• Funding the Acquisition: The Nuts and Bolts of Debt Financing

    featuring Steve Groya, Aldine Capital Partners

    published: 21 Jul 2016
  • Interview with Andrew Heinrich, Director of Acquisitions, Strategic Venture Fund, HK

    Interview with Andrew Heinrich, Director of Acquisitions, Strategic Venture Fund, HK at Mining Investment China

    published: 27 Oct 2017
  • Acquisitions with shares | Stocks and bonds | Finance & Capital Markets | Khan Academy

    Mechanics of a share-based acquisition. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/stock-and-bonds/mergers-acquisitions/v/price-behavior-after-announced-acquisition?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/stock-and-bonds/dilution-tutorial/v/stock-dilution?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: Companies often buy or merge with other companies using shares (which is sometimes less intuitive than when they use cash). This tutorial walks through the mechanics of how this happens and details what is likely to happen in ...

    published: 12 May 2011
  • Raising bank finance to fund acquisitions

    Michael describes how Morgan Cradock helped two clients to raise capital. The first being ATSA that tripled group revenues with an acquisition and bank finance. The second being GPV Property that secured $1.5m in equity capital in 30 days.

    published: 12 Feb 2012
  • Hedge Fund Merger Arbitrage Strategy - Speculating on Pending Mergers/Acquisitions Part 3 🙋

    Hedge Fund Strategy: Mergers & Takeovers Arbitrage. http://www.financial-spread-betting.com/Spread-trading-faqs.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! Hedge funds trading strategies - hedge funds will implement specific strategies and bolt them into each individual fund they have and one of the things they do is merger arbitrage. Merger Arbitrage Strategy Explained. This is basically trading in companies involved in pending mergers/acquisitions The way I understand it is that when a company X bids to acquire another company Y the price of x will typically trade at a discount to the offered price because it is not certain that the deal will go thru. A hedge fund will calculate their risk:reward and may decide to buy company X because they believe there is a high chan...

    published: 12 Jan 2018
  • 10. Review: Private Equity, Direct Investing, Fund Investing, Co-investing and Secondary Investing

    Review: Private Equity, Direct Investing, Fund Investing, Co-investing and Secondary Investing Investors can invest in private equity in four different ways: Directly, funds, co-investments and secondaries. Direct investing is when an investor directly invests in private companies. It could be buying the entire company or a minority investment. Fund investing is when an investor goes to a private equity fund and the private equity fund buys companies on the investor’s behalf. Co-investing is the most complicated option. For example, an investor invests $50 million in a private equity fund with co-investment rights, meaning that when the fund looks for opportunities it can allow the investor to participate not only through the fund, but directly as well. An example of this would be w...

    published: 07 Jun 2016
  • Price behavior after announced acquisition | Finance & Capital Markets | Khan Academy

    Stock Price Behavior After Announced Acquisition with Shares. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/stock-and-bonds/mergers-acquisitions/v/simple-merger-arb-with-share-acquisition?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/stock-and-bonds/mergers-acquisitions/v/acquisitions-with-shares?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: Companies often buy or merge with other companies using shares (which is sometimes less intuitive than when they use cash). This tutorial walks through the mechanics of how this happens a...

    published: 12 May 2011
  • Tristan Walker: ‘No one wants to fund e-commerce companies anymore’ | Code Commerce 2017

    When Tristan Walker decided to raise venture capital money for his new startup, a health and beauty company that makes products for people of color, the fact that he was running a tech company — not a retail company — was key. “When I started, I said we’re a tech company. That’s bullshit,” Walker said at Recode’s Code Commerce conference in Las Vegas. “If you go to any kind of venture capital firm on Sand Hill Road and you say you want to build a retail business, you’re not going to raise any money. So to say that you’re a direct-to-consumer e-commerce business focused on subscriptions ... it allows us to really talk about how we kind of focused on tech.” That strategy worked. Walker’s startup, Walker & Company, has raised $33 million from well-known VC firms like Andreessen Horowitz and...

    published: 22 Mar 2017
  • LBO Model - Add-On Acquisitions (Dell Case Study)

    In this tutorial, we walk through Silver Lake's $24 billion leveraged buyout of Dell and explain the tasks you might have to complete if you were to analyze this deal as part of a case study in a private equity interview. By http://www.mergersandinquisitions.com/ "Discover How To Break Into Investment Banking or Private Equity, The Easy Way" In Part 4 of the case study, we walk you through how to find information to make the appropriate assumptions for potential post-buyout add-on acquisitions after the initial leveraged buyout closes, and why some of our sources contradict each other on the numbers. Then, we show you how to reflect the 2 add-on acquisitions on the Income Statement, Balance Sheet, Cash Flow Statement, and Debt Schedules, and how to make the appropriate purchase price all...

    published: 04 Sep 2013
  • 3. Who Invests in Private Equity

    Who invests in private equity? Investors in private equity are institutions and individuals. Institutions are defined as pension funds, endowments, and foundations. Currently (2016) individuals are comprised of family offices and select high net worth individuals. In the future, more and more people are going to be investing in private equity. In August 2015, Private Equity International compiled a list of the biggest investors in private equity. The list includes four categories of investors which include direct investors, fund investors, as well as investors that invest in co-investments and secondary investments. Direct investing is when an investor directly invests in private companies. It could be buying the entire company or a minority investment. Fund investing is when an in...

    published: 07 Jun 2016
  • Jason Lenga - Capitalising on unique acquisition opportunities and corporate strategy.

