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

    featuring Steve Groya, Aldine Capital Partners

    published: 21 Jul 2016
  • 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
  • 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
  • Purchase Price in M&A Deals: Equity Value or Enterprise Value?

    In this tutorial, you’ll learn why the real price paid by a buyer to acquire a seller in an M&A deal is neither the Purchase Equity Value nor the Purchase Enterprise Value… exactly. http://breakingintowallstreet.com/ "Financial Modeling Training And Career Resources For Aspiring Investment Bankers" Table of Contents: 4:29: Problem #1: The Treatment of Debt 8:03: Problem #2: The Treatment of Cash 11:45: Recap and Summary Common questions: “In an M&A deal, does the buyer pay the Equity Value or the Enterprise Value to acquire the seller?” “What does it mean in press releases when they say the purchase consideration ‘includes the assumption of debt’? Does that mean the price is the Enterprise Value?” The Basic Definitions Equity Value: Value of ALL the company’s assets, but only to...

    published: 10 Mar 2016
  • 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
  • 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
  • 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
  • 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/corporate-debt-versus-traditional-mortgages?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/simple-merger-arb-with-share-acquisition?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: Private equity firms often borrow money (use leverage) to buy companies. This tutorial explains how they do it and pay the debt. About Khan Academy: Khan Academy offers practice exercises, instruc...

    published: 12 May 2011
  • 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
  • Entrepreneurship 360° - Trends and Best Practices in Fund Raising Investments, Acquisitions

    Alberto Onetti, Marco Marinucci (Mind the Bridge Foundation) www.mindthebridge.org

    published: 05 Jun 2014
  • 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
  • Strategic Management: Routes to Entrepreneurship Through Acquisition

    Four entrepreneurs discuss the idea of acquiring a small business as a route to entrepreneurship. The participants took different routes to Entrepreneurship Through Acquisition (ETA): search funds, a self-funded search, and a search sponsored by a private equity fund. Each entrepreneur shares his decision making on the right time to take the path of ETA. Participants: Moderator Peter Kelly; David Kennedy, Sean Callahan, Ciaran Power, and Michael Sanabria. Resources on Search Funds: http://www.gsb.stanford.edu/ces/resources/search_funds.html Center for Entrepreneurial Studies: http://www.gsb.stanford.edu/ces/ Recorded: Oct. 5, 2009 as part of Strategic Management 543 course.

    published: 09 Oct 2009
  • SAP processes- GCPC; Imprest Fund and SF44

    Jennifer explains three of the five simplified acquisition procedures (SAP)- the Government Commercial Purchase Card (GCPC), the use of an imprest fund and the use of the Standard Form (SF) 44.

    published: 02 May 2010
  • Ergomed expanding via earnings-enhancing acquisitions

    Andrew Mackie, chief business officer of Ergomed Plc (LON: ERGO), says the company is looking for more acquisitions principally specialist service companies operating in the post-marketing arena. The pharma services specialist has just bought Haemostatix and its pipeline of topical products to treat surgical bleeding. Mackie is confident the products could get to market quickly and economically, but tells investors there are earlier monetisation moments in terms of deals with licencing partners. Concurrent with this week’s acquisition, Ergomed raised £9 million to assist the development of Haemostatix products and fund bolt on acquisitions to cover geographical holes globally and enhance service delivery.

    published: 05 May 2016
  • Day In the Life of an Intern (Full Video)

    Full Video for the day in the life of an Intern at Fidelity Investments Asset Management Division, Ryan Sepassi. To apply online go to http://www.ifyouonlyknew.com/internshipsUG/overview.html

    published: 30 Dec 2010
  • Mergers and Acquisitions DeMystified - How Deals are Done!

