Ce cours apparaît dans les formations suivantes :
• IÉSEG > MSc in Investment Banking and Capital Markets > Semester 2 > 2,00 ECTS

Pré requis

Basic knowledge of financial analysis eg understanding the key components of balance sheet, cash flows, profit & loss
Knowing about how the Discount Cash Flow methodology works is an advantage

Objectifs du cours

At the end of the course, the student should be able to:
- Understand the best practices employed in the Private Equity (PE) industry, venture capital (VC), growth equity and buyouts in the context of the broader economy
- Delve into the PE / VC investment process, evaluating and balancing the risks and return
- Breakdown complex organizational problems using the appropriate methodology
- Organize change management processes
- Appraise the performance of a team
- Demonstrate an expertise on key concepts, techniques and trends in their professional field
- Understand the complexities of a PE deal are explored from an operational and strategic perspective
- Discuss about the key features of PE corporate governance
- Help interested students and professionals to support them in entering the PE eco-system

Contenu du cours

1.A brief history of global private equity (PE) and introduction to the institutional PE market—from early-stage venture capital to growth equity and leverage buyouts (LBOs)
2.Alternative PE strategies focused on investing in distressed businesses and real assets
3.Deal Sourcing and Due Diligence - identifying the right deals and creating a pipeline of deal opportunities
4.Getting entry target valuations right/valuation methods. Discussion of multiple valuation
5.Deal Structuring
6.Deal Execution and Documentation, subordination (PIK and Mezzanine) and economic and control rights.
7.Post-investment period - PE initiatives for operational value creation.
8.Exit - the key considerations for a successful exit strategy.

Modalités d'enseignement

Organisation du cours

Méthodes pédagogiques

• Case study
• E-learning
• Interactive class
• Presentation
• Project work
• Research
• Seminar
• Tutorial

Évaluation

30% Participation: discuss case studies, answer inclass questions, solve exercises
30% Group presentation
40% Written final exam

Bibliographie

• The course material (articles and cases) will be distributed electronically before the beginning of the course. -

• Geoff Yates, Mike Hinchliffe (2010, Law Practitioner Series) - A Practical Guide to Private Equity Transactions -

• Prahl, Michael_ White, Bowen_ Zeisberger, Claudia (2017, John Wiley & Sons) - Mastering Private Equity_ Transformation via Venture Capital, Minority Investments and Buyouts -

• David P. Stowell (2017, Academic Press) - Investment Banks, Hedge Funds, and Private Equity -

• McKinsey & Company (2018). The-rise-and-rise-of-private-markets David Carey, John E. Morris - King of Capital_ The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone (2010, Crown Business) -

Ressources internet

• IESEG ONLINE