Private Equity Courses

2009 Calendar of Corporate Finance Courses

In the tough economic conditions today, strategies for corporate finance and mergers and acquisitions will presumably have to adapt in new ways. This is why Eureka Financial has launched a new set of courses designed to help M&A specialists, corporate financiers, equity investors and other finance professionals. Here is more from Eureka Financial:

With the current market situation comes a new chapter for M&A and corporate finance. Tougher conditions and new market players force companies to re-think their strategies and search for new innovative approaches. Still, many corporate finance specialists believe that the current market provides interesting opportunities. The key factor for success is to be well informed and well prepared.

This is why Eureka Financial has come up with new set of financial courses which will help boost your career and prepare you for current challenges.

Run by international trainers with many years of practical experience and who have been involved in numerous international M&As and LBOs transactions, the courses will give you a chance to improve your financial modelling skills, effectively manage cash flows and organise detailed due diligence in order to evaluate your potential targets. You will be able to explore more complex issues of the M&A process as well as be prepared to help companies go through successful post-merger integration.

Whether you are an M&A specialist or work for a company which is thinking of getting involved in a merger or buyout of another company, you should attend one of our courses in order to become better prepared for the awaiting challenges.

Here are links to Eureka Financial's latest courses:

Book now and save up to £1200!

Upcoming courses:

Successful Strategies for M&As Intermediate Level, 24-24 March London and 15-16 June Dubai

Financial Modelling for M&As and LBOs - Intermediate Level, 22-23 April London and 21-22 June Dubai

Leveraged Finance Strategies Intermediate Level, 19-20 April 2009 London and 17-18 June 2009 Dubai

Discounted Cash Flow Modelling for Corporates, 10-11 June 2009 London, June 2009 Dubai - Dates TBA

Post-Acquisition Integration Strategies, 25-26 June 2009 London, June 2009 Dubai - Dates TBA

For more information on Eureka Financial courses and a complete calendar visit this link.


Tags: Private equity courses, private equity education, private equity learning, private equity classes, private equity studying, private equity books, private equity, eureka financial

Link to This Resource: Private Equity Courses

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Private Equity Chemical

New Buyers Replace Private Equity in Chemical Industry

According to recent statistics, the current environment for big private equity M&A deals is that deal volume has fallen, existing deals are being abandoned, future deals are being put off or canceled.

For example, total mergers and acquisitions deal volume fell almost 30% in 2008 compared to the previous year. Banks and other financiers are much more hesitant to lend capital in the credit crunch, making it very difficult to complete a private equity deal, especially those relying heavily on debt. The difficulty in carrying out a private equity deal today is evident here: "In 2008, companies abandoned 1,300 transactions valued at $900 million vs. 870 withdrawn deals in 2007 valued at $1.1 billion" (Dealogic).

Without Private Equity, New Buyers enter Chemical Industry

Corporate deal activity in the chemical industry is being funded more and more by strategic buyers in the absence of private equity firms. Prior to the economic downturn, private equity firms were awash with capital to finance acquisitions of major chemical companies. Now, strategic buyers, who were pushed out by private equity's much larger capital capabilities, are able to use their capital accumulated during that period to finance large acquisitions in the chemical industry.

Private equity players seem to have actually helped the strategic buyers. The high demand driven up by the competitive private equity market pushed valuations far beyond realistic levels. According to Forbes, "Private equity demand drove multiples above 10x EV/EBITDA (market capitalization plus debt minus cash divided by earnings before interest and taxes, plus depreciation)." This high price made sure that strategic buyers couldn't enter the chemical market and thus were forced to wait it out until valuations returned to more accurate levels. It's likely that the chemical industry will see an increase in deal activity again, this time led by smaller chemical producers that can now buy competitively.

These strategic buyers have potential for executing highly beneficial deals because the companies can consolidate with other chemical firms. Two recent examples of this trend are the eventual acquisition of Rohm and Haas by Dow Chemical as well as Ashland's purchase of Hercules, Inc. Other chemical industry companies are expected to follow Dow and Ashland's lead and seek merger partners while the industry is ripe.

