PEI Asia, July/August 2009, Mapping the turnaround market

Du : 28/05/2009

With GPs at a recent PEI Media conference in Hong Kong confessing they were currently spending around 70 percent of their time on portfolio management, now is an excellent time to address turnarounds. Some traditional private equity firms are themselves having to turn into turnaround specialists to nurse once-healthy portfolio companies through the economic downturn.

In this piece, PEI Asia will seek to understand the depth of the problems facing GPs, the restructuring options open to them, and the specialists in turnaround investments who are looking to make some of their best investments in the current economic climate.

In doing so, it will address the following areas:

• The extent of the problem: just how bad are portfolios? What sectors/geographies have been hardest hit? What decisions are GPs having to make? How much a part of the problem is the debt burden some companies are carrying?

• The approaches taken: What options are open to GPs as they seek to turn investments around?

• The regulatory environment: Are certain jurisdictions more constrictive than others when it comes to looking at turnaround options? How much does geography play a part in the steps that can be taken to bring a company back to good health?

• The opportunity set: One person’s downfall is another person’s opportunity. Who are the specialists and funds that are coming to the fore in this economic climate?

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