    Subscribe to the channel to watch all new videos as soon as they come out. Get your digital pass at https://www.startcon.com/ to see exclusive content from StartCon! ------------------------------------- As Head of Asia for multi-billion dollar hedge fund Tiger Global Jason will speak at length about the exciting acquisition opportunities he sees everyday and how your business can emulate the same excitement for other investors. Tiger global houses long-term investments in Facebook, Apple, Google and Linkedin. Previous to Tiger, Jason Lenga served as Managing Director of SEEK International responsible for identifying and capitalising on acquisition opportunities.

    published: 15 Feb 2018
  • Trifon Says IPO to Fund New Technolgy Acquisitions: Video

    Aug. 11 (Bloomberg) -- Gal Trifon, chief executive officer for MediaMind Technologies Inc., talks about the company's initial public offering and growth strategy. Trifon speaks with Margaret Brennan on Bloomberg Television's "InBusiness." (Source: Bloomberg)

    published: 23 Mar 2012
  • Porta Communications CEO would not consider placing to fund acquisitions at current share price

    “Until we can get a share price that recognises what we’re doing and how we’re outperforming the market, I do not see it as an opportunity of raising equity in the market.” Those are the comments of David Wright, the chief executive of Porta Communications (LON:PTCM), who says that while there are acquisition targets out there, the PR and communications group “would have to be a bit more creative how we get our money”.

    published: 11 Feb 2015
  • CMA discusses financials and new acquisitions

    28 Jun 2016 - Centuria Metropolitan REIT (ASX:CMA) CEO and General Manager, Nicholas Collishaw discusses the company's half-year results and the proposed acquisition of GPT Metro Office Fund (ASX:GMF).

    published: 28 Jun 2016
  • John Paulson on his Merger and Acquisitions investing techniques

    A rare interview with John Paulson in which he discusses how he uses mergers and acquisition to make money , giving his 3 ways to make money in merges and acquisition and his view on past deals. Interview date :2014 John Paulson 2015 net worth : 11.3 billion dollars For More Investing/Entrepreneur/Economics Videos Check Out The Channel What is Investors Archive ? = Its a Youtube Channel dedicated to having all the best Interviews/ Biography/ educational / courses on Investing/Entrepreneur/Economics so you can find all the free knowledge you need in one place ! Remember to Sub for all the Best New Content

    published: 06 Dec 2015
  • Kotak Mahindra may use SMBC stake sale proceeds to fund acquisitions

    Kotak Mahindra Bank has said Japan's Sumitomo Mitsui Banking Corp will acquire 4.5 per cent stake, worth Rs 1,366 crore in the bank. Post the stake sale, the market is abuzz with Kotak Mahindra Bank scouting for possible targets in the domestic market.

    published: 01 Jul 2010
  • Hedge fund strategies: Merger arbitrage 1 | Finance & Capital Markets | Khan Academy

    Simple case of merger arbitrage when there is an all cash acquisition. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/investment-vehicles-tutorial/investment-consumption/v/risk-and-reward-introduction?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/investment-vehicles-tutorial/hedge-funds/v/hedge-fund-strategies-long-short-2?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: Hedge funds have absolutely nothing to do with shrubbery. Their name comes from the fact that early hedge funds (and some current ones) tried to "hedge" their exposure...

    published: 11 May 2011
  • Merger Model: Cash, Debt, and Stock Mix

    In this merger model lesson, you'll learn how a company might decide what mix of cash, debt, and stock it might use to fund... By http://breakingintowallstreet.com/ "Financial Modeling Training And Career Resources For Aspiring Investment Bankers" ... might use to fund a merger or an acquisition - and you'll understand how to determine the appropriate amount of each one in a deal. 2:24 General Order of Funding for M&A Deals 4:49 Cash - How Much Can You Use? 9:56 Debt - How Much Can You Use? 14:08 Stock - How Much Can You Use? 16:32 Exceptions 18:03 Recap and Summary How Do You Determine the Cash / Stock / Debt Mix in an M&A Deal? Very common interview question, and you also need to know it for what you do on the job. 3 ways to fund a company, and to fund acquisitions of other companies...

    published: 21 Oct 2014
  • How SEBI’s scheme merger impacts your investments - Brief

    Confused while picking a fund from over 2,000 currently on offer? SEBI’s recent changes to fund classifications are likely to trigger merger of similar schemes and make your choice simpler. But it may have implications for your existing investments.

    published: 28 Dec 2017
  • Asset stripping can help fund acquisitions

    Buying a Business 12: You can strip unneeded assets out of both the acquirer and target firms to pay for acquisitions and streamline the businesses.

    published: 30 Jun 2008
  • The Staffordshire Hoard | Transforming Collections (Episode 1)

    Marking 40 years of Art Fund's partnership with the Wolfson Foundation, 'Transforming Collections' profiles four key acquisitions made possible through our joint funding. The first episode uncovers the incredible Staffordshire Hoard, acquired in 2010, after our a national campaign to raise the £3.3m needed to save this awe-inspiring find of Anglo-Saxon treasure for Birmingham Museum & Art Gallery and the Potteries Museum & Art Gallery in Stoke-on-Trent.

    published: 31 Jan 2018
  • Basic leveraged buyout (LBO) | Stocks and bonds | Finance & Capital Markets | Khan Academy

