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Topic: Private Equity
Edging Out the Competition – The Sector Specialist Advantage
Unlike the early days of private equity, when generalist private equity firms predominately relied on financial engineering to generate returns, today’s competitive markets require a much deeper...
Approach to Sustainability Assessment and Reporting
In recent years, sustainability-focused investing has taken on many names and has been at the center of polarizing political conversations. CF Private Equity’s approach to mandates surrounding...
Charting the Course: Where Generative AI Could Be a Game-Changer
The rise of generative artificial intelligence (AI) in creating text, images, music, and videos marks a new technological era. Incumbent business leaders are eager to incorporate this technology to...
Challenging Headlines Abound for “Cleantech 2.0” – As Opportunities Persist
Market cycles of euphoria followed by the inevitable hangover are not new for investors – but some headaches are sharper than others, the worst of which can blur one’s vision the morning after.
Why Europe? Why Now?
The Case for Private Equity Investments in Europe’s Lower Mid-Market
Four Key Takeaways From an ALTS Conference
ALTSDC – is an education-focused alternative investment event designed to bring the investor community together to discuss the most relevant topics to investors and managers today. The event is...
Is the Generative AI Opportunity Bigger than the Software and IT Markets?
We are entering the next phase where start-ups harnessing generative artificial intelligence (AI) possess the potential to fundamentally re-invent the $65T services market. This opportunity...
The Secondary Market is Vaulting Over Prior Records
2024 is expected to be a record year for secondaries, but the market volume should be even larger. The secondary market remains undercapitalized and under-resourced. Investors are unable to transact...
Are Mega-Cap Technology Stocks Enough to Ride the AI Wave?
The past 18 months have witnessed the dominance of a small group of tech stocks in the U.S. equity market. Collectively dubbed the Magnificent Seven (Mag 7)1, these stocks as a basket have...
Navigating Co-Investments in Today’s Environment
The macroeconomic landscape in recent years has presented certain challenges for both private equity General Partners (“GPs”) and Limited Partners (“LPs”). Deal activity and distributions were...
Keeping the Lights On - The Outlook for American Power
The historically staid market for power generation is having a very public moment right now, particularly in the United States. Operating as a set of regional grids, these power markets are straining...
Seeking Alpha in A World of Private Equity Beta
Deep sector expertise is a differentiator in the pursuit of alpha-like private equity returns.
Insights from CF Private Equity Roadshow: Real Assets & Sustainability
Over the last few months, the CF Private Equity RAS team members Ethan Levine, Head of Real Assets and Sustainability and Dan Connell, Managing Director hosted two roundtable lunch discussions with...
Not Your Grandparent’s Farm: Emerging Opportunities in an Often-Overlooked Sector
The Rationale for Investing in Agriculture: Growth, Diversification, Sustainability, Inflation Hedge Commonfund Forum 2024 convened a panel to examine emerging trends and opportunities for private...
Will AI Save the World or Ruin It?
Commonfund hosted its annual Commonfund Forum, March 10-12th, in Orlando, Florida. The agenda included a range of sessions on relevant topics for institutional investors. This Forum Spotlight...
CF Private Equity Closes its 4th Secondaries Fund at $1.1 BN
Commonfund Capital Secondary Partners IV, L.P. significantly exceeded its $750 million target.
Opportunities in Sustainability Private Investing
Global macroeconomic trends signal an increased level of investment in the climate and energy transition sectors, despite broader market volatility over the past few years, as investors aim to seize...
Cash is Queen
2023 was the lowest year in 10 years for U.S. private equity distributions.1 Without the cash from exits, private equity investors are struggling to commit to new private equity funds. Lessons...
Private Equity in 2024: Where Do We Go from Here?
2023 WRAP-UP 2023 marked a second straight year of lower deal volumes for private equity following the record-breaking activity of 2021. U.S. private equity aggregate deal value declined to $645.3...
Private Markets Year-End Letter and 2024 Outlook
As we enter our 36th year, we write to share with you our year-end letter and observations of what may be ahead in 2024 in the private equity investment environment.
COP28 Reflections: Can Intention Be Met With Action?
The 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (“COP28”) recently concluded in Dubai on December 13th, 2023. Unique to this year’s conference was the...
The Rising Cost of Debt: Impact on Private Equity
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...
Venture Capital Valuation "Marks": What’s in Your Wallet?
