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Value creation in private equity

Private Equity 4. 0, 2015, p.69-102

2015 Benoît Leleux, Hans van Swaay & Esmeralda Megally ;ISBN: 9781118939734 ;ISBN: 1118939735 ;EISBN: 9781118939833 ;EISBN: 1118939832 ;EISBN: 1118939840 ;EISBN: 9781118939840 ;EISBN: 9781118939826 ;EISBN: 1118939824 ;DOI: 10.1002/9781118939826.ch3 ;OCLC: 898154138 ;LCCallNum: HG4751 -- .L45 2015eb

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  • Title:
    Value creation in private equity
  • Author: Leleux, Benoît ; van Swaay, Hans ; Megally, Esmeralda
  • Megally, Esmeralda ; van Swaay, Hans ; Leleux, Benoît
  • Subjects: financial leverage ; general partners (GPs) ; multiple arbitrage ; operational value ; portfolio companies ; private equity firms ; value creation
  • Is Part Of: Private Equity 4. 0, 2015, p.69-102
  • Description: Private equity firms are choosy shoppers, aggressive value builders and often discreet sellers. This chapter takes a micro perspective and tries to understand how private equity firms engineer value creation in their target companies. It also looks at private equity firms through the prism of the general partners (GPs) to understand how value is effectively created in portfolio companies. It has often been argued that private equity flourishes on market inefficiencies, and hence is more akin to an arbitrage play. The case studies presented in this chapter illustrate how private equity firms develop and implement winning strategies at the portfolio level, and how they support these strategies internally. All three strategies, operational value, financial leverage and multiple arbitrages, are sources of value creation, and private equity firms often use a combination of the three to achieve their goal.
  • Publisher: United Kingdom: John Wiley & Sons, Incorporated
  • Language: English
  • Identifier: ISBN: 9781118939734
    ISBN: 1118939735
    EISBN: 9781118939833
    EISBN: 1118939832
    EISBN: 1118939840
    EISBN: 9781118939840
    EISBN: 9781118939826
    EISBN: 1118939824
    DOI: 10.1002/9781118939826.ch3
    OCLC: 898154138
    LCCallNum: HG4751 -- .L45 2015eb
  • Source: Ebook Central Academic Complete
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