMPEA members can access issues of the publication through the Member Login. Please contact empea@empea.net for assistance. Non-members can subscribe or purchase a single issue by visiting EMPEA’s Online Store.

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Previous Issues


EM PE Quarterly Review-VolumeVI-2-June 2010
Publication Date: June 2010
Source: EMPEA
Exclusive EMPEA Members-Only Research. Featured articles include: What Really Lies Ahead for Emerging Markets Private Equity; LPs Plan to Accelerate Commitments to Emerging Markets Private Equity - Are They Serious?; Inside Perspectives: An Interview with Aureos' Sev Vettivetpillai; Regulatory Brief

EM PE Quarterly Review-VolumeVI-1-March 2010
Publication Date: March 2010
Source: EMPEA
Exclusive EMPEA Members-Only Research. Featured articles include: The AIFM Directive's Negative Impact on Developing Countries-EMPEA's Letter to the EU; IFC's Experience in Emerging Markets Private Equity; The ILPA Principles: How Will They Shape LP-GP Relationships in Emerging Markets; 2009 Emerging Markets Private Equity Fundraising and Investment

EM PE Quarterly Review-VolumeV-4-December 2009
Publication Date: December 2009
Source: EMPEA
Exclusive EMPEA Members-Only Research. Featured articles include: 2009 in Perspective and Predictions for 2010: Agribusiness Private Equity: The Fertile Sector

EM PE Quarterly Review-VolumeV-3-October 2009
Publication Date: October 2009
Source: EMPEA
Exclusive EMPEA Members-Only Research. Featured articles include: RMB Funds—The Current State and Way Forward: A Legal and Tax Wish List; Distressed Private Equity: Is There an Attractive Investment Opportunity in the Emerging Markets?; Fundraising and Investment Slows Down Through Mid-Year

EM PE Quarterly Review-VolV-2-June 2009
Publication Date: June 2009
Source: EMPEA
Exclusive EMPEA Members-Only Research. Featured articles include: Plugging the Financing Gap: Is There a Growing Role for Mezzanine and Debt Funds?, 2009 LP Survey Results, Fundraising and Investment Slows in Q1 2009, Digging for Gold: Global Private Equity Reports You Should Read

EM PE Quarterly Review VolV-1-March 2009
Publication Date: March 2009
Source: EMPEA
Exclusive EMPEA Members-Only Research. Featured articles include: "Jump Ball" for Limited LP Capital: Assessing Historical Returns in Times of Crisis, Now More than Ever: The Importance of Corporate Governance and Defying the Downturn? Fundraising and Investment Strong in 2008

EM PE Quarterly Review-VolIV-4-December 2008
Exclusive EMPEA Members-Only Research. Featured articles include: Stress Ahead for Emerging Market GPs and their LPs, How the Global Financial Crisis is Impacting EM PE, The Outlook for EM PE Secondaries

EM PE Quarterly Review-VolIV-3-September 2008
Exclusive EMPEA Members-Only Research. Featured articles include: Responsible Investment in Emerging Markets PE: Is Now the Time for ESG Standards?, Natural Resources in Africa, Venture Philanthropy: A Private Equity Approach to Giving

EM PE Quarterly Review-VolIV-2-June 2008
Exclusive EMPEA Members-Only Research. Featured articles include: LPs Continue to View Emerging Markets Favorably, The Chinese Limited Partner, Rise of the Local Investor

EM PE Quarterly Review-VolIV-1-March 2008
Exclusive EMPEA Members-Only Research. Featured articles include: The State of Emerging Markets Private Equity: Turning a Corner, India: Can Private Equity Deliver Returns from Infrastructure?, Benchmarking Performance: Challenges and Approaches for Emerging Markets

EM PE Quarterly Review_VolIII-4-December 2007
Exclusive EMPEA Members-Only Research. Featured articles include: Continued Improvement in EM PE Performance (Data), Growing Pool of EM Funds of Funds Diversifies, EM Stock Exchanges: You’ve Come A Long Way, Baby

EM PE Quarterly Review-VolIII-3-September 2007
Exclusive EMPEA Members-Only Research. Featured articles include: EMPEA 1H07 Fundraising Statistics, Sub-Saharan Africa: African Private Equity Warming Up, Private Equity Real Estate Investing Booms in Emerging Markets

EM PE Quarterly Review-VolIII-2- June 2007
Exclusive EMPEA Members-Only Research. Featured articles include: Institutional Investors’ Interest in Emerging Markets Private Equity Continues to Grow, Southeast Asia, Understanding the Role of Investment Advisors in Manager Selection, EMP Global’s Don Roth Shares His Views on Emerging Markets.

EM PE Quarterly Review-VolIII-1-March 2007
Exclusive EMPEA Members-Only Research. Featured articles include: Emerging Markets Private Equity Funds Raise Over $33 Billion in 2006, The Middle East and North Africa Private Equity in the Middle East: Some Legal Considerations, Understanding GP Ownership in Emerging Markets Private Equity

EM PE Quarterly Review-VolII-4-December 2006
Exclusive EMPEA Members-Only Research. Featured articles include: Emerging Markets Private Equity: The Current Landscape and the Road Ahead, Latin America, Re-emergence of Latin American Private Equity, Guest Article: 2005 Scorecard on the PE/VC Environment in Latin America and the Caribbean, LPs Seeking Co-investment Opportunities in Emerging Markets

EM PE Quarterly Review-VolII-3-September 2006
Exclusive EMPEA Members-Only Research. Featured articles include: Central & Eastern Europe, Guest Article: DEG Reports Strong Developmental Effects of its Private Equity Portfolio, LPs Increase Interest in Sector-Specific Emerging Markets Funds

EM PE Quarterly Review-VolII-2-June 2006
Exclusive EMPEA Members-Only Research. Featured articles include: China, Secondary Buyers Start Shopping Emerging Markets, The EM Private Equity Benchmark Continues its Ascent, Guest Article: Fee Structures Must be Reformed for Better Alignment of PE Incentives, Global Private Equity Conference Sells Out at 600

EM PE Quarterly Review-VolI-4-December 2005
Exclusive EMPEA Members-Only Research. Featured articles include: A good year for Emerging Markets Private Equity, Emerging Markets PE Returns Improving, EMPEA Launches Second LP Survey, EMPEA Advisor David Rubenstein Shares his Views on Emerging Markets, Russia Emerging Markets Private Equity Grows, but Where are the Local Pensions?

EM PE Quarterly Review-VolI-3-September 2005
Exclusive EMPEA Members-Only Research. Featured articles include: Welcome to Emerging Markets Private Equity Exits: $12BN Returned to Emerging Markets PE Investors Already in 2005, Fundraising for Emerging Markets More than Doubles ‘04 Totals, Emerging Markets Private Equity Forum - London, Dec 13-14, 2005, South Africa Improved Corporate Governance Driving Premium Returns

EM PE Quarterly Review-VolI-2-June 2005
Exclusive EMPEA Members-Only Research. Featured articles include: Clouds and Sunshine in Latest Benchmark Figures EMPEA Symposium - Investment Conditions Improving, Feature Country Report - Brazil Support Grows for International Valuation Standards, US Industry Leaders Target Emerging Markets

EM PE Quarterly Review-VolI-1-March 2005
Exclusive EMPEA Members-Only Research. Featured articles include: Emerging Markets Fundraising up Significantly for ‘04, New Funds of Funds Increase Options for Emerging Markets PE Investors, EMPEA & Cambridge Associates Collaborate on Performance Index