In order to underwrite new commitments in an uncertain market environment, it is critical to normalize valuation methodologies and deeply analyze underlying portfolio companies.
Inflation Reduction Act: Catalyst for U.S. Domestic Solar Manufacturing
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....
Is Venture Capital Going Back to the Future? Reemergence of the Power Law of Returns
The importance of manager selection is back.
Investing in the Sustainable Evolution of the Industrial Ecosystem
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...
Are LP Secondary Transactions Racing to a Record Year?
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...
Is Now the Right Time to Invest in Venture Capital?
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...
In Private Equity Buyouts Operational Expertise Is the Key to Unlocking Value
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...
Is the Future Bright for Secondaries?
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...
LP-Led Secondaries: The Core of the Secondaries Market
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...
Why Does Blockchain Matter?
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,...
Investing into Energy Security
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...
Founding Partner of MiddleGround Capital Answers Three Questions
Commonfund Capital Managing Director, Mark Hoeing, interviews Lauren Mulholland, Founding Partner of MiddleGround Capital in this Commonfund Manager Spotlight.
Is There Method in the Madness of Today’s Crypto Market Chaos?
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...
Private Equity: Responding Tactically, Changing Strategically
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...
Measuring Success with Private Equity
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...
Accessing Sustainable Opportunities Through Private Equity Strategies
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...
2022 Private Markets Investor Sentiment Survey
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...
Secondaries 2021 – A Buyers’ Market
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 - Commonfund Coffee Talk
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...
Commonfund Capital Closes 3rd Global Private Equity Fund at $236 Million
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...
Commonfund Capital Closes its Third Co-Investment Fund at $160 Million
Commonfund Capital Co-Investment Opportunities III, LP includes Capital Commitments from Foundations, Endowments, and Family Offices
Venture Investing: Insights into China’s Dynamic Healthcare Industry
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...
Trends in the Growing Secondary Market
"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...
Allocating to Illiquid Investments
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...
Stellex Capital Management
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 Tech Effect and Direct Venture Growth Investing
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...
2021 Private Markets Investor Sentiment Survey
Institutional investors continue to increase allocations to private strategies. Commonfund Capital’s fourth annual private markets investor sentiment survey shows trends continue despite the pandemic...
How to Measure Private Equity Investments
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...
Secondaries Market During the COVID Pandemic
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...
Seven Ways to Diversify Your Private Equity Portfolio
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;...
Private Capital Secondary Market | An Overview
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...
How to Select a Private Equity Manager
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...
Ardent Venture Partners
Commonfund Board Member, Michael Warren, interviews Phil Bronner of Ardent Venture Partners.
2020 Investor Survey: Private Markets Sentiment
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...
Integrating ESG into Private Equity Portfolios
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...
Emerging Markets Private Equity — A Focus on China
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...
Commonfund Forum Goes Global
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...
Three Considerations for Your Private Equity Structure
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...
An Investor’s Private Equity Guide
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...
Private Equity Market
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 Equity Allocation
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 Head of Beijing Investment Office
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,...
Commonfund Capital Closes 2nd Secondaries Fund at $450M
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...
Private Market Investing vs Public Market Investing, What’s the Big Difference?
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...
5 Steps to Success in Private Equity Investing
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...
Succeed In Private Equity Investing
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
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...
The Evolution of the Private Equity Secondaries Market
Cari Lodge, head of secondaries at Commonfund Capital, discusses the development of the secondaries market for private equity and opportunities that it offers investors.
Private Capital: Key to Unlocking Growth in Emerging Markets
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...
Brightwood Capital Advisors
Commonfund's Caroline Greer interviews Sengal Selassie, Co-CEO and Co-Founder of Brightwood Capital Advisors in this Commonfund Manager Spotlight.
What’s the Difference? Time-Weighted Return vs. Internal Rate of Return
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...
Making the Case for Investing in Natural Resources
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,...
The Misperception of Illiquid Investments
With many market participants expecting low nominal returns across traditional asset classes in the coming years, the challenge of structuring a portfolio to achieve CPI +5%, or long-term purchasing...
Venture Capital - Looking Forward and Upward
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...
Asset Allocation with Private Equity
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...
Emerging Markets: Balancing Risk and Reward
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’...
Global private equity: what and why
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...
Private Equity: Perception and Reality
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...
How Liquid are Private Capital Investments?
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...
‘What, me? Illiquid?’
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...
Real Assets and Sustainability Investing Post-2024 Election