05
Mar
Global strategies: Roll with it
Global private markets activity experienced a gradual recovery in 2024, with many managers struggling to build conviction in opportunities in the shadow of geopolitical uncertainty, higher financing costs, and post-pandemic problem portfolios. Fundraising conditions are also challenging. Adaptability is key. GPs must be more innovative in how they deliver operational improvement, more targeted in their pursuit of exits, and more open-minded to new sources of capital and structures. A select group of investors share their views.
- How are macro, political, and regulatory issues impacting dealmaking?
- To what extent has the bid-ask spread closed?
- How are global investors evolving their approaches to value creation?
- What does the future hold in terms of specialisation and consolidation
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SpeakersNicola Yeomans Partner - Co-Head Private Capital KING & WOOD MALLESONS
John Y.S. Lee Partner LEXINGTON PARTNERS
Michael Blickstead Head of Australia / New Zealand Private Equity BLACKSTONE
Jeffrey Stevenson Managing Partner VSS CAPITAL PARTNERS
Chris Crampton Head of Strategic Equity BLUE OWL CAPITAL
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Nicola Yeomans co-leads the firm’s global Private Capital practice and is based in Singapore. She specialises in private equity and asset management across Asia, supporting clients with acquisitions, disposals, joint ventures, fundraisings and real asset projects.
Nicola is ranked by Chambers Global, Chambers Asia Pacific and Who’s Who Legal as a leading M&A lawyer. She was recognised by Asian Legal Business as the only international law firm finalist for Southeast Asia Woman Lawyer of the Year and was a finalist for Euromoney’s Female Asia Pacific M&A Lawyer of the Year.
John Lee is a Partner responsible for the Asia business of Lexington Partners. Based in Hong Kong, he is primarily engaged in the origination and evaluation of secondary purchases of private equity investments in Asia.
Prior to joining Lexington in 2014, Mr. Lee was a member of the Mergers and Acquisitions team at Morgan Stanley.
Mr. Lee graduated from Princeton University with an A.B. in Economics.
Michael Blickstead is a Senior Managing Director in the Private Equity Group based in Sydney and Head of Australia / New Zealand Private Equity.
Before joining Blackstone, Mr. Blickstead was a Division Director / Managing Director and Head of Principal Finance Asia Pacific for Macquarie Group where he invested across the capital structure. Prior to that, he was an Investment Director at Archer Capital, one of Australia’s leading domestic private equity firms. Mr. Blickstead started his career in the Private Equity Group at Goldman Sachs in New York and London.
Mr. Blickstead received a Bachelor of Arts, cum laude in Economics, from Harvard University as well as an MBA from Harvard Business School.
Jeffrey Stevenson is the Managing Partner of VSS and has overall responsibility for the management of the firm and each of its funds. He joined VSS in 1982, shortly after its formation, and founded its private equity business in 1987. VSS has managed 8 funds with $4 billion of committed capital under management, including 4 equity funds and 4 structured capital funds. To date, VSS funds have invested in 99 platform companies, which have together completed over 600 acquisitions, representing over $13 billion in aggregate enterprise value. VSS funds focus on the healthcare, business services, and education industries. VSS makes control and non-control investments of $20 to $50 million in companies with EBITDA of $3 - $15 million and provides flexible debt and equity solutions.
Jeffrey is the Chairman of the investment committee and has served on the boards of over 31 portfolio companies and currently serves as a member of the board of the following VSS portfolio companies: Ambulatory Anesthesia Care, Ascent Behavioral Health, Center for Rheumatology, Eximia, ITN Networks, Specialty1 Partners, and Pacesetter Health.
Previously, he served as a director of Advanstar, Brandshop, Cambium Learning, Canon Communications, Coretelligent, Cast & Crew, De Telefoongids, Mediatel, MetSchools, Ebiquity, Hanley Wood, ITE Group, Pepcom, Southern Theatres LLC, Tax Credit Co., TMP Worldwide, and Yellow Book USA, among others.
Jeffrey serves as a member of the finance committee for the not-for profit organization, Fraxa Research Foundation. Jeffrey also was previously involved with the following organizations: YPO/WPO, SBIA Board of Governors and Lincoln Center Leadership Committee.
Jeffrey holds a BA from Rutgers College.
Chris Crampton is a Senior Managing Director at Blue Owl and the Head of Strategic Equity. Previously, Chris was a Partner at Goldman, Sachs & Co. (“Goldman”) where he was the head of Services private equity investing and prior to that led Industrials private equity investing in the Merchant Banking and Asset Management Divisions. While at Goldman, he was a member of the Global Corporate Equity Investment Committee and Growth Sub-Investment Committee and represented Goldman on various corporate boards. Prior to Goldman, Chris worked in the investment banking group at Deutsche Bank Securities.
Chris serves on the board of the ‘Sconset Trust, a non-profit committed to land conservation, historical preservation, and related educational and recreational initiatives in Siasconset, Massachusetts. Chris received an AB degree in History from Princeton University.