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Published in:
2012 | OriginalPaper | Chapter
Hisham El-Khazindar, Co-Founder and Managing Director, Citadel Capital Ltd
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It is striking that while GPs and LPs alike have spoken of the ‘two-plus-20’ model coming under pressure at the margins, the fundamental structure of private equity — a closed-end, ten-year fund, extendable by up to four years, with investment decisions made by a professional general partner and capital provided by limited partners — remains largely unchallenged. I wanted to finish the main body of this book by interviewing the co-founder of one of the few firms that has successfully operated within a profoundly different format, to establish whether it could provide a useful model for other firms.