This review provides a discussion of recent techniques for simulation of ph
ase equilibria of complex fluids. Monte Carlo methods are emphasized over m
olecular dynamics methods. We describe recent developments, such as the use
of expanded-ensemble, tempering, or histogram reweighting techniques. Our
discussion of such developments is aimed at a general audience and is inten
ded to provide an overview of the main advantages and limitations of each p
articular technique. References are provided to allow interested readers to
identify and trace back most recent applications of a particular simulatio
n technique. We conclude with general guidelines regarding selection of sui
table simulation methods for particular problems and systems of interest.