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A Practical Guide To Private Equity Transactions

Author: Geoff Yates
Publisher: Cambridge University Press
ISBN: 1139484192
Size: 33.40 MB
Format: PDF, Kindle
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This overview of a complex and often misunderstood subject takes the reader through the issues that are faced throughout the life cycle of a private equity investment, from the identification of an opportunity, through the various stages of the transaction and the lifetime of the investment, to the eventual exit by the investor. The analysis of key documentation and legal issues covers company law, employment law, pensions, taxation, debt funding and competition law, taking into account recent legal developments such as the Companies Act 2006, the recent emergence of private equity in the UK and the challenges faced by the industry as a result of the financial crisis.

Leveraged Buyouts

Author: Paul Pignataro
Publisher: John Wiley & Sons
ISBN: 1118674456
Size: 50.27 MB
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A comprehensive look at the world of leveraged buyouts The private equity industry has grown dramatically over the pasttwenty years. Such investing requires a strong technical know-howin order to turn private investments into successful enterprises.That is why Paul Pignataro has created Leveraged Buyouts +Website: A Practical Guide to Investment Banking and PrivateEquity. Engaging and informative, this book skillfully shows how toidentify a private company, takes you through the analysis behindbringing such an investment to profitability—and furthercreate high returns for the private equity funds. It includes aninformative leveraged buyout overview, touching on everything fromLBO modeling, accounting, and value creation theory to leveragedbuyout concepts and mechanics. Provides an in-depth analysis of how to identify a privatecompany, bring such an investment to profitability, and create highreturns for the private equity funds Includes an informative LBO model and case study as well asprivate company valuation Written by Paul Pignataro, founder and CEO of the New YorkSchool of Finance If you're looking for the best way to hone your skills in thisfield, look no further than this book.

M A

Author: Jeffrey C. Hooke
Publisher: John Wiley & Sons
ISBN: 1118816994
Size: 66.56 MB
Format: PDF
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The comprehensive M&A guide, updated to reflect the latest changes in the M&A environment M&A, Second Edition provides a practical primer on mergers and acquisitions for a broad base of individuals numbering in the hundreds of thousands: Investment bankers involved with mergers and acquisitions (M&A). Equity analysts at hedge funds, risk arbitrage funds, pension funds, and banks, who invest in firms engaged in M&A. Private equity professionals at buyout funds, venture capital funds, and hedge funds, who routinely buy and sell companies. Corporate executives and business development professionals. Institutional loan officers working with M&A and buyout transactions. Business students at colleges and graduate business schools. Investor relations professionals at corporations and public relations firms. Lawyers who work with corporate clients on M&A–related legal, financial, and tax matters. Independent public accounting firms that review M&A accounting. Government regulators Sophisticated individual investors Its comprehensive approach covers each step in the process, from finding an opportunity, to analyzing the potential, to closing the deal, with new coverage of private equity funds and international transactions. This updated second edition also includes information on emerging markets, natural resource valuation, hostile takeovers, special deals, and more, plus new examples and anecdotes taken from more current events. Additional illustrations and charts help readers quickly grasp the complex information, providing a complete reference easily accessible by anyone involved in M&A. The mergers and acquisitions environment has changed in the thirteen years since M&A was initially published, creating a tremendous need for authoritative M&A guidance from a banker′s perspective. This M&A update fills that need by providing the characteristic expert guidance in clear, concise language, complete with the most up–to–date information. Discover where M&A fits into different corporate growth strategies, and the unique merits it confers Delineate clear metrics for determining risk, valuation, and optimal size of potential acquisitions Gain deeper insight into the fundamentals of negotiation, due diligence, and structuring Understand the best time to sell, the best way to sell, and the process of the sale itself In the past decade, the dollar value of M&A deals has jumped ten–fold, and the number of individuals involved has expanded considerably. More and more executives, analysts, and bankers need to get up–to–date on the mechanics of M&A, without wading through volume after volume of dense, legalistic jargon. Finally, M&A is back providing a complete reference to the current state of the M&A environment.

