Pipe Investments Of Private Equity Funds The Temptation Of Public Equity Investments To Private Equity Firms

Download Pipe Investments Of Private Equity Funds The Temptation Of Public Equity Investments To Private Equity Firms full books in PDF, epub, and Kindle. Read online Pipe Investments Of Private Equity Funds The Temptation Of Public Equity Investments To Private Equity Firms ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!

PIPE Investments of Private Equity Funds: The Temptation of Public Equity Investments to Private Equity Firms

Author : Bernhard S„rve
Publisher : Diplomica Verlag
ISBN 13 : 3842889119
Total Pages : 81 pages
Book Rating : 4.8/5 (428 download)

DOWNLOAD NOW!

Book Synopsis PIPE Investments of Private Equity Funds: The Temptation of Public Equity Investments to Private Equity Firms by : Bernhard S„rve

Download or read book PIPE Investments of Private Equity Funds: The Temptation of Public Equity Investments to Private Equity Firms written by Bernhard S„rve and published by Diplomica Verlag. This book was released on 2013 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: Usually, private equity firms take control of firms which are privately held, and tend to act hidden. But, in recent years, the rising phenomenon of private investments in publicly listed companies, so-called PIPEs, could be observed. At first, this seems to be inconsistent but, it could become a perfect way to generate good returns. This book gives an overview about the PIPE market, and then focuses on the role of private equity funds. How do they invest in publicly listed firms? And what are their motivations? Is the overall performance of PIPE deals superior to those of traditional private deals? PIPE deals have much in common with typical venture capital deals with regard to the young and high-risk nature of target companies, and the minority ownership position. Surprisingly, buyout funds are relatively more engaged in PIPEs than venture funds are. The author analyzes deal sizes, industry sectors, holding periods, IRRs and multiples of public deals, and comparable private deals with a unique data sample on transaction level. Finally, he discusses other possible motives for private equity firms to engage in these deals: improved liquidity, fast process of deal execution, access to certain markets, avoidance of takeover premiums and the thesis of an escape-strategy for surplus investment money.

PIPEs

Author : Steven Dresner
Publisher : John Wiley & Sons
ISBN 13 : 0470883073
Total Pages : 319 pages
Book Rating : 4.4/5 (78 download)

DOWNLOAD NOW!

Book Synopsis PIPEs by : Steven Dresner

Download or read book PIPEs written by Steven Dresner and published by John Wiley & Sons. This book was released on 2010-05-20 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private investments in public equity (PIPEs) offer a practical financing alternative for companies seeking capital and a unique asset for investors. For practitioners who know how to identify and execute transactions, PIPEs present a growing opportunity. This revised and updated guide presents the views, voices, and invaluable expertise of leading practitioners from all specialties in the field. The book is divided into three parts: "The Business of PIPEs," which provides a historical backdrop and overview; "Regulatory Landscape and Structural Alternatives," which details the legal framework and transaction structures; and "Deal Flow," which offers the investor’s perspective on negotiating deals. With detailed discussions, ranging from the origins of the marketplace and deal structures to legal considerations and due diligence, and from finding new opportunities to trading strategies, this book provides a clear window to the inner workings of this active area of the small-cap market. Investors, financial analysts, investment bankers, corporate and securities attorneys, and executives of public companies will find substantial value in the pages of this book.

Listed Private Equity: Investment Strategies and Returns

Author : Sarah Kumpf
Publisher : Diplomica Verlag
ISBN 13 : 3842889488
Total Pages : 93 pages
Book Rating : 4.8/5 (428 download)

DOWNLOAD NOW!

Book Synopsis Listed Private Equity: Investment Strategies and Returns by : Sarah Kumpf

Download or read book Listed Private Equity: Investment Strategies and Returns written by Sarah Kumpf and published by Diplomica Verlag. This book was released on 2013 with total page 93 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.

Behind the Curve: An Analysis of the Investment Behavior of Private Equity Funds

Author : Christian Deger
Publisher : Diplomica Verlag
ISBN 13 : 3842889100
Total Pages : 81 pages
Book Rating : 4.8/5 (428 download)

DOWNLOAD NOW!

