Course Outline

Session One

Introduction

• Market overview and development
• The private equity cycle
• Key market participants
Examples, cases and exercises to practice the techniques discuss

Session Two

Anatomy of private equity transactions

• • The magic of leveraged finance: how it works
• • Deal valuation
• • Debt capacity and structures; senior, junior, mezzanine finance
• • Different types of transaction: MBO, LBO, de-listing, tender offers

Examples, cases and exercises illustrating different deal types

Session Three

Investment process

• • Deal flow
• • Negotiation and terms
• • Due diligence
• • After care
• • Exit management

Session Four

Portfolio and fund management

• • Typical fund structures
• • Carried interest and performance measurement

Session Five

Conclusion

• • Topical issues facing the industry: consequences of the credit crunch, overhang of unsold debt financing, investment in distressed debt and quoted stocks.

Course Objectives

A one day participative programme which introduces the terminology, basic concepts, business drivers and financial engineering of private equity in the European and US environments, using recent cases examples and practical exercises.

Further Details

Peter Wolf is an independent trainer and consultant working with Taylor Associates Financial Training delivering a range of courses including: Retail products and services - providers and intermediaries; Structure, management and operation of financial institutions; Market practices, industry performance, trends and current issues; UK and international regulation, accounting and reporting; Compliance and risk management and Basel 2 Implementation.

Over the course of a varied career he has most recently specialised in Corporate finance and business transformation of large corporations such as AXA, Royal & Sun Alliance, Wellington Underwriting, Lloyd’s, Willis, Gerrard, Royal Bank of Scotland, Ford Credit, Sun Life of Canada, Chase Bank, Ericsson, Alcatel.