    http://jbdcolley.com/manda This Course is designed to introduce you to how Mergers and Acquisitions work, covering over 120 key points in 45 minutes of video and with some key bonuses to help you. Using the Six Minute Strategist methodology, the course is taught in a structured, clear to understand way. VISIT JBDCOLLEY.COM THE SIX MINUTE STRATEGIST BLOG FOR LOADS MORE BUSINESS STRATEGY CONTENT http://jbdcolley.com SUBSCRIBE TO KEEP UPTO DATE WITH MY VIDEOS http://www.youtube.com/user/jbdcolley SUBSCRIBE TO THE ONLINE LEARNING PODCAST https://itunes.apple.com/gb/podcast/the-online-learning-podcast/id731469236 SUBSCRIBE TO THE CONVERSATION WITH THE SIX MINUTE STRATEGIST PODCAST https://itunes.apple.com/gb/podcast/conversation-six-minute-strategist/id474228987?mt=2 JOIN MY BUSINESS ACA...

    published: 15 Nov 2013
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: 952
videos
featuring Steve Groya, Aldine Capital Partners
https://wn.com/Funding_The_Acquisition_The_Nuts_And_Bolts_Of_Debt_Financing
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

  • Order:
  • Duration: 6:37
  • Updated: 11 Feb 2015
  • views: 205
videos
“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
Merger Model: Cash, Debt, and Stock Mix

Merger Model: Cash, Debt, and Stock Mix

  • Order:
  • Duration: 19:59
  • Updated: 21 Oct 2014
  • views: 18217
videos
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
Purchase Price in M&A Deals: Equity Value or Enterprise Value?

Purchase Price in M&A Deals: Equity Value or Enterprise Value?

  • Order:
  • Duration: 15:29
  • Updated: 10 Mar 2016
  • views: 17392
videos
In this tutorial, you’ll learn why the real price paid by a buyer to acquire a seller in an M&A deal is neither the Purchase Equity Value nor the Purchase Enterprise Value… exactly. http://breakingintowallstreet.com/ "Financial Modeling Training And Career Resources For Aspiring Investment Bankers" Table of Contents: 4:29: Problem #1: The Treatment of Debt 8:03: Problem #2: The Treatment of Cash 11:45: Recap and Summary Common questions: “In an M&A deal, does the buyer pay the Equity Value or the Enterprise Value to acquire the seller?” “What does it mean in press releases when they say the purchase consideration ‘includes the assumption of debt’? Does that mean the price is the Enterprise Value?” The Basic Definitions Equity Value: Value of ALL the company’s assets, but only to common equity investors (shareholders). Enterprise Value: Value of ONLY the core business operations, but to ALL investors (equity, debt, etc.). So when you calculate Enterprise Value, starting with Equity Value… Add Items When: They represent other investors (Debt investors, Preferred Stock investors, etc.) or long-term funding sources (Capital Leases, Unfunded Pensions) Subtract Items When: They are not related to the company’s core business operations (side activities, cash or excess cash, investments, real estate, etc.) The Confusion The problem is that many sources say Enterprise Value is what it “really costs to acquire a company.” But that’s not exactly true – yes, sometimes Enterprise Value is closer, but it depends on the deal terms and the items in Enterprise Value. We know, WITH CERTAINTY, that if you acquire 100% of a company, you must pay for 100% of its common shares. So the Purchase Equity Value is sort of a “floor” for the purchase price in an M&A deal. But should you really add the seller’s Debt, Preferred Stock, and other funding sources, and subtract 100% of the seller’s cash balance to determine the “real price”? There are many problems with that approach, but we’ll look at two of them here: PROBLEM #1: Does Debt really increase the purchase price? It depends, because debt can be either “assumed” (kept) or “refinanced” (replaced with new debt or paid off). Debt is Assumed: Does not increase the amount the buyer “really pays” for the seller. Debt is Repaid with the Buyer’s Cash: Does increase the amount the buyer “really pays”. Existing Debt is Replaced with New Debt: Increases the amount the buyer “really pays,” but the buyer still isn’t paying more cash. PROBLEM #2: Does Cash really reduce the purchase price? A buyer can’t just “take” a seller’s entire cash balance following a deal – all companies need a certain “minimum cash balance” to keep operating, paying the bills, etc. That portion of cash is actually a core business operating asset. Enterprise Value: As a simplification, we ignore the minimum cash and subtract all cash instead. So if a company operating by itself always needs some minimum amount of cash, it certainly still needs a minimum amount of cash in an M&A deal. Other Complications Transaction Fees: These always exist, and will always increase the price the buyer pays (lawyers, accountants, bankers, etc.). Unfunded Pensions, Capital Leases, etc.: These don’t necessarily have to be “paid” or “repaid” upon change of control… so they may not even affect the price, even though they factor into Enterprise Value. Extra Cash: What if the buyer’s cash + seller’s cash are used to fund the deal? Then the real price paid may not even be comparable to the seller’s Equity Value or Enterprise Value. The Bottom Line You have to distinguish between the *valuation* of a company or deal and the *actual price paid*. Equity Value and Enterprise Value are useful for valuation, but less useful for determining the real price paid. The real price paid may be between Equity Value and Enterprise Value, above them, or even below them, depending on the terms of the deal – due to the treatment of debt and cash, fees, and liabilities that don’t affect the cash cost of doing the deal. When you see language like “Including assumption of net debt,” that means the approximate Purchase Enterprise Value for the deal, because they are calculating it as Purchase Equity Value + Debt – Cash. But it’s still not what the buyer actually pays – it’s just a way to value the deal and get multiples like EV / EBITDA. RESOURCES: https://youtube-breakingintowallstreet-com.s3.amazonaws.com/108-10-Purchase-Price-MA-Deals.pdf
https://wn.com/Purchase_Price_In_M_A_Deals_Equity_Value_Or_Enterprise_Value
Kotak Mahindra may use SMBC stake sale proceeds to fund acquisitions

