As the cost of debt has risen and its availability has fallen, deal-making within private equity (“PE”) has slowed. PE firms that have historically been overly reliant on leverage in financing...
In order to underwrite new commitments in an uncertain market environment, it is critical to normalize valuation methodologies and deeply analyze underlying portfolio companies.
In the context of rising resource security concerns amid the energy transition, legislators and regulators across the developed West are making a concerted effort to re-orient resource supply chains....
CF Private Equity’s Real Assets and Sustainability team recently hosted a fireside chat webinar with the Noveon Magnetics CEO, Scott Dunn. Preceding this conversation was a brief overview of CF...
In the 1st half of 2023, global secondary market volume was down 25 percent year-over-year (“YoY”), decreasing from $57 billion to $43 billion1. This was partially driven by the 24 percent YoY...
History has shown corrections can be a catalyst for opportunity The news cycle and leading economic factors have caused institutional investors to ponder their portfolio allocations in the short run...
A successful private equity buyout is often credited to shrewd financial diligence—overlooking sector-specific operating expertise where hidden value is uncovered. Mega-buyouts may capture the...
The continued growth of private equity may lead to a bright future for secondaries as: ~$12.7 trillion of capital has been raised in the last 15 years in private equity, and Over 43,500 funds have...
As we leave 2022 behind, CF Private Equity reflects on today's private markets and what the investment environment looks like for investors in the coming year. 2023 marks the beginning of CF Private...
Institutional investors continue to increase allocations to private strategies – but with some cautiousness and an increasingly targeted approach. CF Private Equity’s sixth annual private markets...
Peter Burns to Retire as President and CEO of Commonfund Capital, Inc. in 2023, Mark Hoeing Named Successor Wilton, CT, December 1, 2022 – Commonfund Capital, Inc., the private equity subsidiary of...
If one ever questioned whether LP-led secondaries were core to the secondaries market, one would only need to consider two factors: (1) the number of funds raised in a given year and (2) investors...
We believe there is a generational platform shift underway in technology and its magnitude of impact could be as transformational as was the birth of the internet — and it is transparent,...
On February 24, 2022, Russia fired the first shots of its unprovoked invasion of Ukraine, setting off a cascade of global changes that systemically altered the world order. The horrific humanitarian...
Commonfund Capital Managing Director, Mark Hoeing, interviews Lauren Mulholland, Founding Partner of MiddleGround Capital in this Commonfund Manager Spotlight.
In recent months crypto markets have experienced extreme volatility and drawdowns, and it is self-evident that the next “crypto winter,” or prolonged bearish period, is upon us. However, these price...
The current year has seen an enormous amount of change packed into a few months: breakout inflation, rising interest rates, war in Ukraine, COVID mutations and stubborn supply chain problems. We know...
In early May, Commonfund had the opportunity to participate in the NACUBO Endowment Leadership Series by delivering a virtual learning session entitled, “Measuring Success with Private Equity”. The...
Institutional investors around the world have appropriately turned their attention to the sustainability of their investment portfolios. Investors have pivoted from discussion to action as generally...
Commonfund Capital Closes its Inaugural Environmental Sustainability Fund at $233 million Private Equity Fund Focuses on Renewables, Food, Agriculture and Water and Resource Efficiency Wilton, CT,...
Institutional investors continue to increase allocations to private strategies – but with some caution and an increasingly targeted approach. Commonfund Capital’s fifth annual private markets...
What was once a nascent market, Secondaries has become both an innovative tool for general partners to hold onto their best assets, “Crown Jewels”, and a provider of liquidity to a formerly illiquid...
The Price of Liquidity for Perpetual Investors Our third and final Coffee Talk focused on the most important and impactful decision endowments and foundations can make within their strategic asset...
Wilton, CT, September 21, 2021 – Commonfund Capital today announced the closing of its third secondaries fund, Commonfund Capital Secondary Partners III, L.P., at its hard cap of $675 million. The...
Commonfund Capital Global Private Equity Partners III, L.P. Includes Capital Commitments from Pensions, Foundations, Endowments, Insurance Companies and Family Offices Wilton, CT, September 15, 2021...
Seeking growth and diversification, institutional investors have long included emerging markets exposure in their portfolios. The agenda for Commonfund Forum 2021 included a session dedicated to...
Wilton, CT April 6, 2021 - Commonfund Capital, Inc., the private markets subsidiary of Commonfund, announced today the appointment of Mark Radville as Managing Director on the business development...
"The secondary market has become a mainstay for investors, both as 1) more investors move into the secondary market and, 2) as a way to manage investors' existing private portfolios. Both sides of...
Commonfund Capital Venture Partners XIII, L.P. includes Capital Commitments from Foundations, Endowments, Pensions and Family Offices Wilton, CT March 18, 2021 – Commonfund Capital today announced...
Stewards of endowments have long been advised that allocating to illiquid investments is critical to achieving long-term returns. Rather than trust conventional wisdom, Commonfund conducted research...
