{"id":43958,"date":"2017-12-01T04:24:38","date_gmt":"2017-12-01T02:24:38","guid":{"rendered":"https:\/\/newserver.fyb.de\/produkt\/editorial-2010\/"},"modified":"2017-12-01T04:24:38","modified_gmt":"2017-12-01T02:24:38","slug":"editorial-2010-2","status":"publish","type":"product","link":"https:\/\/www.fyb.de\/en\/produkt\/editorial-2010-2\/","title":{"rendered":"Editorial 2010"},"content":{"rendered":"

Jeremy P. Golding<\/strong> \u2014 Foun\u00adder and Mana\u00adging Direc\u00adtor of Golding Capi\u00adtal Part\u00adners GmbH, a leading invest\u00adment manage\u00adment firm focu\u00adsed on private equity<\/p>\n","protected":false},"excerpt":{"rendered":"

The markets are still under the impact of the finan\u00adcial crisis. Nevert\u00adhel\u00adess, it can alre\u00adady be said: The private equity busi\u00adness model has shown remar\u00adkable resi\u00adli\u00adence in very diffi\u00adcult times. It goes without saying that a global shock of this dimen\u00adsion will not leave the invest\u00adment port\u00adfo\u00adlios of private equity mana\u00adgers unsca\u00adthed. The exten\u00adsion of the exit hori\u00adzon for many inves\u00adtors, the tempo\u00adrary end of high liqui\u00addity in the debt market and a more diffi\u00adcult econo\u00admic envi\u00adron\u00adment for port\u00adfo\u00adlio compa\u00adnies are facts. These are also reflec\u00adted in the some\u00adti\u00admes high write-downs that the funds had to make, as well as in the discounts at which fund units and loans were traded on the secon\u00addary market. Howe\u00adver, the decisive factor for future success is how the effects of the crisis were dealt with overall.<\/p>\n

While some large and well-known compa\u00adnies, as well as many SMEs, slid almost unche\u00adcked into (near) insol\u00advency, many private equity mana\u00adgers rolled up their slee\u00adves at the first signs of the emer\u00adging crisis and made their invest\u00adments fit for the new envi\u00adron\u00adment \u2014 and can now alre\u00adady look ahead again.<\/p>\n

This has shown that private equity compa\u00adnies are parti\u00adcu\u00adlarly well placed to imple\u00adment the neces\u00adsary restruc\u00adtu\u00adring measu\u00adres quickly and consis\u00adt\u00adently and to hold their own through good corpo\u00adrate gover\u00adnance even in very diffi\u00adcult market condi\u00adti\u00adons. While many inves\u00adtors and poli\u00adti\u00adci\u00adans are still puzzling over whether the crisis is really over, private equity inves\u00adtors are alre\u00adady start\u00ading to reap the bene\u00adfits of the new environment.<\/p>\n","protected":false},"featured_media":40978,"comment_status":"open","ping_status":"closed","template":"","meta":{"wp_typography_post_enhancements_disabled":false},"product_brand":[],"product_cat":[2452,2468,2472,2511],"product_tag":[1765,1772,1841,1844,1846],"class_list":{"0":"post-43958","1":"product","2":"type-product","3":"status-publish","4":"has-post-thumbnail","6":"product_cat-ebook-en","7":"product_cat-free-of-charge-en","8":"product_cat-jeremy-p-golding-en","9":"product_cat-fyb-2010-2","10":"product_tag-jeremy-p-golding-en","11":"product_tag-editorial-en","12":"product_tag-private-equity-business-model","13":"product_tag-secondary-market","14":"product_tag-investment-portfolio","15":"pa_sprache-english-3","16":"pa_sprache-german","18":"first","19":"instock","20":"taxable","21":"shipping-taxable","22":"purchasable","23":"product-type-variable"},"yoast_head":"\nEditorial 2010 - FYB Financial Yearbook<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fyb.de\/en\/produkt\/editorial-2010-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Editorial 2010 - FYB Financial Yearbook\" \/>\n<meta property=\"og:description\" content=\"The markets are still under the impact of the financial crisis. Nevertheless, it can already be said: The private equity business model has shown remarkable resilience in very difficult times. It goes without saying that a global shock of this dimension will not leave the investment portfolios of private equity managers unscathed. The extension of the exit horizon for many investors, the temporary end of high liquidity in the debt market and a more difficult economic environment for portfolio companies are facts. These are also reflected in the sometimes high write-downs that the funds had to make, as well as in the discounts at which fund units and loans were traded on the secondary market. However, the decisive factor for future success is how the effects of the crisis were dealt with overall. 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