Private Equity News

Creating Value In A Maturing Private Equity Market

Creating Value In A Maturing Private Equity Market
As the private equity industry has matured, massive capital inflows and the proliferation of industry professionals has created competition across all segments of the marketplace. As in any industry, over time this competition has diminished both expected and actual returns on capital deployed. The era where astute financial engineering alone is sufficient to generate superior returns is over. Indeed, competition… read more →

GOING BACK TO SCHOOL

GOING BACK TO SCHOOL
After a 20-year hiatus from the classroom, I recently had the opportunity to reconnect with my most influential professor from graduate school, Dr. Allen Michel. Dr. Michel, an internationally recognized expert on mergers & acquisition related matters and a professor at Boston University Graduate School of Management, asked me to speak to his graduate students on "what leads to a… read more →

Keeping Deals On Track

Keeping Deals On Track
Four years ago, I joined the Alliance of Merger & Acquisition Advisors® (AM&AA), a trade organization bringing together investment bankers, private equity professionals, CPAs, attorneys and other corporate financial advisors for educational and networking purposes. This past month, AM&AA held its Summer Conference in Chicago which included over 400 M&A professionals discussing various topics ranging from valuation and leverage trends to the… read more →

For A Random Walk Down Main Street

For A Random Walk Down Main Street
"Beware of geeks carrying calculators" ~Warren Buffet Most finance majors at MBA programs during the 1980's, were introduced to Modern Portfolio Theory. We were taught about efficient markets and introduced to the Random Walk notion that stock prices in the public markets were efficient and factored in all available information such that their purchase or sale represented a zero net… read more →

Parked On Level 5

Parked On Level 5
Ten years ago, Jim Collins released Good to Great: Why Some Companies Make the Leap…and Others Don’t. In developing his thesis, Collins and his research team identified a group of companies which went through transformational periods and made the leap from mediocrity to sustained long term superiority lasting at least 15 years. This group of companies went on to generate… read more →
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