THE LINE_

The investor relations team is, in many ways, the glue that holds a private markets firm together; a vital bridge between the investment, operational, compliance and finance teams. Given the liquidity constrained fundraising environment, which looks set to continue well in 2025, ensuring the IR team is firing on all cylinders has never been more important. Today's IR team requires a vast range of skills and experience, including qualitative and quantitative skillsets; the technical acumen to read an LPA, to understand performance metrics, financials as well as benchmarking abilities. It's against this backdrop that Karen Sands, COO at Federated Hermes Private Equity has led the transformation of the firm's IR team. 👀 Find out how she did it here: https://lnkd.in/g3KiGuTG #privateequity #investorrelations #COO #fundraising

Thank you, Alice Murray and THE LINE_ for the great conversation about The Working Guide to Fund Finance! We are thrilled to see the book resonating as a valuable resource for the industry. 🎧 Listen to the conversation: https://lnkd.in/db2zCexf 📖 Read the feature: https://lnkd.in/dMwhe4-T Excited to hear everyone’s thoughts! #FundFinance #PrivateEquity #Brickfield #TheWorkingGuideToFundFinance

🧐 Super interesting and must-read article by Ted Bililies, Ph.D. of AlixPartners, in the Harvard Business Review.   https://lnkd.in/eJ6UbJQn Successful Private Equity Firms Manage Talent Differently According to Bililies:   Longer hold periods, greater competition and higher interest rates are raising the bar on performance. Today, operational performance now accounts for twice as much value creation as buying well and financial engineering.    👉 Enter: PE Talent 2.0  Here are some behaviours displayed by PE firms advancing their talent management   🗺️ Behaviour 1: connect talent to value creation at the very beginning – as part of the investment strategy and deal planning.   🏃♀️ Behaviour 2: active talent management (rather than passive) - once the right people have been put in place, provide programs to help them grow.   👨👨👧👦 Behaviour 3: double down on succession planning. Says the author: “A majority — 55% of portfolio companies, 54% of PE firms — say succession planning is not a priority or they have no process in place. That’s a failure of governance. Almost all the rest — 47% of portfolio companies, 43% of PE firms — say they cannot find internal candidates. That’s a failure of talent management and leadership development.”  🌐 Behaviour 4: talent creates value at all levels – address the organisation as a whole (rather than simply focusing on leadership).   💪 Behaviour 5: empower human capital partners to improve talent management across portfolio companies AND the GP.   📑 Behaviour 6: talent is a board meeting topic.  📊 Behaviour 7: embrace data, eg employee engagement surveys, attrition rates, morale and sentiment analysis, DEI data.  

📢 BVCA calls for member views on carried interest consultation The Government has taken a clear decision on taxing carry as trading income but with a differentiated rate recognising the importance of the private capital industry, and is now consulting on how best to design that new regime. Members can respond to the BVCA’s questionnaire here: https://lnkd.in/eNJeenER? The questionnaire is open until 20 December 2024.

We had an engaging breakfast discussion on AI and Talent this morning, diving into the developments of AI and how it’s reshaping the skillsets of Private Markets professionals.   Co-hosted with THE LINE_, we explored how AI is being integrated into workflows and highlighted emerging use cases for the industry. One key focus was on how AI is transforming the way junior professionals work—both positively and, in some cases, with challenges to navigate.   Featuring valuable insights from Matt Guy, Kevin Muller, Alex Ford, and Alice Murray, at the heart of the conversation was the recognition that the technology itself is rarely the challenge; instead, success often depends on how people use it and on growing the right internal culture.   There’s still much to unpack!   Stay tuned for the key takeaways from this session, which will be shared here soon - follow us on LinkedIn to ensure you don’t miss out!   A big thank you to the panellists and everyone attending for making it a highly engaging session! Jeremy Hocter | Katie Brown | Tim Friedman #ai #privateequity

In my career, I’ve had the privilege of working with hundreds of private capital and other alternative investment firms, each with its own unique approach to power their reporting. From early-stage funds using Quickbooks and basic spreadsheets to established players enhancing more mature systems in order to get even more outcomes. What stands out most is how much opportunity lies in building a solid foundation for your data—no matter where you are in your software journey. This is why I’m excited to share the first installment in my new series: How to Build Manual Fund Operations Databases. In other words, how to get the most out of Excel (or the like) before you adopt a better solution, like ENTRILIA! This article is packed with lessons learned from years of migrations and implementations, designed to help fund managers make the most of tools like Excel while preparing for a future transition to something more sophisticated. 💡 Highlights include: 🔸 Why it’s critical to distinguish between master and transactional data. 🔸 Tips on using parent-child relationships for better reporting. 🔸 How linking legal documents to data can streamline operations for your team. Whether you’re just getting started or already managing complex fund operations, I hope this serves as a helpful resource. https://lnkd.in/eGm59s_B

Kicking off our series of Regulatory How To Guides, we here explore the most complex and cumbersome aspects of AIFMD II. https://lnkd.in/gAm__3NE A huge thanks to Mark Shaw of Pinsent Masons for his candid insights 👏 #regulation #privateequity #compliance #AIFMD

The long wait is over, the capital gains tax rate applicable to carried interest increases to 32% from April 2025. However, further changes to come in April 2026. A consultation on what those changes might be runs until 31 January 2025. Under consideration: a minimum co-investment requirement and a minimum period between a carry award and receipt. 💼 The bottom line: the increase keeps the UK’s rate of CGT on carry broadly in line with its European and US counterparts. A move towards a co-investment would also keep the UK’s treatment of carry in line with its European neighbours. #UKBudget #AutumnBudget #privateequity #tax #alternatives

Really looking forward to our webinar tomorrow where we'll be taking a long look at the current risk landscape, delving into: - Geopolitical threats 🌍 - Sanctions 🚫 - Digital supply concentration risk 💻 All super timely and important topics as the US election approaches, coupled with the looming DORA implementation deadline. Register here: https://lnkd.in/eb4fKffU #risk #geopolitics #digitalsupply #cybersecurity #DORA #operationalresilience #compliance #regulation #sanctions #operatingmodel #riskregister #privateequity

A must watch / listen! 😍