Private Equity As An Asset Class

Author: Guy Fraser-Sampson
Publisher: John Wiley & Sons
ISBN: 0470970537
Size: 58.85 MB
Format: PDF, Mobi
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Unfairly reviled, and much misunderstood, private equity differs from all other asset classes in various important respects, not least the way in which its fund mechanisms operate, and the way in which its returns are recorded and analysed. Sadly, high level asset allocation decisions are frequently made on the basis of prejudice and misinformation, rather than a proper appreciation of the facts. Guy Fraser-Sampson draws upon more than twenty years of experience of the private equity industry to provide a practical guide to mastering the intricacies of this highly specialist asset class. Aimed equally at investors, professionals and business school students, it starts with such fundamental questions as ’what is private equity?’ and progresses to detailed consideration of different types of private equity activity such as venture capital and buyout. Rapid and significant changes in the environment during the recent financial crisis have prompted the need for a new edition. Separate chapters have been added on growth and development capital, as well as secondary investing. Newly emergent issues are considered, such as lengthening holding periods and the possible threat of declining returns. Particular problems, such as the need to distinguish between private equity and hedge funds, are addressed. The glossary has also been expanded. In short, readers will find that this new edition takes their understanding of the asset class to new heights. Key points include: A glossary of private equity terms Venture capital Buyout Growth capital Development capital Secondary investing Understanding private equity returns Analysing funds and returns How to plan a fund investment programme Detailed discussion of industry performance figures

Private Equity

Author: Darryl J. Cooke
Publisher: Sweet & Maxwell
ISBN: 0414041666
Size: 12.29 MB
Format: PDF, ePub, Docs
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"Explaining clearly the law and current practice of private equity transactions, this new edition of Private Equity: Law and Practice offers advice and information relevant to private equity investors, companies seeking funds, those financing deals and managers wishing to buy out a company.

Mastering Private Equity

Author: Claudia Zeisberger
Publisher: John Wiley & Sons
ISBN: 1119327989
Size: 14.96 MB
Format: PDF
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The definitive guide to private equity for investors and finance professionals Mastering Private Equity was written with a professional audience in mind and provides a valuable and unique reference for investors, finance professionals, students and business owners looking to engage with private equity firms or invest in private equity funds. From deal sourcing to exit, LBOs to responsible investing, operational value creation to risk management, the book systematically distils the essence of private equity into core concepts and explains in detail the dynamics of venture capital, growth equity and buyout transactions. With a foreword by Henry Kravis, Co-Chairman and Co-CEO of KKR, and special guest comments by senior PE professionals. This book combines insights from leading academics and practitioners and was carefully structured to offer: A clear and concise reference for the industry expert A step-by-step guide for students and casual observers of the industry A theoretical companion to the INSEAD case book Private Equity in Action: Case Studies from Developed and Emerging Markets Features guest comments by senior PE professionals from the firms listed below: Abraaj • Adams Street Partners • Apax Partners • Baring PE Asia • Bridgepoint • The Carlyle Group • Coller Capital • Debevoise & Plimpton LLP • FMO • Foundry Group • Freshfields Bruckhaus Deringer • General Atlantic • ILPA • Intermediate Capital Group • KKR Capstone • LPEQ • Maxeda • Navis Capital • Northleaf Capital • Oaktree Capital • Partners Group • Permira • Terra Firma

Financial Modeling And Valuation

Author: Paul Pignataro
Publisher: John Wiley & Sons
ISBN: 1118558693
Size: 78.77 MB
Format: PDF, Docs
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Written by the Founder and CEO of the prestigious New YorkSchool of Finance, this book schools you in the fundamental toolsfor accurately assessing the soundness of a stock investment. Builtaround a full-length case study of Wal-Mart, it shows you how toperform an in-depth analysis of that company's financial standing,walking you through all the steps of developing a sophisticatedfinancial model as done by professional Wall Street analysts. Youwill construct a full scale financial model and valuationstep-by-step as you page through the book. When we ran this analysis in January of 2012, we estimated thestock was undervalued. Since the first run of the analysis, thestock has increased 35 percent. Re-evaluating Wal-Mart9months later, we will step through the techniques utilized by WallStreet analysts to build models on and properly value businessentities. Step-by-step financial modeling - taught using downloadableWall Street models, you will construct the model step by step asyou page through the book. Hot keys and explicit Excel instructions aid even the noviceexcel modeler. Model built complete with Income Statement, Cash FlowStatement, Balance Sheet, Balance Sheet Balancing Techniques,Depreciation Schedule (complete with accelerating depreciation anddeferring taxes), working capital schedule, debt schedule, handlingcircular references, and automatic debt pay downs. Illustrative concepts including detailing model flows help aidin conceptual understanding. Concepts are reiterated and honed, perfect for a novice yetdetailed enough for a professional. Model built direct from Wal-Mart public filings, searchingthrough notes, performing research, and illustrating techniques toformulate projections. Includes in-depth coverage of valuation techniques commonlyused by Wall Street professionals. Illustrative comparable company analyses - built the right way,direct from historical financials, calculating LTM (Last TwelveMonth) data, calendarization, and properly smoothing EBITDA and NetIncome. Precedent transactions analysis - detailing how to extractproper metrics from relevant proxy statements Discounted cash flow analysis - simplifying and illustratinghow a DCF is utilized, how unlevered free cash flow is derived, andthe meaning of weighted average cost of capital (WACC) Step-by-step we will come up with a valuation on Wal-Mart Chapter end questions, practice models, additional case studiesand common interview questions (found in the companion website)help solidify the techniques honed in the book; ideal foruniversities or business students looking to break into theinvestment banking field.

