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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE Emerging Markets Private Equity Association Quarterly Review Q4 200624/01/2007. Source: EMPEA.
Emerging markets benchmark returns have been solidly ahead of US and Europe on both a mean and top quartile basis for the last 3 years says the EMPEA. Additional data on fund-raising and exits further confirmed that the asset class had a strong showing across emerging markets regions in 2006. 2006 has been an exceptional year for emerging markets private equity by just about every metric, and the optimism was clearly evident amongst the 350 participants at EMPEA’s 2nd Emerging Markets Forum earlier this month, co-hosted with Private Equity International.
Performance data provided by Cambridge Associates and presented by EMPEA at the Forum illustrated that emerging markets benchmark returns have been solidly ahead of US and Europe on both a mean and top quartile basis for the last 3 years. Additional data on fundraising and exits further confirmed that the asset class had a strong showing across emerging markets regions in 2006.
David Rubenstein, of the Carlyle Group and a keynote speaker at the Forum, reinforced this positive view with his observation that LPs cannot afford to ignore emerging markets private equity: “Given the growth dynamics of the global economy, private equity in emerging markets will generate higher returns than developed markets,” he stressed.
This issue of the Quarterly Review includes an assessment of what might be called the re-emerging Latin American private equity market. Although the region is far from homogeneous, the underlying economic fundamentals have improved significantly in many countries, creating attractive private equity opportunities. It is notable, however, that most LPs are still hesitant about investing in the region.
The issue also features an examination of coinvestment, a hot topic in mainstream private equity that has begun to gain momentum in emerging markets. We look at the potential advantages as well as the risks for LP co-investing in private equity deals, and identify some of the LPs who are extending their coinvestment reach to new regions.
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EMPEA is a broad-based membership organization founded in 2004 to focus on the emerging private equity markets of Africa, Asia, Europe, Latin America, the Middle East, and Russia. EMPEA is comprised primarily of private equity fund managers, but also includes institutional investors, service providers and others with an interest in the asset class.
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