Download Value-creation in Middle Market Private Equity PDF

Value-creation in Middle Market Private Equity

Author :
Publisher : Routledge
Release Date :
ISBN 10 : 0367879794
Pages : 326 pages
Rating : 4.7/5 (678 downloads)

Download Value-creation in Middle Market Private Equity PDF Full Free by John A. Lanier and published by Routledge. This book was released on 2019-12-20 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value-creation in Middle Market Private Equity by John A. Lanier holistically examines the ecosystem relationships between middle market private equity firms and their portfolio companies. Small business is the job creating engine in the US economy, and consequently is a prime target market for private equity investment. Indeed, private equity backs over six of each 100 private sector jobs. Both the small businesses in which private equity firms invest, and the private equity firms making the investments, face inter- and intra-company fiduciary leadership challenges while implementing formulated strategy. The architecture of each private equity firm-portfolio company relationship must be uniquely crafted to capitalize on the projected return on investment that is memorialized in the investment thesis. Given the leveraged capital structure of portfolio companies, the cost of a misstep is problematic. Individual private equity professionals are typically members of multiple investment teams for the firm. Not only may each investment team have its own unique leadership style, but its diverse members have to assimilate styles for each team in which they participate relative to a specific portfolio company. Acquisitions and their subsequent integrations add exponential complexity for both private equity investment and portfolio company leadership teams; indeed, cultural integration ranks among the most chronic acquisition obstacles. Accordingly, the stakeholders of private equity transactions do well to embrace leadership best practices in applying value-creation toolbox best practices. The perspectives of both the private equity investment team and the portfolio company leadership team are within the scope of these chapters.


Download Value-creation in Middle Market Private Equity PDF

Value-creation in Middle Market Private Equity

Author :
Publisher : CRC Press
Release Date :
ISBN 10 : 9781317002741
Pages : 326 pages
Rating : 4.2/5 (27 downloads)

Download Value-creation in Middle Market Private Equity PDF Full Free by John A. Lanier and published by CRC Press. This book was released on 2016-02-17 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value-creation in Middle Market Private Equity by John A. Lanier holistically examines the ecosystem relationships between middle market private equity firms and their portfolio companies. Small business is the job creating engine in the US economy, and consequently is a prime target market for private equity investment. Indeed, private equity backs over six of each 100 private sector jobs. Both the small businesses in which private equity firms invest, and the private equity firms making the investments, face inter- and intra-company fiduciary leadership challenges while implementing formulated strategy. The architecture of each private equity firm-portfolio company relationship must be uniquely crafted to capitalize on the projected return on investment that is memorialized in the investment thesis. Given the leveraged capital structure of portfolio companies, the cost of a misstep is problematic. Individual private equity professionals are typically members of multiple investment teams for the firm. Not only may each investment team have its own unique leadership style, but its diverse members have to assimilate styles for each team in which they participate relative to a specific portfolio company. Acquisitions and their subsequent integrations add exponential complexity for both private equity investment and portfolio company leadership teams; indeed, cultural integration ranks among the most chronic acquisition obstacles. Accordingly, the stakeholders of private equity transactions do well to embrace leadership best practices in applying value-creation toolbox best practices. The perspectives of both the private equity investment team and the portfolio company leadership team are within the scope of these chapters.


Download Private Equity in Germany PDF

Private Equity in Germany

Author :
Publisher : ibidem-Verlag / ibidem Press
Release Date :
ISBN 10 : 9783838256207
Pages : 112 pages
Rating : 4.6/5 (562 downloads)

