Course description
Private Equity Investment
- Understand what is meant by private equity and why it is becoming increasingly important
- Understand the structure and strategies of private equity funds
- Know which equity products should be used when structuring a transaction to maximise returns / minimise downside
- Have a practical knowledge of every stage of the investment process, from deal origination through to exit
- Be able to detect accounting tricks and conduct sector analysis
- Be familiar with key terminology specific to the sector
Upcoming start dates
Training content
Introduction
Segmentation and definition
private equity strategies
venture capital
growth equity
leverage buy out
Market
size
growth
Market participants
investors
funds
Fundamentals
Closed end funds
partnership structures (general partner, limited partners)
economics (management fee, hurdle rate, carried interest)
cash flows and J curve
financial returns
Equity products
ordinary shares
preferred shares
convertibles
other equity instruments (warrants, shareholder loans, etc)
Due Diligence
- Business due diligence
- macro factors
- industry analysis
- Porter’s 5 Forces Model
- structure of a sector
- cyclicity and seasonality
- company analysis
- company positioning and strategy
- competitor’s analysis
- strategic analysis of a business plan
- Accounting due diligence
- quality of earnings
- ratio analysis
- cash flow analysis
- creative accounting
Business Plan
- Profit & loss
- Balance sheet
- Cash flow
Valuation
- Discounted cash flow
- Adjusted present value
- Multiples
- Modelling example
Private Equity
- Growth equity
- differences between venture capital, growth equity and leverage buy out
- instruments
- key concepts
- pre money vs post money valuation
- capitalisation table
- dilution and equity stake calculation
- antidilution provisions
- structuring for exit
- redemption
- the growth capital method
- put and call options
- Leverage Buy Out
- key concepts
- typical LBO candidate
- step by step construction of a LBO
- a typical capital structure of an LBO
- differences between LBO and recapitalisation
- value creation in LBOs
- key concepts
- LBO analysis
- back of the envelope LBO analysis
- LBO model in a nutshell
- returns
- Monitoring, value creation and exit overview
- monitoring
- value creation
- exit
- IPO
- trade sale
- secondary/tertiary sale to financial buyers
Legal Documentation
- Confidentiality agreement (or non-disclosure agreement)
- Letter of intent
- Term sheet
- Private equity legal documentation
- constitutional documents
- memorandum (or deed) of incorporation
- articles of associations or by-laws
- share purchase & investment agreement
- investment agreement
- the shareholders’ agreement
Costs
- London course fee: £2199.00 + VAT @ 20% = £2638.80
- Online course fee: £1799 + VAT if applicable
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International Faculty of Finance - IFF Finance & IFE Energy - Specialist Training Courses
As one of the world's leading specialist financial training organisations, The International Faculty of Finance, provides participants in the global financial markets with intensive technical training programmes designed to help them succeed on the global stage. Established in 1991 we...