好的,坏和丑陋的:私募股权和covid-19

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观看第4季的第一章

对于全球大流行的高度挑战背景,随着许多公司倒塌和整个商业部门的挖空,一些公司仍然证明自己有弹性。As Vindi Banga, senior partner at the private equity fund Clayton Dubilier & Rice, observed during the Leadership in Extraordinary Times broadcast on 5 May 2021, ‘Most of our portfolio companies – and we have about 35 – grew earnings in 2020 over the prior year, and more than half actually achieved their original annual budget.’

在牛津大学奥德商学院金融经济学教授的谈话中,曼达讨论了为什么许多私募股权支持公司康复,并解决了与该部门相关的一些有争议的问题,including typically high levels of debt that have led to the collapse of some potentially viable companies, and the fact that so many PE-controlled companies were ‘rescued’ by the tax-payer. He argued that private equity was able to solve liquidity problems and provide the capital and partners to enable transformational growth. A fund that is thoughtful about its own reputation will not over-leverage and will invest to create sustainable value.

讨论确定了私募股权的独特特征,告知该部门在大流行期间的反应。

重点私募股权投资是确定的五年或六年期间的开始,以提供“价值大幅度变化”。公司充分专注于时间,行动速度和现金流。

敏捷私募股权公司能够快速移动,因为他们只有一小群股东 - 有时是单一股东。通常,这些股东高度从事本公司,知识渊博的策略和运营,能够迅速与管理迅速对齐。

领导私募股权公司谈论支持强大的领导团队。与公共公司相比,被任命的领导者倾向于指定其他人,“在私募股权业务中,您需要在零日零日获得整个足球队。