Ideas
Fresh thinking on global private markets
Incisive commentary and insightful analysis for forward-leaning entrepreneurs and investors.
The Portico Podcast
Listen to our latest episodes and learn more about each interview.
Episode List
Simon Clark on The Key Man
An interview with Simon Clark, co-author of The Key Man
The Abraaj Fiasco
I wanted to experiment with a different format for this episode and share my writings on the Abraaj fraud scandal as they were happening in…
Viktor Shvets on The Great Rupture
An interview with Viktor Shvets, global strategist at Macquarie, about the information and financial revolutions and what they mean for the future.
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Our Thinking
Peruse previous editions of Portico Perspectives and read our research studies.
Passages
Voyages through a vanished world with a newborn; Profit from Purpose; Deals!; Tough Crowd; Risky Business; GP Stakes; Patrick Leigh Fermor
Illusions and Delusions
On the gap between image and reality; 401(k)s — The Final Frontier; Future Fund; Norway on Governance; Social Capital; Nostalgia for the Absolute
Liquefaction
Amidst global political instability, the most valuable attribute is a flexible mandate; Herd Behavior; KYC; Add-Backs; Short-Termism; Impact Investing; Adda Bozeman
The Work
Year three begins; Advent + Walmart Brazil; African PE: Quo vadis?; Creador + Goldman on Asia; Mr. China Meets the Mekong; A Most Damning Indictment; and, “The Odyssey”
An Extractive Industry
The Toys “R” Us bankruptcy prompts a jeremiad on LBOs; Abraaj: Redux; CEE; India; Turkey; Grapes of Wrath
The Wealth of Nations
A walking safari in Tanzania prompts a question: who’s wealthier, a Maasai elder or your average American?
Questions of Leadership
Key themes from IFC and EMPEA’s Global Private Equity Conference included leadership, governance, and transparency
Transparency & Governance
A reflection on transparency and governance. Also features: Abraaj, Norway’s sovereign wealth fund, Bain & Co, The Dhammapada
The White Stripe
Drama at The Abraaj Group continues, EM Fundraising trends, Performance of EM PE, Persistence
The Evolution of Private Equity in Emerging Markets
A brief history of private equity in emerging markets, an analysis of industry performance, and thoughts on its future.
Veritas
Last month, the New York Times published a fascinating article about the market for followers on Twitter. (Disclosure: shareholder of NYT and TWTR). The manufacture…
Bulls on Parade
The animal spirits are palpable. Though U.S. markets have seemed to be fully valued for some time, the price action since the ball dropped on…
Does EM PE Scale?
Does the emerging markets private equity asset class scale? No. I don’t believe it does. In fact, I think the absorptive capacity of EM PE…
Does the Emerging Markets Private Equity Asset Class Scale?
An analysis of exits in emerging markets suggests EM PE / VC fundraising may need to come down to $16 billion per year
Dumb Money
An LP calls private equity the dumb money in emerging markets, more than $34 billion is being raised in Asia and KKR is bringing leveraged loans to China, LP views on Latin America, Facebook enters small business lending, Turkey turns around? Eric Hoffer’s “The True Believer”