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SWFs Seek Larger Role In PE Deals « Back
Claire Spencer, December 2009

m>(15 December 2009)

Sovereign wealth funds (SWFs) are seeking a larger role in private equity deals, and wish to develop deeper business relationships with private equity firms, according to a Reuters report, which cites a number of industry sources. For their part, private equity firms are concerned that their traditional investor base will renege on commitments once current capital is exhausted.

SWFs were more a background feature of the M&A boom, but now that the balance of power has shifted from the private equity industry, they are ready to invest again. Indeed, recent estimates from the Sovereign Wealth Fund Institute reveal that SWFs have more than $3.8 trillion in assets under management.

The report notes that the joint venture between Singapore’s GIC and Swedish private equity firm EQT – to invest into German publisher Springer Science – is an indicator that SWFs are ready to help private equity funds pursue deals as the dealmaking environment becomes more favourable.

However, the news agency adds that other link-ups, such China CIC taking a stake in Apax Partners as well as investing in its fund, show that SWFs want special terms and first right to participate alongside those buyout houses in deals in order to enhance returns.

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