Download Private Equity in Germany PDF Full Free by Thorsten Gröne and published by ibidem-Verlag / ibidem Press. This book was released on 2012-02-13 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study evaluates the value generation potential of private equity for German mid-cap companies. A discussion of the private equity industry and the analysis of the value generation levers serve as a basis to further explore private equity value generation in the German market. First, the special features of German mid-cap companies are examined with a special focus on their financing needs. Second, the German private equity market is introduced and its differentiating features are revealed. The comparison of the findings assesses the general suitability of private equity as a financing option for German mid-cap companies and suggests that many mid-cap companies are not (yet) suited for private equity investments. Finally, the applicability of the identified value generation levers on the German mid-cap segment is analyzed with the help of a conceptual framework in order to evaluate the value generation potential. The results show that the traditional value generation levers are applicable but have to be adjusted with respect to national differences. Private equity associations have to specifically address the strong social considerations in the German business culture and the traditional unity of management, ownership, and supervision in the mid-cap segment in order to realize high rates of return. Anecdotal and recent empirical evidence indicates the relevance of many theoretical conclusions.


Download Private Equity Investing in Emerging Markets PDF

Private Equity Investing in Emerging Markets

Author :
Publisher : Springer
Release Date :
ISBN 10 : 9781137435354
Pages : 286 pages
Rating : 4.5/5 (353 downloads)

Download Private Equity Investing in Emerging Markets PDF Full Free by R. Leeds and published by Springer. This book was released on 2015-03-10 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on the author's four decades of experience as a practitioner and academician working with private equity investors, entrepreneurs, and policymakers in over 100 developing countries around the world, this book uses anecdotes and case studies to illustrate and reinforce the key arguments for private equity investment in emerging economies.


Download Value Creation of Private Equity PDF

Value Creation of Private Equity

Author :
Publisher : GRIN Verlag
Release Date :
ISBN 10 : 9783668608399
Pages : 76 pages
Rating : 4.8/5 (83 downloads)

Download Value Creation of Private Equity PDF Full Free by Kevin Elsäßer and published by GRIN Verlag. This book was released on 2018-01-11 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2016 in the subject Business economics - Investment and Finance, grade: 1,0, European Business School - International University Schloß Reichartshausen Oestrich-Winkel, language: English, abstract: Private equity companies are seen as high risk investment funds, trying to gain high returns on their investments in a period of around three to seven years. Even if the private equity industry has played an important role in growth or as an external financing source of established companies as well as newly-established companies, private equity investors are not seen as sustainable value creators. In various occasions, private equity funds are even declared as a greedy instrument to earn fast money. In order to analyse whether private equity companies create value in a sustainable way, this study compares the performance of private equity backed initial public offerings (IPOs) with non-private equity backed IPOs. Moreover, it analyses whether private equity backed IPOs outperform the market. This study evaluates the performance of private equity backed IPOs by performing two separate empirical analyses: one focusing on the UK private equity market - the largest private equity market in Europe - and one focusing on the entire European market. The research conducts a quantitative analysis of secondary data, more specifically by using stock prices of private equity backed firms, non-private equity backed firms and applicable benchmark market indices. Such data was obtained from multiple sources, such as the London Stock Exchange, Bloomberg and Yahoo Finance. In general, the study compares the performance of private equity backed IPOs with non-sponsor IPOs with regard to their price development and abnormal returns. The analysis is based on multiple independent analyses of each IPO. In order to provide a general understanding of this issue and to be able to interpret the research results, the paper discusses the theoretical framework and the findings of other authors. In recent decades, several authors have demonstrated their research on private equity based IPOs as well as the value creation of private equity firms. Based upon these, hypotheses are formulated, which are then subsequently tested using multiple research methods. In general, the study indicates that the majority of private equity firms do not create sustainable value. More than 50% of the analyzed private equity backed companies were not able to outperform the market benchmark indices. On average, private equity backed firms were able to significantly outperform the market in the UK. However, they were unable to perform equally well on a European level.


