A THOROUGH UNDERSTANDING OF PRIVATE EQUITY

4.

PERSPECTIVES FOR THE INDUSTRY ....................................................................................................... 71 4.1 Private equity, a global industry........................................................................................................... 71 4.2 A time of opportunities and challenges........................................................................................... 73 4.3 The evolution of the GP/LP relationship ........................................................................................ 75 4.3.1 Increasingly selective LPs.......................................................................................................... 75 4.3.2 Financial negotiations.................................................................................................................. 75 4.3.3 More information required by investors............................................................................. 76 4.4 New regulatory issues............................................................................................................................. 77 4.4.1 In the United States...................................................................................................................... 77 4.4.2 In Europe: the AIFM draft directive........................................................................................ 77

CONCLUSION: NEED FOR EXPERTS.......................................................................................................... 83

APPENDICE: REGULATION REFERENCES......................................................................................................... 85

BIBLIOGRAPHY.................................................................................................................................................... 89

GLOSSARY OF PRIVATE EQUITY TERMS AND ACRONYMS.......................................................... 91

page 6 | A thorough understanding of PE