The Alternative Investment Fund Managers Directive sets operational and disclosure standards for fund managers across the EU. Institutional investors must understand AIFMD compliance requirements when allocating to European-domiciled or EU-regulated alternative funds.
Private equity buyouts represent the core investment mechanism through which PE funds acquire control of operating companies. This article examines acquisition mechanics, leverage structures, value creation frameworks, and exit strategies—essential knowledge for long-term allocators evaluating PE ex
Institutional investors increasingly allocate to private credit as an alternative to public fixed income. This guide examines core strategy types, manager selection, and implementation frameworks for long-term capital.
Growth equity and venture capital are distinct private markets strategies serving different company lifecycle stages. Understanding their structural differences—from capital requirements to governance—is critical for long-term portfolio construction.
Fund of funds vehicles allow institutional investors to gain diversified exposure to private equity through multiple underlying managers and strategies. We explain the structural mechanics, fee implications, and governance considerations for long-term allocators.
Direct investment in private equity represents a structural alternative to traditional fund commitments, enabling institutional allocators to participate in deal-level economics while exercising meaningful governance oversight. This article examines mechanics, cost structures, and implementation req
Co-investment programmes allow asset owners to deploy capital directly in private markets deals, bypassing fund fees and gaining board-level visibility. This article examines the governance structures, legal vehicles, and partnership models institutional investors use to scale these programmes.
Public Market Equivalent benchmarking has become the industry standard for evaluating private equity performance. We examine methodologies, institutional implementation, and the implications for allocator governance.
Private equity compensation structures—management fees and carried interest—determine GP behavior, fund economics, and LP returns. Understanding their mechanics and market evolution is essential for allocators evaluating manager selection and fund terms.
Clawback provisions are contractual mechanisms enabling limited partners to reclaim distributions from general partners under specified underperformance conditions. They serve as a critical governance safeguard in private equity fund agreements, particularly for pension funds and sovereign wealth fu
Internal Rate of Return and Multiple on Invested Capital serve different purposes in private equity evaluation. Institutional investors must understand both metrics to assess true manager performance and allocate capital effectively.
Institutional investors evaluate private equity performance through three core metrics: DPI measures cash distributions, RVPI captures unrealized value, and TVPI combines both. Understanding these multiples is essential for CIOs allocating to private markets and assessing manager quality.