Latest Research

EMPEA Industry Statistics & PitchDeck 1H 2010 (.ppt - Members)
Publication Date: August 2010 | Source: EMPEA


EMPEA Industry Statistics & PitchDeck 1H 2010 (.xls - Members)
Publication Date: August 2010 | Source: EMPEA


EMPEA Industry Statistics & PitchDeck 1H 2010 (.ppt - Public)
Publication Date: August 2010 | Source: EMPEA


Emerging Markets Private Equity Investment Totals Set to Beat 2009
Publication Date: August 2010 | Source: EMPEA


Webcast: Evolving Key Terms & Conditions in Today's EM PE (May 2010)
Publication Date: 05/19/2010 | Source: EMPEA
The past two years have been a challenging period for fund sponsors and investors in all jurisdictions, including emerging markets. The market leading experts at Debevoise & Plimpton LLP will discuss the changing landscape of emerging markets private equity fund formation, including key terms and conditions that sponsors and investors must consider in organizing and operating emerging markets funds.

Webcast: Private Equity Investing in the Middle East, North Africa and South Asia (June 2010)
Publication Date: June 30, 2010
The economies of the Middle East, North Africa and South Asia (MENASA) have weathered the global economic recession well. This year and beyond are likely to be exciting years for the regional private equity industry, driven by growing demand from a young and expanding population. Join industry leaders from Abraaj Capital as they discuss how investors should best evaluate private equity opportunities and mitigate potential risks in the MENASA region.

Regulatory Brief, Including an AIFM Directive Update (June 2010)
Publication Date: June 2010 | Source: EMPEA
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 market, 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

Inside Perspectives: An Interview with Aureos' Sev Vettivetpillai (June 2010)
Publication Date: June 2010 | Source: EMPEA
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.

LPs Plan to Accelerate New Commitments to Emerging Markets Private Equity - Are They Serious? (June
Publication Date: June 2010 | Source: EMPEA
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?

What Really Lies Ahead for Emerging Markets Private Equity (June 2010)
Publication Date: June 2010 | Source: EMPEA
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.

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

The Anatomy of Private Equity Investments in the MENA Region (June 2010)
Publication Date: June 2010 | Source: Harvard Business School, GrowthGate Capital Corp.
Private equity investors worldwide have been rattled by the consequences of the global financial crisis. This has certainly been true of the Middle East and North Africa region, where a PE market of limited maturity has taken a significant hit in fundraising and seen its peculiar investment landscape change in different ways: from longer investment holding periods to government reforms that could pave the way for larger deal sizes in the long-term than the existing mid-cap market has to offer.

EMPEA Insight: Brazil (May 2010)
Publication Date: May 2010 | Source: EMPEA
Brazil’s economic performance over the last two years has inspired tremendous optimism among investors circling Latin America’s largest economy for opportunities. The International Monetary Fund projects that Brazil’s economy will grow 5.5% in 2010. The confidence in Brazil’s future is echoed by institutional investors. For the second year in a row, Brazil ranked as the second most attractive emerging market for private equity investment in the 2010 EMPEA / Coller Capital Emerging Markets Private Equity Survey.

EMPEA Insight: Cleantech (April 2010)
Publication Date: April 2010 | Source: EMPEA
Approximately 25 private equity funds dedicated to cleantech investing in emerging markets have been launched since January 2009, although EMPEA estimates that emerging markets drew less than 15% of total private equity investment in cleantech per year in both 2008 and 2009. However, emerging markets are ascending as leaders in cleantech adoption and innovation, with nations such as China, India and Brazil demonstrating that environmental issues rank high among national priorities.