Mastering Private Equity Set

Author: Claudia Zeisberger
Publisher: John Wiley & Sons
ISBN: 1119431166
Size: 67.81 MB
Format: PDF, ePub, Mobi
View: 6606
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This set combines the definitive guide to private equity with its case book companion, providing readers with both the tools used by industry professionals and the means to apply them to real-life investment scenarios. 1) Mastering Private Equity was written with a professional audience in mind and provides a valuable and unique reference for investors, finance professionals, students and business owners looking to engage with private equity firms or invest in private equity funds. From deal sourcing to exit, LBOs to responsible investing, operational value creation to risk management, the book systematically distils the essence of private equity into core concepts and explains in detail the dynamics of venture capital, growth equity and buyout transactions. With a foreword by Henry Kravis, Co-Chairman and Co-CEO of KKR, and special guest comments by senior PE professionals. 2) Private Equity in Action takes you on a tour of the private equity investment world through a series of case studies written by INSEAD faculty and taught at the world’s leading business schools. The book is an ideal complement to Mastering Private Equity and allows readersto apply core concepts to investment targets and portfolio companies in real-life settings. The 19 cases illustrate the managerial challenges and risk-reward dynamics common to private equity investment. Written with leading private equity firms and their advisors and rigorously tested in INSEAD's MBA, EMBA and executive education programmes, each case makes for a compelling read.

Introduction To Private Equity

Author: Cyril Demaria
Publisher: John Wiley & Sons
ISBN: 1118571916
Size: 44.17 MB
Format: PDF, Mobi
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This second edition of Introduction to Private Equity ismore than an update, it reflects the dramatic changes which haveaffected an industry which is evolving rapidly, internationalizingand maturing fast. What is recognized as a critical yet groundedguide to the private equity industry blends academic rigour withpractical experience. It provides a clear, synthetic and criticalperspective of the industry from a professional who has worked atmany levels within the industry; including insurance, funds offunds, funds and portfolio companies. The book approaches the private equity sector top-down, toprovide a sense of its evolution and how the current situation hasbeen built. It then details the interrelations between investors,funds, fund managers and entrepreneurs. At this point, theperspective shifts to bottom-up, how a private business is valued,how transactions are processed and the due diligence issues toconsider before moving ahead. Introduction to Private Equity, SecondEdition covers the private equity industry as a whole,putting its recent developments (such as secondary markets,crowdfunding, venture capital in emerging markets) intoperspective. The book covers its organization, governance andfunction, then details the various segments within the industry,including Leveraged Buy-Outs, Venture Capital, Mezzanine Financing,Growth Capital, Distressed Debt, Turn-Around Capital, Funds ofFunds and beyond. Finally, it offers a framework to anticipate andunderstand its future developments. This book provides a balanced perspective on the corporategovernance challenges affecting the industry and draws perspectiveson the evolution of the sector, following a major crisis.

Pipes

Author: Steven Dresner
Publisher: John Wiley & Sons
ISBN: 1576601943
Size: 75.65 MB
Format: PDF, ePub, Mobi
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In PIPE (Private Investments in Public Equity) transactions, public companies issue stock and bonds directly, and often discreetly, to large institutional investors, rather than raising capital in the stock and bond markets. "PIPEs" details how these deals are done, for what reasons, and with what caveats.