Book Synopsis Behind the Curve: An Analysis of the Investment Behavior of Private Equity Funds by : Christian Deger

Download or read book Behind the Curve: An Analysis of the Investment Behavior of Private Equity Funds written by Christian Deger and published by Diplomica Verlag. This book was released on 2013 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the domain of corporate acquisitions, leveraged buyouts (LBO) have gained tremendous importance since their first appearance in the late 1970?s. After having suffered from different economic downturns throughout the years, buyouts have become a major force in the worldwide economy, and reached a record accumulated transaction value of $878bn in 2007. LBOs are generally conducted by a private equity (PE) firm through a buyout fund. The fund manager raises a certain amount of equity from outside investors, and invests it into later-stage companies for an average holding period of around five years. An important characteristic of an LBO is that investments are not only financed by equity capital from the fund but, also with a significant amount of debt which is raised individually on a deal-by-deal basis. Moreover, the compensation of both fund managers, and equity investors is not based on the individual investment itself but, on the success of the whole fund. As a result, the particular conditions of buyout investments in a fund setting, as well as the distinct incentive structure of buyout funds, facilitate an increased sensitivity of fund managers with regard to the current state of their fund. This may also influence their leverage and pricing decisions on the transaction level. Corresponding research on buyout structuring is still in its infancy. While there is an increasing amount of empirical literature on the various determinants of leverage and pricing in buyout transactions, little is known about how the investment behavior of buyout funds drives these structuring decisions. A notable exception is the work by Axelson, et al. (2009), who developed a theoretical model that is based on a principal agent conflict between fund managers and outside investors. The model provides a number of predictions on how the investment behavior of fund managers impacts leverage, and decisions about prices at investment entry. The main goal of this study is to identify the forces behind these decisions, and to verify empirically the predictions of the Axelson, et al. (2009) model. Therefore, the work of Axelson, et al. (2009), supplemented with additional literature on LBO leverage and pricing, as well as the investment behavior of buyout funds, forms the theoretical part of the study. Based on the findings of this theoretical part, three hypotheses are formulated, and tested through the use of comprehensive investment pressure variables that were developed on the basis of a representative dataset of 1,190 buyout transactions which were completed between 1985 and 2009.

Windfall Profit in Portfolio Diversification?: An Empirical Analysis of the Potential Benefits of Renewable Energy Investments

Author : Frederik Bruns
Publisher : Diplomica Verlag
ISBN 13 : 384288799X
Total Pages : 113 pages
Book Rating : 4.8/5 (428 download)

DOWNLOAD NOW!

Book Synopsis Windfall Profit in Portfolio Diversification?: An Empirical Analysis of the Potential Benefits of Renewable Energy Investments by : Frederik Bruns

Download or read book Windfall Profit in Portfolio Diversification?: An Empirical Analysis of the Potential Benefits of Renewable Energy Investments written by Frederik Bruns and published by Diplomica Verlag. This book was released on 2013 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern Portfolio Theory is a theory which was introduced by Markowitz, and which suggests the building of a portfolio with assets that have low or, in the best case, negative correlation. In times of financial crises, however, the positive diversification effect of a portfolio can fail when Traditional Assets are highly correlated. Therefore, many investors search for Alternative Asset classes, such as Renewable Energies, that tend to perform independently from capital market performance. 'Windfall Profit in Portfolio Diversification?' discusses the potential role of Renewable Energy investments in an institutional investor’s portfolio by applying the main concepts from Modern Portfolio Theory. Thereby, the empirical analysis uses a unique data set from one of the largest institutional investors in the field of Renewable Energies, including several wind and solar parks. The study received the Science Award 2012 of the German Alternative Investments Association ('Bundesverband Alternative Investments e.V.').

Big Data Investments: Effects of Internet Search Queries on German Stocks

Author : Jan Becker
Publisher : Diplomica Verlag
ISBN 13 : 3959345976
Total Pages : 93 pages
Book Rating : 4.9/5 (593 download)

DOWNLOAD NOW!