Download Private Equity in Germany PDF

Private Equity in Germany

Author :
Publisher : Ibidem Press
Release Date :
ISBN 10 : 3898216209
Pages : 151 pages
Rating : 4.8/5 (982 downloads)

Download Private Equity in Germany PDF Full Free by Torsten Gröne and published by Ibidem Press. This book was released on 2005 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study evaluates the value generation potential of private equity for German mid-cap companies. A discussion of the private equity industry and the analysis of the value generation levers serve as a basis to further explore private equity value generation in the German market. First, the special features of German mid-cap companies are examined with a special focus on their financing needs. Second, the German private equity market is introduced and its differentiating features are revealed. The comparison of the findings assesses the general suitability of private equity as a financing option for German mid-cap companies and suggests that many mid-cap companies are not (yet) suited for private equity investments. Finally, the applicability of the identified value generation levers on the German mid-cap segment is analyzed with the help of a conceptual framework in order to evaluate the value generation potential. The results show that the traditional value generation levers are applicable but have to be adjusted with respect to national differences. Private equity associations have to specifically address the strong social considerations in the German business culture and the traditional unity of management, ownership, and supervision in the mid-cap segment in order to realize high rates of return. Anecdotal and recent empirical evidence indicates the relevance of many theoretical conclusions.


Download The Private Equity Digital Operating Partner PDF

The Private Equity Digital Operating Partner

Author :
Publisher : Eveallanpub
Release Date :
ISBN 10 : 0578799537
Pages : 130 pages
Rating : 4.8/5 (787 downloads)

Download The Private Equity Digital Operating Partner PDF Full Free by Bruce Sinclair and published by Eveallanpub. This book was released on 2020-11-22 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: Increase the value of your companies by seizing the true power of digital transformation The Tesla Model S. The Uber aggregator business model. The Amazon bookstore. What do they all have in common? They're all smart. Smart products, smart business models and smart services created by data-driven tech companies that have dominated their industries and produced outsized returns for their investors. Now the high technology of digital transformation has matured to enable any traditional company to increase its competitiveness and growth profile by developing tech-facilitated business models and other intangible assets. A digitally transformed company uses data to increase its sales through innovation and invention, to increase its margins through operational efficiency and to increase its valuation multiple through the digital rerate. Founder and principle consultant of today's leading digital operating partners firm, Bruce Sinclair has been helping companies digitally transform for almost a decade, first as an independent consultant and then as an operating partner for a middle-market private equity firm. Whereas his first book, IoT Inc, is the gold standard business book for leadership in enterprises, this book applies those lessons for value creation in private equity. Digital transformation is leading to structural changes in all industries, and associated with any such changes are investment opportunities. Not just by betting on smart companies, but by buying companies and making them smart. This is your playbook to seizing the true power of digital transformation for your portfolio companies.


Download Value Creation in Leveraged Buyouts PDF

Value Creation in Leveraged Buyouts

Author :
Publisher : Springer Science & Business Media
Release Date :
ISBN 10 : 9783835093294
Pages : 457 pages
Rating : 4.3/5 (932 downloads)

Download Value Creation in Leveraged Buyouts PDF Full Free by Nicolaus Loos and published by Springer Science & Business Media. This book was released on 2007-11-05 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on a dataset of over 3,000 leveraged buyout transactions, including performance data, Nicolaus Loos analyses how financial investors create economic value through their investments. He shows that various exogenous factors with respect to timing, industry, public market as well as deal specific factors can statistically be related to a buyout deal's performance. He also provides evidence of a "GP effect" in leveraged buyouts, i.e. that certain characteristics of a Private Equity firm and its investment professionals as well as a firm's buyout strategy approach and certain buyout target characteristics are important success factors.


Download Private Equity Investing in Emerging Markets PDF

Private Equity Investing in Emerging Markets

Author :
Publisher : Springer
Release Date :
ISBN 10 : 9781137435354
Pages : 286 pages
Rating : 4.5/5 (353 downloads)

Download Private Equity Investing in Emerging Markets PDF Full Free by R. Leeds and published by Springer. This book was released on 2015-03-10 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on the author's four decades of experience as a practitioner and academician working with private equity investors, entrepreneurs, and policymakers in over 100 developing countries around the world, this book uses anecdotes and case studies to illustrate and reinforce the key arguments for private equity investment in emerging economies.


