Private markets attract a considerable amount of attention and enthusiasm for their performance, diversification effects, and growth of assets under management. Among the different strategies, private equity capitalises on new technologies and trends (venture capital), fast growth companies (growth capital), repositioning of assets and strategic evolutions (leveraged buyouts). Private debt aims at providing investors a differentiated exposure to yield (senior/direct lending), possibly including capital gains (mezzanine debt) and to company restructuring (distressed debt, loan-to-own). Private real assets (private real estate, private infrastructure, timber, natural resources) offer different combinations of yield capital gains, inflation protection and downside protection. All these strategies share common traits, such as the use of equity and debt instruments, over a rather long duration, with active involvement of fund managers and negotiation of specific rights, usually to support high risk/high return projects.
This masterclass provides delegates with a comprehensive understanding of private markets. It will:
Attendees will see private markets from the standpoint of both:
The course will combine dynamically presentations, ateliers, business cases, role playing and interactive Q&A sessions. Active participation is encouraged, and practical exercises will be used.
How does private markets operate? Asset allocation, instruments, strategies
Introduction
The three dimensions of private markets investing
Asset allocation and private markets
Private market funds: functioning and selection
Q&A and wrap-up
How to convince investors and keep them happy? Fund raising and structuring, investors relations
Who are the investors and how do they think
Fund raising: a permanent process
Role playing game: the case of a mid-market BO fund raising
Communicating: reporting, AGM and other channels
Q&A and wrap-up
Investing: Funds, funds-of-funds, mandates, co-investments
Setting the right environment
Selecting funds and funds managers
Negotiating
The temptation of co-investing
Q&A and wrap-up
Investing in private companies: sourcing, analysing, negotiating, creating value and exiting
Investment framework
Analysing a deal: the case of a mid-market cleaning company I
Analysing a deal: the case of a mid-market cleaning company II
The deal and post-investment activities
Q&A and wrap-up
Learning by doing: business cases day
Participants are expected to read business cases prior to the session. They will form groups and present their conclusions.
Venture capital
Growth capital (1:30): TA Associates and Metro PCS (US)
Distressed debt (1:30): Countrywide PLC (UK)
LBO and Public-to-Private (1:30): Qantas (Australia)
Q&A and wrap-up
4.75/5 rating on course check for service
25,000 professionals trained across public courses
99 countries where training is delivered
The cost of this course may vary by location. See above or request information for prices.
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