    The mechanics of a simple leveraged buy-out. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/stock-and-bonds/bonds-tutorial/v/corpora...

    published: 12 May 2011
  • Berkshire Hathaway’s Biggest Acquisitions | Forbes

    As Warren Buffett’s company announces its $32.3 billion buy of Precision Castparts, Forbes looks at Berkshire’s top 5 largest acquisitions to date. Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1 Stay Connected Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbesvideo Forbes Video on Instagram: http://instagram.com/forbesvideo More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

    published: 10 Aug 2015
  • Value-Added Real Estate Private Equity Case Study

    In this Value-Added Real Estate Private Equity Case Study tutorial video, you'll learn what to expect in real estate private equity case studies and you'll get an example of a real value-added RE PE case study with the solution file and a walk-through of the key points. Please get all the files and the textual description and explanation here: http://www.mergersandinquisitions.com/value-added-real-estate-private-equity-case-study/ Table of Contents: 2:41 Part 1: The Types of RE PE Case Studies 5:19 Part 2: This Case Study and What Makes It Tricky 12:40 Part 3: Why Excel is Horrible for This Case Study 16:59 The Scenarios in This Model 17:51 Part 4: The Property Model and Returns Analysis 26:39 Part 5: The Investment Recommendation 28:37 Recap and Summary Part 1: The Types of RE ...

    published: 30 Sep 2015
developed with YouTube
Funding the Acquisition: The Nuts and Bolts of Debt Financing

Funding the Acquisition: The Nuts and Bolts of Debt Financing

  • Order:
  • Duration: 27:30
  • Updated: 21 Jul 2016
  • views: 1866
videos
featuring Steve Groya, Aldine Capital Partners
https://wn.com/Funding_The_Acquisition_The_Nuts_And_Bolts_Of_Debt_Financing
Interview with Andrew Heinrich, Director of Acquisitions, Strategic Venture Fund, HK

Interview with Andrew Heinrich, Director of Acquisitions, Strategic Venture Fund, HK

  • Order:
  • Duration: 2:48
  • Updated: 27 Oct 2017
  • views: 18
videos
Interview with Andrew Heinrich, Director of Acquisitions, Strategic Venture Fund, HK at Mining Investment China
https://wn.com/Interview_With_Andrew_Heinrich,_Director_Of_Acquisitions,_Strategic_Venture_Fund,_Hk
Acquisitions with shares | Stocks and bonds | Finance & Capital Markets | Khan Academy

Acquisitions with shares | Stocks and bonds | Finance & Capital Markets | Khan Academy

  • Order:
  • Duration: 3:47
  • Updated: 12 May 2011
  • views: 57885
videos
Mechanics of a share-based acquisition. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/stock-and-bonds/mergers-acquisitions/v/price-behavior-after-announced-acquisition?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/stock-and-bonds/dilution-tutorial/v/stock-dilution?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: Companies often buy or merge with other companies using shares (which is sometimes less intuitive than when they use cash). This tutorial walks through the mechanics of how this happens and details what is likely to happen in the public markets because of the transaction (including opportunities for arbitrage). About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy’s Finance and Capital Markets channel: https://www.youtube.com/channel/UCQ1Rt02HirUvBK2D2-ZO_2g?sub_confirmation=1 Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
https://wn.com/Acquisitions_With_Shares_|_Stocks_And_Bonds_|_Finance_Capital_Markets_|_Khan_Academy
Raising bank finance to fund acquisitions

Raising bank finance to fund acquisitions

  • Order:
  • Duration: 2:26
  • Updated: 12 Feb 2012
  • views: 103
videos
Michael describes how Morgan Cradock helped two clients to raise capital. The first being ATSA that tripled group revenues with an acquisition and bank finance. The second being GPV Property that secured $1.5m in equity capital in 30 days.
https://wn.com/Raising_Bank_Finance_To_Fund_Acquisitions
Hedge Fund Merger Arbitrage Strategy - Speculating on Pending Mergers/Acquisitions Part 3 🙋

Hedge Fund Merger Arbitrage Strategy - Speculating on Pending Mergers/Acquisitions Part 3 🙋

  • Order:
  • Duration: 7:30
  • Updated: 12 Jan 2018
  • views: 258
videos
Hedge Fund Strategy: Mergers & Takeovers Arbitrage. http://www.financial-spread-betting.com/Spread-trading-faqs.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! Hedge funds trading strategies - hedge funds will implement specific strategies and bolt them into each individual fund they have and one of the things they do is merger arbitrage. Merger Arbitrage Strategy Explained. This is basically trading in companies involved in pending mergers/acquisitions The way I understand it is that when a company X bids to acquire another company Y the price of x will typically trade at a discount to the offered price because it is not certain that the deal will go thru. A hedge fund will calculate their risk:reward and may decide to buy company X because they believe there is a high chance of the bid succeeding. Very occasionally it will open at a higher price than the offered price and this is because the market believe that the initial bid will be refused and company Y will then offer a higher price offer. Hedge Fund Strategies Series (3 Parts) Hedge Fund Strategies, Short Only Hedge Fund Strategy - How Hedge Funds Invest Capital Part 1 🙋 https://www.youtube.com/watch?v=xiTKiVKcL3g Long/Short Equity Hedge Fund Strategy - 130/30 Strategy Explained Part 2 🙋 https://www.youtube.com/watch?v=ElGNbOUxjpQ Hedge Fund Merger Arbitrage Strategy - Speculating on Pending Mergers/Acquisitions Part 3 🙋 https://www.youtube.com/watch?v=zgYEHB93ri4
https://wn.com/Hedge_Fund_Merger_Arbitrage_Strategy_Speculating_On_Pending_Mergers_Acquisitions_Part_3_🙋
10. Review: Private Equity, Direct Investing, Fund Investing, Co-investing and Secondary Investing