Download Listed Private Equity: Investment Strategies and Returns PDF

Listed Private Equity: Investment Strategies and Returns

Author :
Publisher : Diplomica Verlag
Release Date :
ISBN 10 : 9783842889484
Pages : 92 pages
Rating : 4.9/5 (894 downloads)

Download Listed Private Equity: Investment Strategies and Returns PDF Full Free by Sarah Kumpf and published by Diplomica Verlag. This book was released on 2013 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: The increasing popularity of private equity (‘PE’), and especially leveraged buyouts in the late 1980s, established a novel area of research in these investments. First, research concentrated on the taking private of large corporations in the US. In his most significant paper, Jensen (1989) claimed that PE firms which function as activist investors incentivize the management of their portfolio companies to maximize value, and concluded that in the long run, private companies, owned by PE firms, would outperform firms under public ownership. Others argued that PE firms simply buy companies at a discount by exploiting private information about the takeover targets, or reduce tax spending by highly leveraging the portfolio companies. Today, many PE firms are publicly listed, and the greater transparency and availability of information about these listed PE firms, offers a unique basis to conduct research. Current research in the field of PE, and buyout investments leads to the question, in how far PE firms generate value by means of an investment into a portfolio company. Usually, drivers of value generation are classified into governance, financial and operational capabilities of PE firms. In addition to these direct drivers of value, investment and portfolio management strategies differ with respect to the ways of acquiring and divesting a portfolio company, and these different entry, and exit channels can in turn, offer distinct potential for value generation. Therefore, this paper first presents the investment and portfolio management strategies of PE firms. The strategies include different types of acquisitions, and exits, as well as the associated drivers of value creation. The second objective is to establish a link between different investment strategies, and the expected returns generated on the investor level. Listed PE allows analyzing the market’s reaction to the announcement of investments, and divestments within an event study, and hypotheses were derived for both of these types of events. Thereupon, subsamples of announcements are constructed, dependent on the way of entry and exit announced as well as on strategic decisions implemented in the portfolio company that is to be disposed.


Download International Private Equity PDF

International Private Equity

Author :
Publisher : John Wiley & Sons
Release Date :
ISBN 10 : 1119973880
Pages : 764 pages
Rating : 4.9/5 (199 downloads)

Download International Private Equity PDF Full Free by Eli Talmor and published by John Wiley & Sons. This book was released on 2011-06-24 with total page 764 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bringing a unique joint practitioner and academic perspective to the topic, this is the only available text on private equity truly international in focus. Examples are drawn from Europe the Middle East, Africa and America with major case studies from a wide range of business sectors, from the prestigious collection of the London Business School’s Coller Institute of Private Equity. Much more than a simple case book, however, International Private Equity provides a valuable overview of the private equity industry and uses the studies to exemplify all stages of the deal process, and to illustrate such key topics as investing in emerging markets; each chapter guides the reader with an authoritative narrative on the topic treated. Covering all the main aspects of the private equity model, the book includes treatment of fund raising, fund structuring, fund performance measurement, private equity valuation, due diligence, modeling of leveraged buyout transactions, and harvesting of private equity investments.


Download Private Equity Value Creation Analysis: Volume I: Theory PDF

Private Equity Value Creation Analysis: Volume I: Theory

Author :
Publisher : AUXILIA Press
Release Date :
ISBN 10 : 1736077821
Pages : 244 pages
Rating : 4.6/5 (36 downloads)