Kotak Mahindra may use SMBC stake sale proceeds to fund acquisitions

  • Order:
  • Duration: 2:37
  • Updated: 01 Jul 2010
  • views: 381
videos
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
Raising bank finance to fund acquisitions

Raising bank finance to fund acquisitions

  • Order:
  • Duration: 2:26
  • Updated: 12 Feb 2012
  • views: 94
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
Trifon Says IPO to Fund New Technolgy Acquisitions: Video

Trifon Says IPO to Fund New Technolgy Acquisitions: Video

  • Order:
  • Duration: 3:07
  • Updated: 23 Mar 2012
  • views: 80
videos
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
Basic leveraged buyout (LBO) | Stocks and bonds | Finance & Capital Markets | Khan Academy

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

  • Order:
  • Duration: 5:36
  • Updated: 12 May 2011
  • views: 149708
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/corporate-debt-versus-traditional-mortgages?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/simple-merger-arb-with-share-acquisition?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: Private equity firms often borrow money (use leverage) to buy companies. This tutorial explains how they do it and pay the debt. 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/Basic_Leveraged_Buyout_(Lbo)_|_Stocks_And_Bonds_|_Finance_Capital_Markets_|_Khan_Academy
Asset stripping can help fund acquisitions

Asset stripping can help fund acquisitions

  • Order:
  • Duration: 1:44
  • Updated: 30 Jun 2008
  • views: 392
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
Entrepreneurship 360° - Trends and Best Practices in Fund Raising Investments, Acquisitions

Entrepreneurship 360° - Trends and Best Practices in Fund Raising Investments, Acquisitions

  • Order:
  • Duration: 46:52
  • Updated: 05 Jun 2014
  • views: 171
videos
Alberto Onetti, Marco Marinucci (Mind the Bridge Foundation) www.mindthebridge.org
https://wn.com/Entrepreneurship_360°_Trends_And_Best_Practices_In_Fund_Raising_Investments,_Acquisitions
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: 1971
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
Strategic Management: Routes to Entrepreneurship Through Acquisition

Strategic Management: Routes to Entrepreneurship Through Acquisition

  • Order:
  • Duration: 1:13:18
  • Updated: 09 Oct 2009
  • views: 32976
videos
Four entrepreneurs discuss the idea of acquiring a small business as a route to entrepreneurship. The participants took different routes to Entrepreneurship Through Acquisition (ETA): search funds, a self-funded search, and a search sponsored by a private equity fund. Each entrepreneur shares his decision making on the right time to take the path of ETA. Participants: Moderator Peter Kelly; David Kennedy, Sean Callahan, Ciaran Power, and Michael Sanabria. Resources on Search Funds: http://www.gsb.stanford.edu/ces/resources/search_funds.html Center for Entrepreneurial Studies: http://www.gsb.stanford.edu/ces/ Recorded: Oct. 5, 2009 as part of Strategic Management 543 course.
https://wn.com/Strategic_Management_Routes_To_Entrepreneurship_Through_Acquisition
SAP processes- GCPC; Imprest Fund and SF44