10. Review: Private Equity, Direct Investing, Fund Investing, Co-investing and Secondary Investing

  • Order:
  • Duration: 3:50
  • Updated: 07 Jun 2016
  • views: 3420
videos
Review: Private Equity, Direct Investing, Fund Investing, Co-investing and Secondary Investing Investors can invest in private equity in four different ways: Directly, funds, co-investments and secondaries. Direct investing is when an investor directly invests in private companies. It could be buying the entire company or a minority investment. Fund investing is when an investor goes to a private equity fund and the private equity fund buys companies on the investor’s behalf. Co-investing is the most complicated option. For example, an investor invests $50 million in a private equity fund with co-investment rights, meaning that when the fund looks for opportunities it can allow the investor to participate not only through the fund, but directly as well. An example of this would be when a fund is looking at investment in a $40 million company. That investment needs $30 million equity and $10 million in debt. The equity portion given by the fund (without co-investing) would be $30 million dollars. In the case of co-investing, the fund gives $20 million (in which the investor is participating through the fund) with the remaining $10 million (i.e. The difference between the $20 million in equity given by the fund and the $30 million equity needed) is offered to the investor to do on a direct basis resulting in the fund investing $20 million and the investor investing $10 million. When investors invest into a fund, they pay full fees, typically paying a 2% management fee and a 20% performance fee (i.e. “two and twenty”). By investing $10 million directly, other than a small deal origination fee, investors are able to reduce their overall fees. (For more on fees see Video #4). The fourth way to invest in private equity is through secondaries. In this example our investor makes a commitment to invest $50 million in a private equity fund by giving about $10 to $20 million dollars to the private equity fund up front for the first two fund investments. As more acquisitions are made, the private equity fund makes capital calls to the investor. The investor is usually locked into the private equity fund for seven to ten years (or longer). If the investor wants out of this agreement, the commitment can be sold to other investors. The sale can be of the entire commitment (which would include the existing deals that the private equity fund was already made, plus future capital calls) or it can be done through a structured secondary (selling different parts) where the investor may want to keep the existing investments and just sell the future commitments. As easy as an investor can sell a secondary, it can buy one as well.
https://wn.com/10._Review_Private_Equity,_Direct_Investing,_Fund_Investing,_Co_Investing_And_Secondary_Investing
Price behavior after announced acquisition | Finance & Capital Markets | Khan Academy

Price behavior after announced acquisition | Finance & Capital Markets | Khan Academy

  • Order:
  • Duration: 4:04
  • Updated: 12 May 2011
  • views: 48569
videos
Stock Price Behavior After Announced Acquisition with Shares. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/stock-and-bonds/mergers-acquisitions/v/simple-merger-arb-with-share-acquisition?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/stock-and-bonds/mergers-acquisitions/v/acquisitions-with-shares?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: Companies often buy or merge with other companies using shares (which is sometimes less intuitive than when they use cash). This tutorial walks through the mechanics of how this happens and details what is likely to happen in the public markets because of the transaction (including opportunities for arbitrage). About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy’s Finance and Capital Markets channel: https://www.youtube.com/channel/UCQ1Rt02HirUvBK2D2-ZO_2g?sub_confirmation=1 Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
https://wn.com/Price_Behavior_After_Announced_Acquisition_|_Finance_Capital_Markets_|_Khan_Academy
Tristan Walker: ‘No one wants to fund e-commerce companies anymore’ | Code Commerce 2017

Tristan Walker: ‘No one wants to fund e-commerce companies anymore’ | Code Commerce 2017

  • Order:
  • Duration: 38:05
  • Updated: 22 Mar 2017
  • views: 17661
videos
When Tristan Walker decided to raise venture capital money for his new startup, a health and beauty company that makes products for people of color, the fact that he was running a tech company — not a retail company — was key. “When I started, I said we’re a tech company. That’s bullshit,” Walker said at Recode’s Code Commerce conference in Las Vegas. “If you go to any kind of venture capital firm on Sand Hill Road and you say you want to build a retail business, you’re not going to raise any money. So to say that you’re a direct-to-consumer e-commerce business focused on subscriptions ... it allows us to really talk about how we kind of focused on tech.” That strategy worked. Walker’s startup, Walker & Company, has raised $33 million from well-known VC firms like Andreessen Horowitz and Google Ventures; its flagship brand Bevel, a line of razor blades and lotions for people with “coarse and curly hair,” is sold in major retail stores like Target. ------- Subscribe: https://goo.gl/FRleYo Check out our full video catalog: https://goo.gl/JeqE6e Follow Recode on Twitter: https://goo.gl/n4jVhu Follow Recode on Instagram: https://goo.gl/k8KXjH Read more: http://recode.net/
https://wn.com/Tristan_Walker_‘No_One_Wants_To_Fund_E_Commerce_Companies_Anymore’_|_Code_Commerce_2017
LBO Model - Add-On Acquisitions (Dell Case Study)

LBO Model - Add-On Acquisitions (Dell Case Study)