Download Private Equity Value Creation Analysis: Volume I: Theory PDF Full Free by Michael David Reinard and published by AUXILIA Press. This book was released on 2021-03-05 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private Equity Value Creation Analysis is a comprehensive handbook for the analysis of private companies and portfolios. Its framework quantifies how leverage, valuation, company P&Ls, market and industry trends, and other factors drive equity returns. Such analyses are used by private equity and venture capital fund managers to explain their approaches to buying and selling companies and by institutional investors to validate them.Specifically designed for the particularities of private equity ownership, the book's value creation models are mathematically rigorous and based on metrics that are practical and accessible (i.e., those generally found in fund manager reporting and marketing materials). Formulas are built to function over the widest range of company, industry, and market conditions and provide intuitive and non-volatile results.Volume I: Theory describes more than two dozen value creation components, with over 200 formulas and 60 step-by-step examples intended to help analysts build and error-check their own value creation models. Demonstrations are supported by more than 80 data tables and 35 figures and graphs. This volume describes:- Value creation driven by changes in EBITDA, revenue, and margins- Market and company-specific multiple expansion- Five ways to measure the impact of leverage- Shareholder-specific value creation components- Value creation alternatives to Public Market Equivalence- Adjustments for add-on acquisitions, dividend recapitalizations, and other holding period events- Models for measuring private company and portfolio Net Returns, including Net IRRs, without time series data or complicated cash flow modelsPrivate Equity Value Creation Analysis is essential reading for fund managers seeking to tell more credible, data-driven stories about their private company investments and institutional investors seeking to validate whether those narratives are supported by the numbers.


Download Value Creation PDF

Value Creation

Author :
Publisher : John Wiley & Sons
Release Date :
ISBN 10 : 9783527612253
Pages : 501 pages
Rating : 4.2/5 (122 downloads)

Download Value Creation PDF Full Free by Florian Budde and published by John Wiley & Sons. This book was released on 2008-01-08 with total page 501 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by a global team of top managers and senior McKinsey experts, this expanded and completely revised second edition provides a wide-ranging manual on the subject of value creation in the chemical industry. Drawing on extensive first-hand management experience, several hundred consulting engagements, and in-depth research projects, the authors outline the key ingredients for managing chemical companies successfully. The book addresses in detail key issues of strategy and industry structure, describes best practice in the core functions of the chemical business system, looks at the state of the art in organization and post-merger management, and covers a selection of the most important current topics such as industrial biotechnology, the role of private equity, and the chemical landscape in China. Although mainly directed at executives and managers in the chemical industry, the knowledge contained in this comprehensive overview will also benefit scientists, engineers, investors, students, and anyone else dealing with management issues in this sector.


Download Restructuring the Hold PDF

Restructuring the Hold

Author :
Publisher : John Wiley & Sons
Release Date :
ISBN 10 : 9781119635185
Pages : 368 pages
Rating : 4.5/5 (351 downloads)

Download Restructuring the Hold PDF Full Free by Thomas C. Anderson and published by John Wiley & Sons. This book was released on 2020-12-10 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Establishing an effective partnership and achieving improved outcomes for investors and management teams during the hold cycle Private equity represents a productive and fast-growing asset class—building businesses, creating jobs, and providing unlimited opportunity for investors and management teams alike, particularly if they know how to work together in candid and effective partnerships. Restructuring the Hold demonstrates how investors and managers can best work together to optimize company performance and the associated rewards and opportunities for everyone, not just the investors. Through brief references to the parable of the Gramm Company, a middle market portfolio company, readers will follow the disappointments and triumphs of a management team experiencing their first hold period under private equity ownership, from the day they get purchased through the day they get sold. Restructuring the Hold provides the reader both general knowledge and more detailed better practices and frameworks relating to specific time periods during the hold. Within this book readers will find: An examination of a typical middle-market private equity hold period Guidance for newly acquired management teams on what to expect during the hold period Descriptions of better practice operating cadence between investors and management teams Examples of effective partnerships between investors and management teams Discussions of topics relevant to typical hold periods, including organizational structures, operations improvement, selling pipelines and acquisition integrations With guidance from Restructuring the Hold, private equity principals and portfolio company executives can take steps toward greater collaboration and better outcomes. Through updated practices and strong relationships, they can partner effectively to improve portfolio company performance, which will lead to better outcomes for both investors and management teams.