In celebration of Black History Month, Commonfund Institute Executive Director, George Suttles, and Commonfund Director, Nicole Melwood, interview Ray Whiteman, Managing Partner and co-Founder of...
The venture growth and late stage venture capital (“VC”) market has matured over the last 10 years, and direct investing has emerged as an attractive strategy for Limited Partners (“LPs”) to...
Private capital investors use a particular set of quantitative and qualitative measures to assess performance. While the standard benchmarks used for marketable securities are sometimes applied to...
The COVID-19 pandemic continues to impact the world in unprecedented ways. There is still much uncertainty including about when a vaccine will be ready and how schools reopening in the fall will...
A strong private capital program requires consistent, diversified investing over time. It is also necessary to have— or obtain externally— resources for research and due diligence before you invest;...
COVID-19 is impacting the world in unprecedented ways. Today, it is estimated approximately 75 percent of the U.S. population or, almost 250 million people, are staying at home. Globally, over 1.5...
Are you are considering investing directly with a private equity manager? If you opt to go direct, you will be tasked with selecting, managing and disposing the assets entirely on your own. It may be...
For the third year in a row, Commonfund Capital conducted a year-end annual survey of institutional investors to gauge their sentiment about private market investments. Survey responses totaled 267...
Many investors today, particularly nonprofits, are seeking to align their investment portfolio with the mission of their organization. Commonfund is a signatory to the PRI and as part of our...
Commonfund recently hosted a talk on evolving private capital opportunities in emerging markets. Mark Hoeing, Head of Private Equity, moderated the discussion, while Aaron Miller, Head of Venture...
During the week of October 14th, 2019 Commonfund Institute hosted our first Forum outside of the United States in Tokyo, Japan. We were honored to be joined by many leading Japanese institutional...
This is the third blog in a private equity series based on our guide, “Succeed in Private Equity Investing”. You can see the previous blog here. Having determined the size of your private capital...
Commonfund recently hosted a panel discussion focused on the current state of private equity and venture capital, with an emphasis on the investor’s perspective of the industry today. The three...
Commonfund head of private equity, Mark Hoeing, will discuss views of the private equity market and share research insights into portfolio construction.
Building a private capital allocation that makes a difference to your portfolio takes time and dedication. The first step is deciding to make a meaningful allocation to private capital. Then, to...
Commonfund Capital Appoints Xiaonan Tian as Associate Director and Head of Beijing Investment Office Wilton, CT June 25, 2019 – Commonfund Capital, the private capital subsidiary of Commonfund,...
Commitments More than Double Capital Raised for Inaugural Secondaries Fund in 2016 Wilton, CT, May 7, 2019 – Commonfund Capital today announced the closing of its second secondaries fund, Commonfund...
The first step of successful private market investing is to learn what private capital is, what its risks and rewards are, and how it differs from public market investing. Private capital provides...
Investors participate in private equity markets for two main reasons: to pursue increased investment return and to add portfolio diversification. Even well-informed investors who are experienced in...
Interested in exploring private Equity investing? Even well-informed investors can be uncertain about private market investing. In addition to possessing good public market knowledge and expertise,...
Commonfund Capital Closes 12th Venture Capital Fund at $432M Wilton, CT, October 5, 2018 – Commonfund Capital today announced the closing of its 12th venture capital fund, Commonfund Capital Venture...
Cari Lodge, head of secondaries at Commonfund Capital, discusses the development of the secondaries market for private equity and opportunities that it offers investors.
After a turbulent period, emerging markets have delivered double-digit returns in recent years. Private investments in emerging markets offer a way to diversify beyond the public markets and, in...
Investors often ask about the difference between time-weighted return (“TWR”) and internal rate of return (“IRR”). In general, TWR is used by the investment industry to measure the performance of...
The natural resources sector is often characterized as cyclical, as producers and service providers experience underlying exposure to and commensurate volatility of commodities in the oil and gas,...
Beginning in the second half of 2015, there was growing caution that started to impact pricing and investment activity in early 2016. This valuation cooling period and subsequent shift in mindset...
Reprinted from Volume 17, Number 1, 2016 of The Journal of Investment Consulting by Mark J.P. Anson Private assets such as private equity and venture capital have long been a thorn in the side of...
Investors poured $2 trillion into emerging economies between 2009 and 2014. Then prices for a basket of commodities fell—dragging crude oil down to levels not seen in a decade and dashing investors’...
What and Why An article in the previous issue of Insight sought to discern the difference between perception and reality in private equity investing generally, and included a companion article...
For a variety of reasons, some investors believe that private equity may have lost its edge as a key allocation for their portfolios. This perception may overlook reality. A closer examination...
In the wake of the Global Financial Crisis, institutional investors were rightfully concerned about the liquidity profiles of their long term portfolios. Although markets have recovered substantially...
Although it has been five years since the collapse of Lehman Brothers—an event that transformed a bad recession into a global financial crisis—the scars of that traumatic episode remain etched in the...
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The Rising Cost of Debt: Impact on Private Equity