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The year 2023 will be remembered as a challenging one for privateequity (PE), with complexities to navigate on many fronts. Although overall transaction volume was significantly down, privateequity funds still found. By: Akin Gump Strauss Hauer & Feld LLP
Privateequity firms can breathe a sigh of relief after a federal judge dismissed claims that threatened to establish a precedent for holding privateequity firms liable for certain actions by their portfolio companies. By: Troutman Pepper
Over the last decade, privateequity firms have acquired healthcare companies, hospitals, and clinics at an increasing rate. In fact, in those ten years, privateequity firms have spent roughly $1 trillion on an estimated 8,000 healthcare deals. This trend is only expected to increase through 2024.
Privateequity consulting firms play a crucial role in the success of portfolio companies by providing specialized expertise and strategic guidance. Privateequity consulting firms go beyond traditional advisory services by providing value-added services to their clients.
Privateequity sponsors can exhale: A federal court recently stopped the Federal Trade Commission's (FTC) antitrust action that targeted privateequity sponsor Welsh, Carson, Anderson & Stowe for the healthcare "roll-up" strategy of its anesthesia practice management portfolio company. Anesthesia Partners, Inc.
21, 2023, sued a privateequity firm in the U.S. The Federal Trade Commission (FTC) on Sept. District Court for the Southern District of Texas over an alleged decade-long "roll-up" strategy to consolidate anesthesiology practices in Texas. By: Holland & Knight LLP
What do privateequity and growth capital investors look for when adding new companies to their portfolio, and what strategies do they apply to help those companies optimize capital? They covered the current privateequity landscape, strategies for creating value, industry trends, various investment structures, and more.
On 13 May, a federal district court judge dismissed the Federal Trade Commission’s (FTC) antitrust case against privateequity firm Welsh, Carson, Anderson & Stowe and affiliated entities (Welsh Carson). The FTC’s case alleged that Welsh Carson, along with its portfolio company, US Anesthesia Partners, Inc.
A privateequity (PE) firm’s primary objective is to generate returns on its investments. When a PE firm acquires a portfolio company (PortCo), one way the PE firm increases its returns is by making employment-related changes—sometimes significant ones—at the PortCo level.
Privateequity is an investment asset class that has gained significant prominence and popularity in recent decades. However, privateequity can seem complex and intimidating to beginners who are unfamiliar with its fundamentals. Privateequity firms also invest in distressed debt or provide private debt financing.
The recent Request for Information by the Federal Trade Commission (FTC), Department of Justice (DOJ) and Department of Health and Human Services (HHS) seeking input on the effects of privateequity (PE) investment in the healthcare sector underscores the importance of an effective compliance program.
When you first decide to enter the world of privateequity, you will undoubtedly be more overwhelmed than you were when you entered investment banking recruiting. Below, I will outline some of the best privateequity firms to work for in 2023. And with the firm recently closing a new $3.25
Working in privateequity is highly attractive for many reasons, and many finance professionals who are not already in the field often look for ways to break in. One of the primary ways to do so is by landing an internship at a privateequity firm you might want to work at.
It wasn’t too long ago when privateequity firms had the power – and ability – to do very little heavy lifting in order to enjoy a substantial growth on their return in a short period of time. Earning returns from investments is harder than ever before, forcing privateequity firms to prove that they have something to offer companies.
The privateequity industry has experienced significant growth in recent years, leading to a highly competitive job market for aspiring professionals, particularly at the associate level. Below, I will provide a comprehensive guide on how to stand out in the competitive privateequity associate job market.
To know if the buyside is right for you, let’s start with a textbook understanding of “What is privateequity?” Privateequity involves investing capital directly into private businesses that are not publicly traded on stock exchanges (that would be a hedge fund).
Privateequity associates are the workhorses of any investment team. They are typically closest to the financial modeling, analytical work, and diligence that privateequity firms perform. Each associate is typically tasked with monitoring a handful of portfolio companies.
PrivateEquity Firms Embrace AI for Their Portfolio Companies By Drake Paulson, VP Strategic Partnerships, Anduin The integration of Artificial Intelligence (AI) into business operations has moved beyond mere speculation to tangible ROI.
For portfolio companies experiencing financial difficulties, credit support from PE sponsors may be essential in order for lenders to provide covenant relief or other accommodations to portfolio company borrowers. This excerpt discusses which entity […]
The median holding period for privateequity-backed portfolio companies is now 5.6 years, the highest value since PrivateEquity Info started tracking this metric in 2000.
