AVCJ Australia Forum debates Oz supers’ expectations

At a private dinner for leading LPs and GPs last night, at least half of those present agreed that Asia's continued growth would have a positive effect, not just on the Australian economy, but on the private equity industry's opportunity for development as well.

Philip Bilden, MD at HarbourVest, touted Australia's strong points in the opening panel, followed by a comment about how "taxation must be addressed. Generally tax is not an issue in developed markets," he said, inferring that this was something to be expected in emerging economies, but not Australia. "This needs clarification for foreign investors."

And in a rather lively panel moderated by the always-entertaining Les Fallick of Principle Advisory Services, Robert Talevski of Telstra Super defended the focus on PE fund fees, saying that trustees are looking at ways in every asset class as well as internally to cut costs. Firms must "show numbers up front" in order to justify the 2-and-20 model, he said.

 

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• Topics
• Australasia
• HarbourVest Partners
• Philip M. Bilden