  • Order:
  • Duration: 35:41
  • Updated: 04 Sep 2013
  • views: 6736
videos
In this tutorial, we walk through Silver Lake's $24 billion leveraged buyout of Dell and explain the tasks you might have to complete if you were to analyze this deal as part of a case study in a private equity interview. By http://www.mergersandinquisitions.com/ "Discover How To Break Into Investment Banking or Private Equity, The Easy Way" In Part 4 of the case study, we walk you through how to find information to make the appropriate assumptions for potential post-buyout add-on acquisitions after the initial leveraged buyout closes, and why some of our sources contradict each other on the numbers. Then, we show you how to reflect the 2 add-on acquisitions on the Income Statement, Balance Sheet, Cash Flow Statement, and Debt Schedules, and how to make the appropriate purchase price allocation assumptions and pro-forma Balance Sheet adjustments. Please see the link below to get all the Excel files and PDFs and other resources. http://www.mergersandinquisitions.com/leveraged-buyout-lbo-model-add-on-acquisitions/
https://wn.com/Lbo_Model_Add_On_Acquisitions_(Dell_Case_Study)
3. Who Invests in Private Equity

3. Who Invests in Private Equity

  • Order:
  • Duration: 5:40
  • Updated: 07 Jun 2016
  • views: 5435
videos
Who invests in private equity? Investors in private equity are institutions and individuals. Institutions are defined as pension funds, endowments, and foundations. Currently (2016) individuals are comprised of family offices and select high net worth individuals. In the future, more and more people are going to be investing in private equity. In August 2015, Private Equity International compiled a list of the biggest investors in private equity. The list includes four categories of investors which include direct investors, fund investors, as well as investors that invest in co-investments and secondary investments. Direct investing is when an investor directly invests in private companies. It could be buying the entire company or a minority investment. Fund investing is when an investor goes to a private equity fund and the private equity fund buys companies on the investor’s behalf. Co-investing is the most complicated option. For instance, an investor invests $50 million in a private equity fund with co-investment rights, meaning that when the fund looks for opportunities it can allow the investor to participate not only through the fund, but directly as well. An example of this would be when a fund is looking at investment in a $40 million company. That investment needs $30 million equity and $10 million in debt. The equity portion given by the fund (without co-investing) would be $30 million dollars. In the case of co-investing, the fund gives $20 million (in which the investor is participating through the fund) with the remaining $10 million (i.e. the difference between the $20 million in equity given by the fund and the $30 million equity needed) is offered to the investor to do on a direct basis resulting in the fund investing $20 million and the investor investing $10 million. When investors invest into a fund, they pay full “two and twenty” fees (i.e. typically paying a 2% management fee and a 20% performance fee). By investing $10 million directly, other than a small deal origination fee, investors are able to reduce their overall fees. (For more on fees see the following video). The fourth way to invest in private equity is through secondaries. In this example, our investor makes a commitment to invest $50 million in a private equity fund by giving about $10 to $20 million dollars to the private equity fund up front for the first two fund investments. As more acquisitions are made, the private equity fund makes capital calls to the investor. The investor is usually locked into the private equity fund for seven to ten years (or longer). If the investor wants out of this agreement, the commitment can be sold to other investors. The sale can be of the entire commitment (which would include the existing deals that the private equity fund was already made, plus future capital calls) or it can be done through a structured secondary (selling different parts) where the investor may want to keep the existing investments and just sell the future commitments. As easy as an investor can sell a secondary, it can buy one as well. Returning to the August 2015 list of all the types of investments in private equity compiled by Private Equity International, we see that the Canada Pension Plan Investment Board (CPPIB) tops the list. CPPIB participates in all types of investments including direct, fund investments, co-investments, and secondaries. One of its most notable investments was in Skype. Skype was purchased from eBay in 2009 and sold to Microsoft in 2011. CPPIB had a small portion of that deals. In 2009, CPPIB invested $300 million and in 2011 it received $933 million. Yes, that’s right; CPPIB put in $300 million and received $933 million back in two years. Not too bad! To recap: Investors in private equity are institutions including pensions like CPPIB, endowments, foundations, and individuals. In 2016, individuals are mostly family offices and select high net worth individuals. In the future, more and more people are going to have access to private equity.
https://wn.com/3._Who_Invests_In_Private_Equity
Jason Lenga - Capitalising on unique acquisition opportunities and corporate strategy.

Jason Lenga - Capitalising on unique acquisition opportunities and corporate strategy.

  • Order:
  • Duration: 27:26
  • Updated: 15 Feb 2018
  • views: 1
videos
Subscribe to the channel to watch all new videos as soon as they come out. Get your digital pass at https://www.startcon.com/ to see exclusive content from StartCon! ------------------------------------- As Head of Asia for multi-billion dollar hedge fund Tiger Global Jason will speak at length about the exciting acquisition opportunities he sees everyday and how your business can emulate the same excitement for other investors. Tiger global houses long-term investments in Facebook, Apple, Google and Linkedin. Previous to Tiger, Jason Lenga served as Managing Director of SEEK International responsible for identifying and capitalising on acquisition opportunities.
https://wn.com/Jason_Lenga_Capitalising_On_Unique_Acquisition_Opportunities_And_Corporate_Strategy.
Trifon Says IPO to Fund New Technolgy Acquisitions: Video