Privateequity value creation came on my radar a few years ago when I noticed something: Even though traditional PE deal roles were not doing well, “operational” or “value creation” teams still seemed to be recruiting. What Does the PrivateEquity Value Creation Team Do in Real Life?
Privateequity sponsors and their healthcare portfolio companies are expected to ride the tailwind of an M&A rebound. Long-term capital gains tax rates will likely remain unchanged, or possibly drop. By: DLA Piper
In recent years, private credit has emerged as an important financing source for corporations of all kinds, especially for privateequity-owned businesses with high financial leverage. The growth of private credit can be traced back to the Great Financial Crisis of 2008-2009. What impact has this had on privateequity?
In the privateequity secondaries market, financing is often used to facilitate the purchase of portfolios of interests in privateequity funds. These transactions require lenders to underwrite the value of assets that the borrower does not yet own, which gives rise to a specific set of challenges for the lenders.
In the current deal environment, privateequity sponsors are increasingly looking for alternative ways of generating liquidity for their investments. A partial exit, in which the sponsor liquidates part of its investment in a portfolio company while retaining an ongoing interest in the business, is one increasingly popular alternative.
We reported in July that privateequity firms are delaying exits and holding portfolio companies longer to ensure they achieve the desired ROI from their investments.
Since 2020, a steadily increasing number of middle-market privateequity deals have included equity rollovers. Given the current acute challenges in arranging acquisition financing on palatable terms and a continued focus on ensuring alignment between privateequity (PE) investors and portfolio company management, the use of rollover equity (..)
He has had the honor of serving as president and CEO of three national privateequity-backed service companies over the past 21 years. The privateequity world has changed drastically since Adam first started. Adam was recruited to join this industry and he was initially unfamiliar with the concept of privateequity.
Some argue that GE offers the best of both worlds: the opportunity to fund innovation and growth – as in venture capital – plus the ability to limit downside risk and invest in proven companies – as in privateequity. The Top Growth Equity Firms Why Did Growth Equity Get So Popular? Developing new products or services.
Privateequity (PE) sponsors often provide incentives to founders, equity holders, employees, directors, and officers of portfolio companies in the form of rollover equity or incentive equity to align their interests with those of the sponsors. By: Goodwin
Patience is proving to be a virtue for a privateequity industry that began 2024 sitting on more than 28,000 portfolio companies valued at more than $3 trillion, according to a report by Bain & Company, as average hold periods extend markedly beyond the traditional three- to five-year horizon. By: Goodwin
Duckhorn Portfolio, a luxury wine company, announced that it was being acquired by Butterfly Equity, a Los Angeles-based privateequity firm, for $1.95 billion in a cash transaction. Moët Hennessy, the luxury wine and spirits producer, announced a minority investment in French Bloom, a nonalcoholic sparkling wine brand.
As with investment banking in Hong Kong , I can summarize privateequity in China in one sentence: “If you’re not Chinese, don’t even think about it, and even if you are Chinese, it’s best if you have great connections within the CCP and want to stay in China long-term.”
On September 28, 2024, California Governor Gavin Newsom vetoed AB 3129, which would have required qualifying privateequity groups, hedge funds, and any associated portfolio companies to notify and obtain written consent from the California Attorney General (the AG) at least 90 days before closing healthcare transactions with certain healthcare facilities (..)
According to recent coverage from PitchBook, secondary buyouts are making up a larger share of privateequity exits as firms look to speed up sales of portfolio companies. In a time when exit strategies have pivoted, and options might be more limited, it is no surprise that secondary buyouts have rebounded.
2023 has been one of the most challenging years for privateequity over the recent past. In this article, DealRoom draws on its experience to advise optimizing privateequityportfolios against this backdrop. The […]
In this episode, we’re joined by Steven Batchelor and Martina Sanow of Hg Capital, one of the largest and most successful privateequity firms in the world.
b' rn How PE Should Support Portfolio Company Acquisitions | Barak Routhenstein w/ Kison Patel rn rn rn watch here: rn rn rn How2Exit Sponsor: rn rn Reconciled provides industry-leading virtual bookkeeping and accounting services for busy business owners and entrepreneurs across the US. is important."
A data deep dive with LSEG’s Matt Toole about the dealmaking numbers for the first three quarters; a portfolio company of Parabellum Investments acquiring a digital banking software business; BharCap Partners buys a company in the insurance sector; and Bonaccord Capital making a minority investment in a healthcare-focused privateequity firm.
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