Source

Tags: Private equity chemical, private equity chemicals, chemical mergers and acquistions, mergers and acquisitions, private equity activity, private equity M and A, private chemical

Link to This Resource: Private Equity Chemical

http://privateequityblogger.com/2009/01/private-equity-chemical.html

Private Equity Fund Administration Services

Fund Administration

Private Equity Fund Administration

In an effort to began building up a comprehensive service provider directory on http://PrivateEquityBlogger.com please see the start of our list of established private equity fund administration firms:


Apex Fund Services Ltd is a global hedge fund administration solution for hedge funds, fund of funds and private equity clients located in 10 separate jurisdictions across the world. The company uses the software solution, PFS PAXUS, a fully integrated hedge fund accounting system combined with web-based reporting providing access to information 24/7 securely online. Highly qualified and experienced staff, mirrored with top tier technology and competitive fee structures make Apex Fund Services Ltd the clear choice for your fund administration needs. Please contact John Bohan the Group Operations Manager at 353 21 46 333 66 or john@apexfunds.ie for a demonstration of our capabilities and free quotation. http://www.ApexFundServices.com



Tags: Private Equity Fund Administration, Private Equity Fund Administration Firms, Fund Administration Services, Fund Administration, New York Fund Administration

Link to This Resource: Private Equity Fund Administration Services

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Private Equity Europe

Private Equity Europe | Geographic Distribution

Private Equity Info has supplied some helpful data on the geographic distribution of private equity. Previously, I had shown the geographic distribution within the United States (for that post, follow this link).

The following chart reveals the geographic distribution of private equity in Europe. The highest concentration of private equity activity, measured either by private equity firms or portfolio companies, is in the United Kingdom, France and Germany. Interestingly, the top ten countries are the same in either category--firm or portfolio company--only rearranged. Here is the list of private equity distribution by European country:

Private Equity Firms				Portfolio Companies
	Country	% of total			Country	% of total		2007 GDP (millions USD)
1	United .Kingdom	31.1%		1	United Kingdom	25.6%		2,804,437
2	Germany	12.7%		2	France	14.8%		2,593,779
3	France	12.2%		3	Germany	11.9%		3,320,913
4	Spain	5.7%		4	Netherlands	7.1%		777,241
5	Sweden	5.7%		5	Sweden	6.6%		454,839
6	Italy	4.9%		6	Finland	5.5%		246,350
7	Netherlands	4.6%		7	Italy	4.5%		2,104,666
8	Belgium	4.3%		8	Spain	4.3%		1,439,983
9	Finland	3.8%		9	Belgium	3.9%		453,283
10	Norway	3.0%		10	Norway	2.7%		389,457

Source: Private Equity Info

Tags: Private equity info, private equity, private equity distribution, private equity world, private equity data, private equity statistics, private equity Europe, private equity United Kingdom

Link to This Resource: Private Equity Europe

http://privateequityblogger.com/2009/01/private-equity-europe.html

CVC Capital Partners

CVC Capital Partners Succeeds in Raising Capital

A brief story of optimism in the private equity market is that of CVC Capital Partners. The private equity firm is noted in the Wall Street Journal for its ability to raise capital while many private equity firms are struggling.

For CVC Capital Partners, finding private investors is not easy but not impossible. Despite the economic hurdles that make fundraising so difficult lately, the European-based firm managed to pull in more than $14 billion in its latest round of raising capital. The most impressive part of CVC's success in raising investments for the sizable fund, its fifth, is that all the capital was raised in less than a year--after the biggest financial troubles emerged.

After such an impressive round of fundraising, CVC Capital must now look at where to invest the capital raised. This task is exceedingly difficult for CVC, and other private equity firms due to the reluctance of banks to lend debt to finance major deals. However, CVC Chairman Michael Smith is confidant in the fund saying that it is large enough to finance big deals without the help of leverage. Other funds are not so large and are encountering considerable difficulty in the current economic climate. Mr. Smith says of the new fund "It's about investing in companies for the future and endeavoring to improve them."