Trifon Says IPO to Fund New Technolgy Acquisitions: Video

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  • Duration: 3:07
  • Updated: 23 Mar 2012
  • views: 80
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Aug. 11 (Bloomberg) -- Gal Trifon, chief executive officer for MediaMind Technologies Inc., talks about the company's initial public offering and growth strategy. Trifon speaks with Margaret Brennan on Bloomberg Television's "InBusiness." (Source: Bloomberg)
https://wn.com/Trifon_Says_Ipo_To_Fund_New_Technolgy_Acquisitions_Video
Porta Communications CEO would not consider placing to fund acquisitions at current share price

Porta Communications CEO would not consider placing to fund acquisitions at current share price

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  • Duration: 6:37
  • Updated: 11 Feb 2015
  • views: 207
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“Until we can get a share price that recognises what we’re doing and how we’re outperforming the market, I do not see it as an opportunity of raising equity in the market.” Those are the comments of David Wright, the chief executive of Porta Communications (LON:PTCM), who says that while there are acquisition targets out there, the PR and communications group “would have to be a bit more creative how we get our money”.
https://wn.com/Porta_Communications_Ceo_Would_Not_Consider_Placing_To_Fund_Acquisitions_At_Current_Share_Price
CMA discusses financials and new acquisitions

CMA discusses financials and new acquisitions

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  • Duration: 6:04
  • Updated: 28 Jun 2016
  • views: 33
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28 Jun 2016 - Centuria Metropolitan REIT (ASX:CMA) CEO and General Manager, Nicholas Collishaw discusses the company's half-year results and the proposed acquisition of GPT Metro Office Fund (ASX:GMF).
https://wn.com/Cma_Discusses_Financials_And_New_Acquisitions
John Paulson on his Merger and Acquisitions investing techniques

John Paulson on his Merger and Acquisitions investing techniques

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  • Duration: 30:34
  • Updated: 06 Dec 2015
  • views: 8179
videos
A rare interview with John Paulson in which he discusses how he uses mergers and acquisition to make money , giving his 3 ways to make money in merges and acquisition and his view on past deals. Interview date :2014 John Paulson 2015 net worth : 11.3 billion dollars For More Investing/Entrepreneur/Economics Videos Check Out The Channel What is Investors Archive ? = Its a Youtube Channel dedicated to having all the best Interviews/ Biography/ educational / courses on Investing/Entrepreneur/Economics so you can find all the free knowledge you need in one place ! Remember to Sub for all the Best New Content
https://wn.com/John_Paulson_On_His_Merger_And_Acquisitions_Investing_Techniques
Kotak Mahindra may use SMBC stake sale proceeds to fund acquisitions

Kotak Mahindra may use SMBC stake sale proceeds to fund acquisitions

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  • Duration: 2:37
  • Updated: 01 Jul 2010
  • views: 393
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Kotak Mahindra Bank has said Japan's Sumitomo Mitsui Banking Corp will acquire 4.5 per cent stake, worth Rs 1,366 crore in the bank. Post the stake sale, the market is abuzz with Kotak Mahindra Bank scouting for possible targets in the domestic market.
https://wn.com/Kotak_Mahindra_May_Use_Smbc_Stake_Sale_Proceeds_To_Fund_Acquisitions
Hedge fund strategies: Merger arbitrage 1 | Finance & Capital Markets | Khan Academy

Hedge fund strategies: Merger arbitrage 1 | Finance & Capital Markets | Khan Academy

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  • Duration: 5:02
  • Updated: 11 May 2011
  • views: 92727
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Simple case of merger arbitrage when there is an all cash acquisition. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/investment-vehicles-tutorial/investment-consumption/v/risk-and-reward-introduction?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/investment-vehicles-tutorial/hedge-funds/v/hedge-fund-strategies-long-short-2?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: Hedge funds have absolutely nothing to do with shrubbery. Their name comes from the fact that early hedge funds (and some current ones) tried to "hedge" their exposure to the market (so they could, in theory, do well in an "up" or "down" market as long as they were good at picking the good companies). Today, hedge funds represent a huge class investment funds. They are far less regulated than, say, mutual funds. In exchange for this, they aren't allowed to market or take investments from "unsophisticated" investors. Some use their flexibility to mitigate risk, other use it to amplify it. About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy’s Finance and Capital Markets channel: https://www.youtube.com/channel/UCQ1Rt02HirUvBK2D2-ZO_2g?sub_confirmation=1 Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
https://wn.com/Hedge_Fund_Strategies_Merger_Arbitrage_1_|_Finance_Capital_Markets_|_Khan_Academy
Merger Model: Cash, Debt, and Stock Mix

