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LOEWEN & PARTNERS
Loewen & Partners is a specialty private equity investment banking firm. We assist companies in raising private equity capital and offer corporate finance, financial restructuring and mergers and acquisitions advisory services. We specialize in innovative financing structures to maximize shareholder value in all transactions, including growth capital, recapitalizations, divestitures, buy-outs and structured exits.
The majority of directors agree that private equity board members improve company performance. A McKinsey & Company report issued in December 2008 surveyed 20 directors who have served on the board of both public and private companies and found there are many benefits to having a private equity fund invested in an enterprise and serving on its board. According to the report, the advantages stem from “stronger operational performance”.
Want to learn more about How Private Equity Creates Value? Upcoming Event:CEO Roundtable with McKinsey & Co. - May 14, 2009
MAKE CHAOS YOUR FRIEND
Bob Dylan once said, “Chaos is a friend of mine.” These days, Bob is probably his only friend, but the de facto Poet Laureate of the 1960s civil rights movement and more recently, ageing crooner, may have a point. The events of the second half of 2008 may best be described as chaotic. According to Nassim Taleb, author of The Black Swan, it is the improbable events that spring from chaotic times that influence our lives the most.
The North American market for private investment in public entity (PIPE) deals is stronger than ever, according to a recent report. The amount raised through PIPE transactions was up by 111 percent in 2008 compared to the prior year. Despite the public market turbulence, the PIPE market remained “one of the only issue markets open for business in 2008”.
According to the research group Private Equity Intelligence (Preqin), the total amount of capital raised in 2008 exceeded US$554 billion, making it the second largest amount on record, behind the US$625 billion raised in 2007. The private equity pool of capital looking for deals amounted to over US$1 trillion globally, with half the firepower in the United States alone. Tim Friedman, spokesman for Preqin, points out that “though conditions [for fundraising] are not as promising as in previous years, a well thought out strategy can still yield results even in these challenging times”.
He was hailed the “Smartest Man on Wall Street” by the Globe and Mail’s Report on Business. He predicted in 2007, when there were few signs of the credit crunch, that the public markets were going to be “slaughtered”. Now he is bullish on Canada. Krishnamurthy Narayanan received his PhD from MIT while studying under Paul Krugman (Nobel Prize Laureate ’08). He estimates that Canada’s role in the global economic recovery will be essential.