Emerging Markets Private Equity Fundraising/Investment Review (2009)
Publication Date: April 2010 | Source: EMPEA


Emerging Markets Private Equity Survey (April 2010)
Publication Date: April 2010 | Source: EMPEA/Coller Capital


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

EMPEA Insight: MENA (March 2010)
Publication Date: March 2010 | Source: EMPEA
Private equity activity in the Middle East and North Africa (MENA) region slowed in 2009. Funds dedicated to MENA raised a total of US$1.1 billion in 2009, from a record high of US$6.9 billion raised in 2008. Investments were similarly sluggish in 2009, although falling less steeply, at US$2.2 billion (34 deals) from US$3.4 billion in 2008 (67 deals)...

EMPEA Insight: Central & Eastern Europe (CEE) (Jan/Feb 2010)
Publication Date: Jan/Feb 2010 | Source: EMPEA
The private equity industry in Central and Eastern Europe (CEE), inclusive of Southeastern Europe and the Baltics, has faced a number of challenges over the past year. Institutional investors interested in building an emerging markets private equity allocation strategy have often first dipped their toes in the water with funds focused on CEE due to a lower perceived degree of risk based on the region’s economic ties to Western Europe.

EMPEA Insight: Sub-Saharan Africa (October 2009)
Publication Date: October 2009 | Source: EMPEA
The Sub-Saharan African opportunity represents one of the biggest growth stories in emerging markets private equity. Once generally overlooked by investors, fundraising activity in Sub-Saharan Africa has almost tripled from US$800 million in 2005 to over US$2.2 billion in 2008.

Distressed PE: Is There an Attractive Investment Opportunity in the Emerging Markets? (October 2009)
Publication Date: October 2009 | Source: EMPEA
The term “distressed” has become ubiquitous in light of a growing number of opportunities created by the dislocation in the credit markets. One limited partner (LP) active in distressed investing sums up the current landscape: “The model of good companies with bad balance sheets is quickly being replaced by great companies with terrible balance sheets.”

RMB Funds—The Current State and Way Forward: A Legal and Tax Wish List (October 2009)
Publication Date: October 2009 | Source: EMPEA
Recent headlines on interest in establishing RMB-denominated funds in China underscore the growing importance of issues relating to the coexistence of domestic and offshore fund sponsors and capital not only in China, but across the emerging markets.

Fundraising and Investment Slows Down Through Mid-Year (October 2009)
Publication Date: October 2009 | Source: EMPEA
After bucking the global trend to raise a record-breaking US$66.5 billion in 2008, the emerging markets registered a dramatic slowdown in both new capital commitments and investment activity between January and June 2009 (1H).

EMPEA Insight: China (September 2009)
Publication Date: September 2009 | Source: EMPEA
Investors continue to be extremely optimistic about China. The country’s growth story not only remains intact, but is also enabling China to ascend in the global economic order and lead other economies out of the financial crisis.

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

EMPEA Insight: India (July/August 2009)
Publication Date: July/August 2009 | Source: EMPEA
Private equity activity in India has grown rapidly over the last five years, buoyed by a surging economy with annual growth rates averaging over 8.5% through the end of 2008.

Fundraising and Investment for EM PE Slows in Q1 2009 (June 2009)
Publication Date: June 2009 | Source: EMPEA
Both fundraising and investment activity in the emerging markets slowed significantly in the first quarter of 2009, evidence that the global slowdown in private equity had indeed spread beyond developed markets.

LPs Still Find Emerging Markets Private Equity (June 2009)
Publication Date: June 2009 | Source: EMPEA
Emerging markets continue to present attractive investment opportunities, particularly in comparison to developed markets, according to Limited Partners (LPs) that participated in the 2009 EMPEA/Coller Capital Emerging Markets Private Equity Survey undertaken in January-February of this year.

Plugging the Financing Gap: Is There a Growing Role for Mezzanine and Debt Funds? (June 2009)
Publication Date: June 2009 | Source: EMPEA
EMPEA’s first quarter statistics confirm that the emerging markets have not been immune to a dramatic slowdown resulting from the global financial crisis. Both fundraising and investment figures have dropped in the first three months of 2009...