If you are looking for contact details on CVC Capital Partners please see PrivateEquityDirectory.com  

Tags: CVC Capital, CVC Capital Partner, CVC Capital Partners, CVC Capital Partners Fund, Private Equity Fund, Private Equity Tracker Tool, Private Equity Funds, Private equity firms

Link to This Resource: CVC Capital Partners

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Certified Hedge Fund Professional

Interview with Founder of the CHP Program

As I have previously written, the hedge fund industry and private equity have a lot of similarities and some important differences (for more information on this, see Private Equity and Hedge Funds). Richard Wilson, who also runs a very successful blog on hedge funds, founded the CHP program last year to educate people within the hedge fund industry and especially those hoping to enter it. I have conducted a brief interview with Richard discussing the Certified Hedge Fund Professional designation:

What is the Certified Hedge Fund Professional (CHP) program?

Richard: The CHP Designation program is an online hedge fund certification program sponsored by the Hedge Fund Group (HFG) starting in 2008.

The CHP Designation is a two part program. Level 1 helps participants gain a comprehensive base level of knowledge about the hedge fund industry. Level 2 allows participants to specialize within a niche area of the industry such as marketing and sales, due diligence or analytics.

What do graduates from the CHP program receive, as in what are the benefits from taking the program?

Richard: For a list of the benefits from completing the program please see this page: http://chadesignation.org/CHA-Designation-Benefits.html.

Our program also benefits hedge fund startups and sub $100M hedge fund managers. Here is how: http://chadesignation.org/How-To-Start-A-Hedge-Fund-Startup-Benefits.html

How is this program connected to the Hedge Fund Group (HFG) and who decides what goes on the exam?

Richard: The Hedge Fund Group (HFG) sponsors the CHP Designation and created it in 2008. There is a team of 5 professionals who have developed and maintain the designation and they are aided by an advisory board of approximately 55 professionals who work at hedge funds, fund of hedge funds and prime brokerage/auditing firms.

Where are classes held? New York? How much do they cost.

Richard: The CHP Designation is offered 100% online and tuition is $599 or $499 if you register within the first 24 hours of registration opening. The program and exam may be taken from anywhere in the world as long as the individual has a reliable internet connection. Last year we had participants from Hong Kong, UK, US, Canada, India and China.

So the CHP Designation program is really international and not based within the Manhattan or any one location for that matter?

Richard: Yes that is correct.

How well-known is the program? Have mainstream media outlets interviewed your team?

Richard: To some extent we have been covered. We have not graced the cover of the WSJ or any large American newspaper but we have been picked up by the Financial Times, Alpha Magazine, Institutional Investor and Job Search Digest. Most of these stories were ran in interview form. The Financial Times was the most thorough, we spent over 4 hours speaking with them and that doesn’t count their inquiries to actual participants within the program as well.

Is there anything else you want to mention here before we end this interview?

Richard: We have much more information on our website: http://chadesignation.org/.

If you would like to contact Richard Wilson to find out more about the CHP Designation or to sign up for the program, you can send him an e-mail to Richard@Hedgefundgroup.org


Tags: private equity hedge funds, private equity and hedge funds, hedge fund designation, Certified Hedge fund professional, CHP Richard Wilson, Richard Wilson hedge fund interview, CHP

Link to This Resource: Certified Hedge Fund Professional

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Family Office List | Lists of Single and Multi Family Office Contacts

Family Office List

List of Single and Multi Family Offices

Looking for a list of family office contacts?

Please complete the form below and a professional from the FamilyOfficesGroup.com will be in touch shortly.





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Permanent Link: Family Office List
Tags: Family Office List,Family Office Lists,Family Offices List, Lists of Family Offices, List of Family Offices, Family Office List, Multi-Family Office list, single family office list

Link to This Resource: Family Office List | Lists of Single and Multi Family Office Contacts

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Private Equity Assets

Private Equity Asset Prices Fall

The price that private equity assets are selling for in the secondary market has dropped, according to three years of data in a report by Cogent Partners.

