After growing her fund administration firm PEF Services LLC to more than 130 funds and 40-plus employees since co-founding it in 2002, CEO Anne Anquillare has also become an active proponent of a more manageable regulatory framework for middle-market private equity firms.
The director of the Teacher Retirement System of Texas’s emerging manager program answers five questions, including what TRS looks for in emerging managers, if the funds it has committed to share any traits, and what the future holds.
1. What do you expect to change in 2015? In early 2015 we’ve already seen pricing and leverage begin to move in favor of lenders, particularly (when it comes to) borrowers in the $20 million to $50 million EBITDA range. That’s still low within historic norms, but there just doesn’t seem to be much of […]