Not all DPI is created equal: how are LPs tackling a lack of distributions?

Not all DPI is created equal: how are LPs tackling a lack of distributions?

06 Nov 2024|SuperReturn
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Michael LindauerMichael LindauerManaging Director, Global Head of Private Equity at Allianz Capital Partners GmbH

Michael heads Allianz Capital Partners’ (ACP) global private equity investment activities with AuM in excess of EUR 29bn.

He joined Allianz in 2003 from PricewaterhouseCoopers Corporate Finance where he advised on venture capital and buyout transactions in Germany.

Prior to that he was Head of Controlling for Yahoo! Germany. Michael started his career as auditor at PricewaterhouseCoopers.

Michael Lindauer represents Allianz on several fund advisory boards and is a former Director of Invest Europe.

He holds a master degree in business administration from LMU in Munich. Michael is a Fellow of the 2018 class of the Finance Leaders Fellowship and a member of the Aspen Global Leadership Network.

Joe TopleyJoe TopleyCEO at GBL Capital

Joe Topley joined GBL in 2023 to lead GBL Capital, the group’s €3bn indirect private equity business. Joe has over 20 years’ experience in private equity investing. Prior to GBL Capital, Joe was at Ontario Teachers’ Pension Plan where he was responsible for European Private Equity fund investments, having previously worked for the StepStone Group, a global asset manager. Joe started his career in management consulting and investment banking. Joe has an MBA from INSEAD, a degree in Molecular Biology from Imperial College, London and a post-graduate Diploma in Economics from University College, London. Joe recently served on the board of ILPA from 2019 to 2023.

Antony AnastasiadisAntony AnastasiadisManaging Director, Secondary Investments at Hamilton Lane

Antony is a Managing Director on the Secondary Investment team based in the London office, where he leads the firm’s sourcing and institutional limited partner origination efforts. He is responsible for conducting due diligence and leading the execution of secondary investments. Prior to joining Hamilton Lane in 2017, Antony worked at a leading intermediary in the secondary market where he focused on sourcing, coordinating and execution of transactions on behalf of institutional investors. Earlier in his career, he was an Associate with Setter Capital where he focused on all aspects of secondary market transactions including sourcing, coordinating and execution of transactions on behalf of institutional investors. Antony received a Bachelor of Honours degree in Finance from the Asper School of Business at the University of Manitoba.

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Description

Is DPI the new TVPI? How has 2024 fared for distributions and what can we expect from 2025? How are LPs considering their priorities and portfolio construction for 2025 and beyond?

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