Book Synopsis Big Data Investments: Effects of Internet Search Queries on German Stocks by : Jan Becker

Download or read book Big Data Investments: Effects of Internet Search Queries on German Stocks written by Jan Becker and published by Diplomica Verlag. This book was released on 2015-08 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the internet has developed very quickly and became a major source of information all over the planet. Many scientists have used search engine query data to forecast econometric time series like consumer confidence indicators, unemployment rates, retail sales, house price indices, stock prices, volatility of stocks and even commodity prices. Following the prior research this study analyzes the impact of internet search engine data on capital markets. Many authors already have contributed to index level data and most of them on the US market. This study adds to the existing literature on the German stock market. Two research questions are answered: First, whether an increase in search queries drives individual stock returns and second, whether queries affect the implied volatility of stock options. After controlling for seasonality, autocorrelation and general market risk, in the further analysis also the Price-to-Book valuation, one year performance and historical volatility are examined in interaction with internet search queries.

PIPEs

Author : Steven Dresner
Publisher :
ISBN 13 :
Total Pages : 291 pages
Book Rating : 4.:/5 (1 download)

DOWNLOAD NOW!

Book Synopsis PIPEs by : Steven Dresner

Download or read book PIPEs written by Steven Dresner and published by . This book was released on 2005 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private investments in public equity (PIPEs) offer a practical financing alternative for companies seeking capital and a unique asset for investors. For practitioners who know how to identify and execute transactions, PIPEs present a growing opportunity. This revised and updated guide presents the views, voices, and invaluable expertise of leading practitioners from all specialties in the field. The book is divided into three parts: "The Business of PIPEs," which provides a historical backdrop and overview; "Regulatory Landscape and Structural Alternatives," which details the legal framework and transaction structures; and "Deal Flow," which offers the investor's perspective on negotiating deals. With detailed discussions, ranging from the origins of the marketplace and deal structures to legal considerations and due diligence, and from finding new opportunities to trading strategies, this book provides a clear window to the inner workings of this active area of the small-cap market. Investors, financial analysts, investment bankers, corporate and securities attorneys, and executives of public companies will find substantial value in the pages of this book.

The Issuer's Guide to PIPEs

Author : Steven Dresner
Publisher : John Wiley & Sons
ISBN 13 : 0470885505
Total Pages : 499 pages
Book Rating : 4.4/5 (78 download)

DOWNLOAD NOW!

Book Synopsis The Issuer's Guide to PIPEs by : Steven Dresner

Download or read book The Issuer's Guide to PIPEs written by Steven Dresner and published by John Wiley & Sons. This book was released on 2010-06-04 with total page 499 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulatory changes, market fluctuation, and new deal structures have ushered in a new era for the PIPEs market. Companies must understand the complexities of a market gone global, with private investments in public equity expanding in the United States as well as in Asia and Europe. Steven Dresner brings together an all-star cast of contributors in his follow-up to PIPEs: A Guide to Private Investments in Public Equity, focusing this new book on the most prescient topics for informed readers. With chapters on international PIPEs, new deal structures, the latest legal complications, and the most recent regulation, Dresner’s new book details the changes in the PIPEs market, with an emphasis on the matters most closely tied to issuers. Steven Dresner is the founder of DealFlow Media, a publishing, database, and events company focused on analysis of emerging financial markets. He is also an active investor.

Private Equity Funds

Author : James M. Schell
Publisher : Law Journal Press
ISBN 13 : 9781588520883
Total Pages : 864 pages
Book Rating : 4.5/5 (28 download)

DOWNLOAD NOW!

Book Synopsis Private Equity Funds by : James M. Schell

Download or read book Private Equity Funds written by James M. Schell and published by Law Journal Press. This book was released on 2023-08-28 with total page 864 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The best guide to private equity funds. Insight and explanations for both fund sponsors and investors. The gold standard." --Andrew Zalasin, General Partner and CFO: RRE Ventures Best Practices for Organizing and Managing a Fund With nearly $7 trillion invested in more than 20,000 funds, investor interest in the private equity industry has returned, despite the economic turmoil of recent years. Still, guidance about the organization and administration of these funds is tough to find. This 1,400+ page resource, will equip corporate lawyers, investment professionals, and tax practitioners and with best practices to manage these funds effectively. Private Equity Funds: Business Structure and Operations covers a wide range of important issues, such as: the key economic differences between various types of funds; structuring the private equity fund to meet economic expectations and investment goals; securing maximum tax benefits for the sponsor of the fund; duties of the fund's General Partner and Investment Advisor; the major regulatory issues affecting the private equity fund; and much more. Private Equity Funds: Business Structure and Operations reflects the aftermath of the financial crisis of 2007 to 2009. The authors also focus on cyber risk and the compliance obligations of investment advisers.