SAP processes- GCPC; Imprest Fund and SF44

  • Order:
  • Duration: 9:49
  • Updated: 02 May 2010
  • views: 1439
videos
Jennifer explains three of the five simplified acquisition procedures (SAP)- the Government Commercial Purchase Card (GCPC), the use of an imprest fund and the use of the Standard Form (SF) 44.
https://wn.com/Sap_Processes_Gcpc_Imprest_Fund_And_Sf44
Ergomed expanding via earnings-enhancing acquisitions

Ergomed expanding via earnings-enhancing acquisitions

  • Order:
  • Duration: 7:13
  • Updated: 05 May 2016
  • views: 194
videos
Andrew Mackie, chief business officer of Ergomed Plc (LON: ERGO), says the company is looking for more acquisitions principally specialist service companies operating in the post-marketing arena. The pharma services specialist has just bought Haemostatix and its pipeline of topical products to treat surgical bleeding. Mackie is confident the products could get to market quickly and economically, but tells investors there are earlier monetisation moments in terms of deals with licencing partners. Concurrent with this week’s acquisition, Ergomed raised £9 million to assist the development of Haemostatix products and fund bolt on acquisitions to cover geographical holes globally and enhance service delivery.
https://wn.com/Ergomed_Expanding_Via_Earnings_Enhancing_Acquisitions
Day In the Life of an Intern (Full Video)

Day In the Life of an Intern (Full Video)

  • Order:
  • Duration: 5:15
  • Updated: 30 Dec 2010
  • views: 209318
videos
Full Video for the day in the life of an Intern at Fidelity Investments Asset Management Division, Ryan Sepassi. To apply online go to http://www.ifyouonlyknew.com/internshipsUG/overview.html
https://wn.com/Day_In_The_Life_Of_An_Intern_(Full_Video)
Mergers and Acquisitions DeMystified - How Deals are Done!

Mergers and Acquisitions DeMystified - How Deals are Done!

  • Order:
  • Duration: 2:58
  • Updated: 15 Nov 2013
  • views: 736
videos
http://jbdcolley.com/manda This Course is designed to introduce you to how Mergers and Acquisitions work, covering over 120 key points in 45 minutes of video and with some key bonuses to help you. Using the Six Minute Strategist methodology, the course is taught in a structured, clear to understand way. VISIT JBDCOLLEY.COM THE SIX MINUTE STRATEGIST BLOG FOR LOADS MORE BUSINESS STRATEGY CONTENT http://jbdcolley.com SUBSCRIBE TO KEEP UPTO DATE WITH MY VIDEOS http://www.youtube.com/user/jbdcolley SUBSCRIBE TO THE ONLINE LEARNING PODCAST https://itunes.apple.com/gb/podcast/the-online-learning-podcast/id731469236 SUBSCRIBE TO THE CONVERSATION WITH THE SIX MINUTE STRATEGIST PODCAST https://itunes.apple.com/gb/podcast/conversation-six-minute-strategist/id474228987?mt=2 JOIN MY BUSINESS ACADEMY TO LEARN ABOUT STARTUPS, BUSINESS STRATEGY, MARKETING, FUND RAISING, M&A AND EXITS http://jbdcolley.com/business_academy/ CHECK OUT MY PHOTOGRAPHY WEBSITE http://fineartamerica.com/profiles/john-colley.html VISIT MY PLAYLISTS HERE http://www.youtube.com/user/jbdcolley/playlists LETS CONNECT! Google+ : http://jbdcolley.com/googleplus Facebook : http://jbdcolley.com/facebook Twitter : http://jbdcolley.com/twitter Linkedin : http://jbdcolley.com/linkedin
https://wn.com/Mergers_And_Acquisitions_Demystified_How_Deals_Are_Done
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