Merger Model: Cash, Debt, and Stock Mix

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  • Duration: 19:59
  • Updated: 21 Oct 2014
  • views: 22768
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In this merger model lesson, you'll learn how a company might decide what mix of cash, debt, and stock it might use to fund... By http://breakingintowallstreet.com/ "Financial Modeling Training And Career Resources For Aspiring Investment Bankers" ... might use to fund a merger or an acquisition - and you'll understand how to determine the appropriate amount of each one in a deal. 2:24 General Order of Funding for M&A Deals 4:49 Cash - How Much Can You Use? 9:56 Debt - How Much Can You Use? 14:08 Stock - How Much Can You Use? 16:32 Exceptions 18:03 Recap and Summary How Do You Determine the Cash / Stock / Debt Mix in an M&A Deal? Very common interview question, and you also need to know it for what you do on the job. 3 ways to fund a company, and to fund acquisitions of other companies: use cash on-hand, borrow the money from other entities (debt), or issue equity (stock) to new investors. But how does a buyer in an M&A deal decide whether it should use… 50% debt and 50% stock vs. 33% debt, 33% stock, and 33% cash vs. 50% cash and 50% debt vs…. And the list goes on. Easiest: Think about the "cost" of each method, start with the cheapest method, use the most of THAT method that you can, and then move to the next cheapest method, and continue like that. GENERALLY: Cheapest: Cash, since interest rates on cash are lower than interest rates on debt, and tend to be low in general. Next Cheapest: Debt, since it is still cheaper than equity and since interest paid on debt is tax-deductible. Most Expensive: Stock, since the Cost of Equity tends to exceed the Cost of Debt… in theory and in practice. To Compare Them: Look at the "After-Tax Yields"… for debt and cash, just take the Interest Rate and multiply by (1 - Buyer's Tax Rate). Stock: Take the buyer's Net Income and divide by its Equity Value (or "flip" its P / E multiple). SO: Always start with cash, use the most you can, then move to debt, use the most you can, and finish up with stock. Cash - How Much is "The Most You Can?" Easy: Company has minimal cash and can't use anything, or it has a huge cash balance and can use all of it. More Common Case: Look at the company's "minimum" cash balance and use the excess cash above that to fund the deal. EX: Company has $500 million in cash right now, but its minimum cash balance to keep operating is $200 million… So it can use $300 million of its cash to fund the deal. How to Determine: Can be tough, but sometimes companies disclose it… ...or you can look back at historical cash balances and make a guesstimate based on that (what was its lowest cash balance in past years?). Debt - How Much Can You Use? So let's say you've now used $300 million of cash to fund the deal… but it's a deal for $1 billion total. How much debt can you use to fund the remainder? $700 million? $300 million? $500 million? Easiest Method: Calculate the key credit stats and ratios for the combined company - for example: Total Debt / EBITDA Net Debt / EBITDA EBITDA / Interest Expense And see what amount of debt makes these look "reasonable", in line with historical figures and also figures for comparable companies. EX: Let's say that if the company uses $500 million of debt, its Debt / EBITDA is 4x. Historically, it has been around 2-3x, and no peer company is levered at more than 3.5x. If that's the case, we'd say that 3.5x - 4.0x is probably the "maximum" (whatever amount of debt that means). Here: We have the Debt / EBITDA and other ratios for the Men's Wearhouse / Jos. A. Bank peer companies. Stock - Now What? Often used as the "method of last resort" because: A) It tends to be the most expensive method for most companies. B) Most acquirers don't like giving up ownership and diluting existing shareholders unless absolutely necessary. So in this example, if we've used $300 million of cash and $500 million of debt, we're still not quite at $1 billion... need an extra $200 million, which we can get by issuing stock. # of Shares = $200 million / Buyer's Share Price. Technically, there's no real "limit," but it would be very odd for a company to give up more than, say, 50% ownership to another company… unless they're very close in size. Exceptions: Buyer has an exceptionally high P / E multiple (Amazon) - stock might be the cheapest! Buyer wants to do a tax-free deal (Google / YouTube) and it's much bigger anyway, so won't make a difference. Companies are similarly sized - stock might always be necessary because cash/debt are implausible (mergers of equals). Summary Which purchase method do you use? MOST relevant when companies are closer in size… doesn't make much difference when the buyer is 100x or 1000x bigger than the seller. Order: 1. Cash - Any excess cash above the company's minimum cash balance. 2. Debt - To the upper range of the Debt / EBITDA of comparables (and other metrics). 3. Stock - For any remaining funding that's required; ideally give up well under 50% ownership.
https://wn.com/Merger_Model_Cash,_Debt,_And_Stock_Mix
How SEBI’s scheme merger impacts your investments - Brief

How SEBI’s scheme merger impacts your investments - Brief

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  • Duration: 12:40
  • Updated: 28 Dec 2017
  • views: 504
videos
Confused while picking a fund from over 2,000 currently on offer? SEBI’s recent changes to fund classifications are likely to trigger merger of similar schemes and make your choice simpler. But it may have implications for your existing investments.
https://wn.com/How_Sebi’S_Scheme_Merger_Impacts_Your_Investments_Brief
Asset stripping can help fund acquisitions

Asset stripping can help fund acquisitions

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  • Duration: 1:44
  • Updated: 30 Jun 2008
  • views: 407
videos
Buying a Business 12: You can strip unneeded assets out of both the acquirer and target firms to pay for acquisitions and streamline the businesses.
https://wn.com/Asset_Stripping_Can_Help_Fund_Acquisitions
The Staffordshire Hoard | Transforming Collections (Episode 1)

The Staffordshire Hoard | Transforming Collections (Episode 1)

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  • Duration: 4:07
  • Updated: 31 Jan 2018
  • views: 260
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Marking 40 years of Art Fund's partnership with the Wolfson Foundation, 'Transforming Collections' profiles four key acquisitions made possible through our joint funding. The first episode uncovers the incredible Staffordshire Hoard, acquired in 2010, after our a national campaign to raise the £3.3m needed to save this awe-inspiring find of Anglo-Saxon treasure for Birmingham Museum & Art Gallery and the Potteries Museum & Art Gallery in Stoke-on-Trent.
https://wn.com/The_Staffordshire_Hoard_|_Transforming_Collections_(Episode_1)
Basic leveraged buyout (LBO) | Stocks and bonds | Finance & Capital Markets | Khan Academy