Advanced Introduction to Private Equity

Author : Gompers, Paul A.
Publisher : Edward Elgar Publishing
ISBN 13 : 1800372183
Total Pages : 167 pages
Book Rating : 4.8/5 (3 download)

DOWNLOAD NOW!

Book Synopsis Advanced Introduction to Private Equity by : Gompers, Paul A.

Download or read book Advanced Introduction to Private Equity written by Gompers, Paul A. and published by Edward Elgar Publishing. This book was released on 2022-08-12 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Advanced Introduction provides an illustrative guide to private equity, integrating insights from academic research with examples to derive practical recommendations. Paul Gompers and Steven Kaplan begin by reviewing the history of private equity then exploring the evidence on performance of private equity investments at both the portfolio company level and fund level, documenting the creation of economic value. The book then presents a set of actionable frameworks for driving value creation in private equity investments. It concludes by examining how private equity investors raise funds and how they successfully manage their private equity firms.

Structuring European Private Equity

Author : Iggy Bassi
Publisher : Euromoney Books
ISBN 13 : 9781843742623
Total Pages : 196 pages
Book Rating : 4.7/5 (426 download)

DOWNLOAD NOW!

Book Synopsis Structuring European Private Equity by : Iggy Bassi

Download or read book Structuring European Private Equity written by Iggy Bassi and published by Euromoney Books. This book was released on 2006 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes LP allocation strategies to funds, fund structures, investment strategies, performance measurement and governance at the fund and portfolio level

The Private Equity Edge: How Private Equity Players and the World's Top Companies Build Value and Wealth

Author : Arthur Laffer
Publisher : McGraw Hill Professional
ISBN 13 : 0071642927
Total Pages : 352 pages
Book Rating : 4.0/5 (716 download)

DOWNLOAD NOW!

Book Synopsis The Private Equity Edge: How Private Equity Players and the World's Top Companies Build Value and Wealth by : Arthur Laffer

Download or read book The Private Equity Edge: How Private Equity Players and the World's Top Companies Build Value and Wealth written by Arthur Laffer and published by McGraw Hill Professional. This book was released on 2008-07-01 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world is changing and has never been more challenging to private equity players, public companies, and investors. With record market volatility and a global economic crisis, decision makers of all types can learn from successful private equity players and other top value builders. Private equity is growing at a rapid rate, with $2.7 trillion in transactions since 2001 and buyouts occurring in every type of market, including declining ones. And now, with the end of investment banks as we know them, the door is open to more opportunities than ever. In The Private Equity Edge, economics giant Arthur B. Laffer, along with value-building experts William J. Hass and Shepherd G. Pryor IV, combines the concepts of intrinsic value, macroeconomics, and incentives into a single strategy used by today’s top value builders. You’ll learn how to create value while reducing risk by: Thoroughly exploring relevant data to quantify ranges of value and risk Anticipating reactions of those whom you seek to influence Exploring possibilities and options before making major decisions Employing incentive systems that work in both up and down markets Examples of major private equity players at Blackstone, KKR, Carlyle, Cerberus, and Madison Dearborne Partners illustrate what to do and what to avoid in specific situations. Decision makers seeking to take full advantage of the new, interconnected world of business and economics will learn how to make the best decision the first time around, quickly and with conviction—the key to seizing the private equity edge.

Private Equity and Its Impact

Author : Spencer J. Fritz
Publisher :
ISBN 13 :
Total Pages : 188 pages
Book Rating : 4.3/5 ( download)

DOWNLOAD NOW!

Book Synopsis Private Equity and Its Impact by : Spencer J. Fritz

Download or read book Private Equity and Its Impact written by Spencer J. Fritz and published by . This book was released on 2009 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at the increase in leveraged buyouts (LBO) of U.S. companies by private equity funds prior to the slowdown in mid-2007 which has raised questions about the potential impact of these deals. Some praise LBOs for creating new governance structures for companies and providing longer term investment opportunities for investors. Others criticise LBOs for causing job losses and burdening companies with too much debt. This book addresses the effect of recent private equity LBOs on acquired companies and employment, the impact of LBOs jointly undertaken by two or more private equity funds on competition, the Securities and Exchange Commission's (SEC) oversight of private equity funds and their advisers, and regulatory oversight of commercial and investment banks that have financed recent LBOs. The U.S. Government Accountability Office (GAO) reviewed academic research, analysed recent LBO data, conducted case studies, reviewed regulators' policy documents and examinations, and interviewed regulatory and industry officials, and academics. The GAO recommends that the federal financial regulators give increased attention to ensuring that their oversight of leveraged lending at their regulated institutions takes into consideration systemic risk implications raised by changes in the broader financial markets.

