108: In Case You Missed It: Private Markets Season 1 Highlights
Aug 10, 2023
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This podcast highlights the first season's episodes and guests, including discussions on alternative assets, branding & consumer behavior, geographical and sector considerations, high profile acquisitions like CD&R's £7bn takeover of Morrisons and Permira's £300m buyout of Dr. Martens. The upcoming season 2 of Private Markets is introduced. The chapters explore topics such as successful investments in private markets, growth of alternative assets supported by Peters Hill Partners, structural changes in private markets, opportunities for private equity investment in European capital markets, sponsors Bremont and Gain, emotional connection in building strong brands, and the private equity market in India and its growth potential.
Private markets offer untapped opportunities in the retail sector, leveraging retail and consumer experiences to identify key themes like discount and value-based retail convenience.
Partnerships between alternative asset firms and growth capital providers like Peters Hill Partners help in expanding and diversifying investment entities while addressing the lack of capital available for expansion.
Deep dives
Private Markets Mini-Series and Structural Forces in Investments
The podcast explores the implications and cyclical nature of private markets in the investment industry. It questions whether the growth and enthusiasm in private markets are driven by cheap money or a long-term structural force creating a permanent component in asset allocations. Excerpts from conversations with investment firms like Schroeder's Capital, Peter's Hill Partners, KKR, Bain Capital, Permira, and CDNR are highlighted, shedding light on various perspectives and insights.
CDNR's Takeover of Morrison's and Identifying Opportunities in the Retail Space
David Novak of CDNR discusses their £7 billion acquisition of Morrison's, highlighting the complexities and their view on the public nature of the process. CDNR recognized untapped opportunities in the retail sector, leveraging retail and consumer experiences within the firm to identify key themes like discount and value-based retail convenience. They saw Morrison's well-positioned with its strong legacy, focus on omnichannel offerings, vertical integration, and the value of its other assets like farms, supply chains, and petrol four courts.
Peters Hill Partners' Approach to Growth Capital in Alternative Assets
Robert Hamilton Kelly from Peters Hill Partners explains their focus on providing growth capital to alternative asset firms. They recognized the fast-growing nature of the alternative assets industry and the lack of capital available for expansion. Peters Hill formed partnerships with firms, investing in mid-market private firms with assets under management ranging from $10 to $15 billion. These partnerships allow them to bring institutionalized balance sheets and expertise to help the firms grow and develop into larger and more diverse investment entities.
Drivers of Growth in Private Equity and the Role of Uncertainty
Philip Prize, co-head of European private equity at KKR, discusses the growth of private equity and the underlying factors driving its success. He highlights the trend of companies staying private for longer and the allure of growth capital in the private markets. Despite uncertainties and challenges like rising interest rates, private equity continues to thrive due to its ability to adapt, flexibilize companies, and drive growth. Predicting market trends is challenging, but analyzing and adapting to uncertainties is crucial for successful investment outcomes.
In today’s episode, the Money Maze Podcast takes a short trip back to summer 2022 in light of the upcoming release of our second Private Markets Miniseries!
Last year, we released our first season, delving deep into the far reaching ramifications of the industry, and sharing fascinating conversations with guests from the likes of Schroders Capital, Petershill Partners, KKR, Bain Capital, Permira, and CD&R.
We have compiled together some of the highlights from those episodes, discussing alternative assets, branding & consumers, as well as geographical and sector considerations. Also discussed are some key examples of high profile acquisitions, including CD&R's £7bn takeover of Morrisons, and Permira's £300m buyout of Dr. Martens.
Season 2 of Private Markets starts next week, and the 6-part series will run until October. You can listen to both seasons via www.moneymazepodcast.com/series/private-markets. Season 1 was originally recorded in Summer 2022.
The Money Maze Podcast is kindly sponsored by Schroders, Bremont Watches, and LiveTrade. We’re also pleased to be highlighting & supporting GAIN as our 2023 Charitable Partner.
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