Eleonora Calzavara
The Global Financial System and the Credit Crisis Zurich, 1st
April 2009
University of Zurich
Private Equity
Agenda:
梦见好多人吃饭1.What is Private Equity?
2.History of Private Equity
3.Charts
4.Investments in Private Equity
5.Structure of a generic Private Equity Fund
6.Private Equity Investments
6.1Leveraged Buyout
6.2Venture Capital
6.3Growth Capital
6.4Distresd and Special Situations
6.5Mezzanine Capital
盼雪6.6Secondaries
7.Other Strategies
8.Liquidity in the Private Equity Market
9.Typical Risks
西安都市快报政治提纲10.Private Equity Firms
What is Private Equity?
Private Equity is an ast class consisting of equity curities in operating companies that are not publicly traded on a stock exchange.
Investments in Private Equity can be investment of capital into an operating company or the acquisition of the company.
Capitals for Private Equity are given for a large part from Institutional Investors.
成人电影有哪些This kind of investments need a long time-horizon, usually 10-15 years.
高考作文万能模板
There a lot of type of Private Equity and the term Private Equity has different type of connotations among different counties. Usually returns in the first years are very low becau there will be
知行统一a liquidity return later when the company that is the objective of
the investment will be sold.
History of Private Equity(1)
The beginning of Private Equity ris again in 1946 with two venture capital firms in the USA:
⏹American Rearch and Development Corporation (ARDC)
⏹J.H. Whitney & Company
ARDC was founded by Georges Doriot with capital raid from institutional investors to encourage private ctor investments in business run by soldiers who were returning from World War II. The investment in Digital Equipment Corporation (DEC) is its most important investment becau the initial price was
70.000$ in 1957 and in 1968 after the company’s initial pubblic
offering it was valued at over $355 million.
History of Private Equity(2)
一阕
J.H. Whitney & Company was founded by John Whitney in 1946 after the World War II to finance entrepreneurs with business plans who were unwelcome at banks. Its most important investment was in Florida Foods Corporation which developed an innovative method for delivering nutrition to American soldiers that was called Minute Maid orange juice and was sold to the Coca-Cola Company in 1960.