Private Equity

Author : Paul Gompers
Publisher : Anthem Press
ISBN 13 : 1783089180
Total Pages : 599 pages
Book Rating : 4.7/5 (83 download)

DOWNLOAD NOW!

Book Synopsis Private Equity by : Paul Gompers

Download or read book Private Equity written by Paul Gompers and published by Anthem Press. This book was released on 2019-03-15 with total page 599 pages. Available in PDF, EPUB and Kindle. Book excerpt: ’Private Equity’ is an advanced applied corporate finance book with a mixture of chapters devoted to exploring a range of topics from a private equity investor’s perspective. The goal is to understand why and which practices are likely to deliver sustained profitability in the future. The book is a collection of cases based on actual investment decisions at different stages for process tackled by experienced industry professionals. The majority of the chapters deal with growth equity and buyout investments. However, a range of size targets and investments in different geographical markets are covered as well. These markets include several developed economies and emerging markets like China, Russia, Turkey, Egypt and Argentina. This compilation of cases is rich in institutional details, information about different markets, and segments of the industry as well as different players and their investment practices – it is a unique insight into the key alternative asset class.

Mastering Private Equity Set

Author : Claudia Zeisberger
Publisher : John Wiley & Sons
ISBN 13 : 1119431166
Total Pages : 827 pages
Book Rating : 4.1/5 (194 download)

DOWNLOAD NOW!

Book Synopsis Mastering Private Equity Set by : Claudia Zeisberger

Download or read book Mastering Private Equity Set written by Claudia Zeisberger and published by John Wiley & Sons. This book was released on 2017-07-06 with total page 827 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Inside Private Equity

Author : James M. Kocis
Publisher : John Wiley & Sons
ISBN 13 : 0470471158
Total Pages : 352 pages
Book Rating : 4.4/5 (74 download)

DOWNLOAD NOW!

Book Synopsis Inside Private Equity by : James M. Kocis

Download or read book Inside Private Equity written by James M. Kocis and published by John Wiley & Sons. This book was released on 2009-03-23 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inside Private Equity explores the complexities of this asset class and introduces new methodologies that connect investment returns with wealth creation. By providing straightforward examples, it demystifies traditional measures like the IRR and challenges many of the common assumptions about this asset class. Readers take away a set of practical measures that empower them to better manage their portfolios.

The Oxford Handbook of Private Equity

Author : Douglas Cumming
Publisher : Oxford University Press
ISBN 13 : 0199942609
Total Pages : 768 pages
Book Rating : 4.1/5 (999 download)

DOWNLOAD NOW!

Book Synopsis The Oxford Handbook of Private Equity by : Douglas Cumming

Download or read book The Oxford Handbook of Private Equity written by Douglas Cumming and published by Oxford University Press. This book was released on 2012-03-22 with total page 768 pages. Available in PDF, EPUB and Kindle. Book excerpt: The term private equity typically includes investments in venture capital or growth investment, as well as late stage, mezzanine, turnaround (distressed), and buyout investments. It typically refers to the asset class of equity securities in companies that are not publicly traded on a stock exchange. However, private equity funds do in fact make investments in publicly held companies, and some private equity funds are even publicly listed. Chapters in this book cover both private and public company investments, as well as private and publicly listed private equity funds. This Handbook provides a comprehensive picture of the issues surrounding the structure, governance, and performance of private equity. It comprises contributions from 41 authors based in 14 different countries. The book is organized into seven parts, the first of which covers the topics pertaining to the structure of private equity funds. Part II deals with the performance and governance of leveraged buyouts. Part III analyzes club deals in private equity, otherwise referred to as syndicated investments with multiple investors per investees. Part IV provides analyses of the real effects of private equity. Part V considers the financial effects of private equity. Part VI provides analyzes of listed private equity. Finally, Part VII provides international perspectives on private equity.