Private equity as an asset class
Guy Fraser-Sampson
| Year of publication: |
2010 ; 2nd ed (Online-Ausg.)
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|---|---|
| Authors: | Fraser-Sampson, Guy |
| Publisher: |
Hoboken : John Wiley & Sons |
| Subject: | Übernahme | Takeover | Investitionsentscheidung | Investment decision | Private Equity | Private equity | Risikokapital | Venture capital |
| Description of contents: | Table of Contents [swbplus.bsz-bw.de] ; Description [swbplus.bsz-bw.de] |
Online Resource
| Extent: | Online-Ressource (1 online resource (xvi, 264 p.)) ill. |
|---|---|
| Series: | The Wiley Finance Ser ; v.632 |
| Type of publication: | Book / Working Paper |
| Language: | English |
| Notes: | Includes bibliographical references and index. - Description based on print version record Private Equity as an Asset Class; Contents; About the Author; Acknowledgements; Introduction; 1 What is Private Equity?; What is Private Equity?; Fund investing versus direct investing; Co-investment; Terminology; Different types of Private Equity investment; Summary; 2. What are Private Equity Funds, and How do They Work?; Capital: Allocated, Committed, Drawn Down and Invested; How do Private Equity Funds Work?; Structure; Cash flow; Investment; Fundraising; Private Equity Funds Distinguished from Other Fund Types; Hedge funds; Infrastructure; Private (Equity) Real Estate A Note on International IssuesSummary; 3. Private Equity Returns - The Basics; Understanding the J-curve and Compound Returns; Upper Quartile Figures; Median Returns; Average Returns; Pooled Returns; Using Vintage Year Returns for Benchmarking Purposes; Time-weighted Returns; Summary; 4 Private Equity Returns - Multiples and Muddles; Multiples; Distributed over paid in (DPI); Paid in to committed capital (PICC); Residual value to paid in (RVPI); Total value to paid in (TVPI); Use of multiples in industry research; Muddles, Muggles and Markowitz; Returns; Risk; Liquidity; Summary; 5 Buyout Types of Buyout TransactionMBO; MBI; BIMBO; LBO; Take Private (P2P); Roll-up; Secondary Buyouts; Other 'Buyout' Activity; PIPEs; How do Buyouts Work?; Characteristics of Buyout; Established businesses; Debt; Earnings; Size; Control; Barriers to entry; Summary; 6 How to Analyse Buyouts; Earnings; EBIT; EBITDA; Earnings Growth; Multiple; Multiple increase (sometimes called multiple arbitrage); Leverage; Recapitalisation; Timing; Modelling and Analysing Buyout Funds; Enterprise value; Summary; 7 Buyout Returns; US versus European Buyout; Buyout skill bases; Imperfect markets; Earnings multiples Earnings growthLeverage; Contribution of different drivers; Fund size; Summary; 8 Venture Capital; What is Venture Capital?; Backing New Applications, Not New Technology; Classifi cation by Sector; IT; Telecoms; Life Science; Classification by Stage; Seed stage; Early stage; Mid and late stages; Summary; 9 How to Analyse Venture; The Fundamentals (1) - Money Multiples; The Fundamentals (2) - Valuation; Valuation as an element of stated returns; Differences in valuation approach between Europe and the US; Variability of Venture valuations; Pre-money and post-money valuations; Share classes The Fundamentals (3) - Cost and ValueIRRs and multiples; Going in equity (GI%); Percentage of the holding within the fund; The Impact of Home Runs; Summary; 10 Venture Returns; US Outperformance versus Europe; Money multiples drive IRRs; Home runs and the golden circle; Market conditions; European Venture - Is it as Bad as it Seems?; Returns and Fund Size; Venture returns by stage; What of the Future?; Summary; 11. Growth and Development Capital; The PLC and the BCG Growth Matrix; Development Capital; Target companies; Money in deals; Money out deals; Objectives; Growth Capital Target companies |
| ISBN: | 978-1-283-37169-8 ; 978-0-470-66138-3 ; 0-470-66138-0 |
| Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10012683417