The average percent of net asset value (NAV) fell significantly in 2008, from an average of 84.7% in the first half of 2008 to a 61% average of NAV in the second half. This is a sharp departure from the peak in 2006-07 where assets traded above net asset value. Cogent commented that the current report is the lowest private equity asset prices since 2005, when the firm started recording asset prices.

The private equity secondary market has been booming compared to the leveraged buyout market which has been largely inactive following the credit crisis. Many large private investors use the private equity secondary market to trade investments and capital committments to private equity funds. Private investors have used this market to dump private equity assets in an attempt to limit the investor's exposure.

Interestingly, Cogent reports a significant difference between the figures reported by private equity funds to investors and the prices given on the secondaries market. The report reveals, "Prices in the secondary market are at a 40 percent discount to the values reported by private equity funds." This is consistent with other articles commenting on the way private equity funds often seem to have an unrealistic view of their investments.

Source


Tags: Private equity, private equity insight, private equity assets, private equity asset, private equity asset valuation, private equity valuing, private equity valuation, private equity prices

Link to This Resource: Private Equity Assets

http://privateequityblogger.com/2009/01/private-equity-assets.html

Private Equity 2009

Will Private Equity Comeback in 2009?

It has been a tough year for private equity, for example last weeks report that deals have fallen to a five year low, and in the first week of the new year I am sure many are wondering when private equity activity will return? BloggingBuyouts offers some thoughts on this coming year for private equity:

The number of bad deals of the past few years has led to a growth in "loan to own" deals: vulture private equity firms that lend money to companies struggling under the weight of earlier buyouts with the goal of gaining control over the equity.

The Wall Street Journal reports (subscription required) that buyout flops like Real Mex Restaurants and Bally Fitness are finding themselves under the ownership of new private equity firms after the original deals go south.

But 2009 could also represent a comeback for private equity in the traditional sense if credit markets loosen up. Interest rates are at historic lows and the stock market has taken a pounding leaving a number of profitable companies trading at valuations that make them extremely attractive takeover targets.

If the credit markets return to normal levels of activity, private equity could be a major catalyst for the market's rebound over the next few years by taking private many of the undervalued companies that are driving the market down.

Source

Tags: Private Equity predictions, private equity advice, private equity blogs, private equity bloggingbuyouts, private equity 2009, 2009 private equity predictions, new years private equity

Link to This Resource: Private Equity 2009

http://privateequityblogger.com/2009/01/private-equity-2009.html

New Years Resolutions

Private Equity Blogger: New Years Resolutions

Although it has obviously been a tough year for private equity and the economy in general, it has been an exciting year for Private Equity Blogger. This blog has vastly exceeded many of my goals in expanding readership to more than 1,000 pageviews each day, writing hundreds of articles and making lots of great contacts. Richard Wilson has a great tradition at his blog and I'd like to start the new year by making some resolutions:

Private Equity Blogger 2009 New Years Resolutions

1. Writing more than 100 educational articles especially focused on finding a position with a private equity firm, raising capital and attracting private investors, operational due diligence strategies and selecting various private equity service providers.
2. Begin using alternative media for posts like original videos, audio interviews and hopefully a private equity "webinar."
   
3. Include more articles by knowledgeable private equity industry veterans. This is in line with my hope to further provide information to those new to private equity and considering working in the industry.
4. Expanding this blog's up-to-date coverage on the big and small events impacting the industry.
5. At least doubling visits to this blog from 1,000 to 2,000 daily pageviews and increasing subscribers to the Private Equity Blogger feed.
   

I'd like to say thank you for all the readers who have supported this blog as well as the private equity professionals and firms who have contributed their knowledge and experience. And of course, I wish everyone a happy new year.


Tags: Private Equity 2009, private equity industry, private equity, private equity future, private equity blogger, private equity industry, private equity 2009 year, new years resolutions

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