Download Winning Moves PDF

Winning Moves

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Publisher :
Release Date :
ISBN 10 : 9798985851502
Pages : pages
Rating : 4./5 ( downloads)

Download Winning Moves PDF Full Free by Dan Cremons and published by . This book was released on 2022-06-15 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: As the private equity market has become more competitive and efficient, the value buys, arbitrage opportunities, and financial engineering strategies that investors once relied on to juice returns simply aren't as juicy and reliable as they once were. Yesterday's playbook for success must evolve to stay competitive in today's Value Creation Era of private equity. Drawing on his own experience and 1,000+ combined years of wisdom from successful mid-market private equity professionals and executives, Dan Cremons sets out to answer an important question: In this era of private equity, how can investors and executives more consistently, predictably, and methodically drive value creation in their companies?If you're an investor or executive wrestling with that question, this book is for you. Winning Moves-* Deconstructs value creation into its more approachable component parts* Equips readers with a vast arsenal of proven winning moves for driving value creation* Provides a roadmap for making value creation happen throughout a deal's lifecycle Bursting with actionable advice straight from the mid-market trenches, Winning Moves can help private equity professionals and executives generate better returns faster and take their careers to new heights.


Download Introduction to Private Equity PDF

Introduction to Private Equity

Author :
Publisher : John Wiley & Sons
Release Date :
ISBN 10 : 9780470711880
Pages : 244 pages
Rating : 4.1/5 (118 downloads)

Download Introduction to Private Equity PDF Full Free by Cyril Demaria and published by John Wiley & Sons. This book was released on 2010-03-30 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction to Private Equity is a critical yet grounded guide to the private equity industry. Far more than just another introductory guide, the book blends academic rigour with practical experience to provide a critical perspective of the industry from a professional who has worked at many levels within the industry, including insurance, funds of funds, funds and portfolio companies. The book looks at private equity from the point of view of the individual or the business. How is a private business valued? How is the acquisition transaction processed? What are the due diligence issues that should be considered before moving ahead? A valuable insight to a rather opaque market. Introduction to Private Equity covers the private equity industry as a whole, highlighting its historical development in order to put its recent development into perspective. The book covers its organization, governance and function, then details the various segments within the industry, including LBO, Venture Capital, Mezzanine Financing, Growth Capital and beyond. Finally, it offers a framework to anticipate and understand its future developments. It provides a balanced perspective on the current corporate governance challenges which are affecting the industry and draws perspective to understand the evolution of the sector, following one of its major crises.


Download Private Capital Markets, + Website PDF

Private Capital Markets, + Website

Author :
Publisher : John Wiley & Sons
Release Date :
ISBN 10 : 9780470928325
Pages : 609 pages
Rating : 4.8/5 (283 downloads)

Download Private Capital Markets, + Website PDF Full Free by Robert T. Slee and published by John Wiley & Sons. This book was released on 2011-05-31 with total page 609 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for Private Capital Markets Valuation, Capitalization, and Transfer of Private Business Interests SECOND EDITION "In the years since publication of the first edition of Private Capital Markets, the concepts and ideas that it presents have been widely accepted by progressive members of the business valuation community. Now with the Second Edition, author Rob Slee has included empirical data on capital markets for midsized businesses. This book remains a must for everyone involved in appraising, buying, selling, or financing privately owned businesses." —Raymond C. Miles, founder, The Institute of Business Appraisers "The Graziadio School of Business has used the Private Capital Markets book for several years with great success. This course, along with the Pepperdine Private Capital Markets Survey project, has helped our students better prepare for careers in middle market companies." —Linda Livingstone, Dean of the Graziadio School of Business and Management, Pepperdine University "Our international association of independent M&A professionals recommends this text as the most comprehensive foundation for understanding the private capital marketplace. This book is essential reading for middle market M&A advisors, investors, and other decision-makers in the private capital markets." —Mike Nall, founder, Alliance of M&A Advisors A practical road map for making sound investment and financing decisions based on real experiences and market needs Now fully revised and in a second edition, Private Capital Markets provides lawyers, accountants, bankers, estate planners, intermediaries, and other professionals with a workable framework for making sound investment and financing decisions based on their own needs and experiences. This landmark resource covers: Private business valuation Middle market capital sources The business ownership transfer spectrum And much more Private Capital Markets, Second Edition surveys the private capital markets and presents the proven guidance you need to navigate through these uncharted waters.