Basic leveraged buyout (LBO) | Stocks and bonds | Finance & Capital Markets | Khan Academy

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  • Duration: 5:36
  • Updated: 19 Feb 2018
  • views: 169650
videos
The mechanics of a simple leveraged buy-out. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/stock-and-bonds/bonds-tutorial/v/corpora...
https://wn.com/Basic_Leveraged_Buyout_(Lbo)_|_Stocks_And_Bonds_|_Finance_Capital_Markets_|_Khan_Academy
Berkshire Hathaway’s Biggest Acquisitions | Forbes

Berkshire Hathaway’s Biggest Acquisitions | Forbes

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  • Duration: 0:44
  • Updated: 10 Aug 2015
  • views: 6675
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As Warren Buffett’s company announces its $32.3 billion buy of Precision Castparts, Forbes looks at Berkshire’s top 5 largest acquisitions to date. Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1 Stay Connected Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbesvideo Forbes Video on Instagram: http://instagram.com/forbesvideo More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
https://wn.com/Berkshire_Hathaway’S_Biggest_Acquisitions_|_Forbes
Value-Added Real Estate Private Equity Case Study

Value-Added Real Estate Private Equity Case Study

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  • Duration: 30:19
  • Updated: 30 Sep 2015
  • views: 17837
videos
In this Value-Added Real Estate Private Equity Case Study tutorial video, you'll learn what to expect in real estate private equity case studies and you'll get an example of a real value-added RE PE case study with the solution file and a walk-through of the key points. Please get all the files and the textual description and explanation here: http://www.mergersandinquisitions.com/value-added-real-estate-private-equity-case-study/ Table of Contents: 2:41 Part 1: The Types of RE PE Case Studies 5:19 Part 2: This Case Study and What Makes It Tricky 12:40 Part 3: Why Excel is Horrible for This Case Study 16:59 The Scenarios in This Model 17:51 Part 4: The Property Model and Returns Analysis 26:39 Part 5: The Investment Recommendation 28:37 Recap and Summary Part 1: The Types of RE PE Case Studies The 3 main types are core / core-plus, value-added, and opportunistic. In the first category, the property stays nearly the same over the holding period and the market analysis is more important than a complex model. In the second category, the property changes significantly (more tenants, higher rents, a renovation, etc.) and the models tend to be more complex. The modeling often gets the most complex in the third category because a new property is developed, an existing one is redeveloped, or the building changes massively (e.g., rescuing a distressed property). The complexity also depends on how granular the model is - modeling individual tenants with different lease terms always gets more complicated than a high-level model with average unit sizes, square feet or square meters, etc. Part 2: This Case Study and What Makes It Tricky This case study is less about analyzing the market data, and more about getting all the Excel formulas correct, making the correct calculations, and finishing on time. Since we have information on 13 individual tenants in the building, we NEED to do a more granular analysis and look at each tenant separately. The Excel formulas for free months of rent, TIs and LCs, and other key terms in the leases are somewhat tricky to figure out. Part 3: Why Excel is Horrible for This Case Study The problem here is that there are two scenarios for each existing tenant: they might renew, or they might not renew, when their lease expires. If it's just these two scenarios you can do a reasonable job plotting them out in Excel. But when it goes beyond that - say, 2-year contracts over a 10-year period, resulting in 5 "renewal points" and 2^5 or 32 scenarios - Excel becomes unwieldy for this exercise. You're better off using ARGUS to model this if you have that level of complexity and an entire probability tree. As it stands, our formulas get quite complex here though they are not THAT difficult to understand if you break down the individual components. The Scenarios in This Model The main difference between the three scenarios here is that the occupancy rate stays the same, at 74%, in the Downside Case, whereas it increases to 80% in the Base Case because we find three new tenants, and it increases to 85% in the Upside Case as we find four new tenants. Also, the growth assumptions and the TIs, LCs, and other concessions such as free months of rent differ between the three cases and are most generous in the Upside Case and least generous in the Downside Case. Part 4: The Property Model and Returns Analysis In short, after setting up all the formulas for rent, free months of rent, absorption (the difference between market rent and in-place rent), turnover vacancy (the time between one tenant cancelling and moving out and finding a new one to replace him), and general vacancy, we fill out the rest of the Pro-Forma Model. We include all the operating expenses to determine the property's NOI, and then plot out the debt repayments over time and the interest expense paid on debt. The Acquisition/Exit assumptions and Sources & Uses schedule are all quite straightforward: we assume lower Exit Cap Rates due to the renovation, but there's less of a decline in the Downside Case. In the Returns Analysis, we set up a "waterfall schedule" to split and distribute the returns: up to a 10% IRR is split 80/20 between the LPs and GPs, then between a 10% and 15% IRR it's split 70/30, and then above 15% it's split 60/40. Part 5: The Investment Recommendation We recommend acquiring the property because the numbers work well and meet our targeted IRR and CoC multiple in the Base and Downside cases, the market data is positive, and we believe it's plausible for the occupancy rate and average rents to increase up to the market levels in the area. For the deal NOT to work, something catastrophic would have to happen: rents falling by 25%, the lease renewal rate dropping to 30%, or something in that vein... and we believe there are ways to mitigate against all those risks. http://www.mergersandinquisitions.com/value-added-real-estate-private-equity-case-study/
https://wn.com/Value_Added_Real_Estate_Private_Equity_Case_Study