Pressing Pause
Wrapping up year three as an entrepreneurial venture. Also: African Startups; ILPA Principles; Bia; Food for Thought; Beach Reading; Vasily Grossman.
Expectations v. Reality
Expectations of 3x from emerging market private equity funds are unreasonable
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”
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…
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…
The Mid-Market Squeeze
Discusses KKR’s report on Indonesia, Abraaj Group’s acquisition of the coffee chain Nairobi Java House, challenges Aubrey Hruby’s article in the FT that private equity will drive manufacturing sector development in Africa, shares some beach reading ideas
More Dickensian by the Day
LP sentiment toward emerging markets, high net worth investor interest in private equity, Helios-GBFoods, Hispanophone deals in Africa, Baring Asia and CPPIB take Nord Anglia private, Blackstone joins the private debt party in India, The Ramayana
First Move
Private equity deal flow in Africa, Zabka Polska, Consumer sentiment in Latin America, Carroll Quigley’s “Evolution of Civilizations”
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