{"id":44009,"date":"2017-11-26T16:11:32","date_gmt":"2017-11-26T14:11:32","guid":{"rendered":"https:\/\/newserver.fyb.de\/produkt\/private-equity-prospects-through-entrepreneurial-action\/"},"modified":"2017-11-26T16:11:32","modified_gmt":"2017-11-26T14:11:32","slug":"private-equity-perspectives-through-entrepreneurship","status":"publish","type":"product","link":"https:\/\/www.fyb.de\/en\/produkt\/private-equity-perspectives-through-entrepreneurship\/","title":{"rendered":"Private equity \u2014 prospects through entrepreneurial action"},"content":{"rendered":"

Jeremy P. Golding<\/strong> \u2014 Foun\u00adder and Mana\u00adging Direc\u00adtor of Golding Capi\u00adtal Part\u00adners GmbH, Munich, Germany<\/p>\n","protected":false},"excerpt":{"rendered":"

Less use of outside capi\u00adtal, more hard work on the company for solid opera\u00adtio\u00adnal value crea\u00adtion: Successful private equity funds have set new prio\u00adri\u00adties in the sign of the crisis. Regard\u00adless of the current market envi\u00adron\u00adment, their compa\u00adnies can bene\u00adfit from struc\u00adtu\u00adral advan\u00adta\u00adges and thus gene\u00adrate inte\u00adres\u00adt\u00ading long-term earnings oppor\u00adtu\u00adni\u00adties from an inves\u00adtor\u2019s perspec\u00adtive. To exploit the poten\u00adtial of the asset class and avoid plan\u00adning errors, insti\u00adtu\u00adtio\u00adnal inves\u00adtors should seek profes\u00adsio\u00adnal and holi\u00adstic advice.<\/strong><\/p>\n

Follo\u00adwing the finan\u00adcial crisis of 2008\/09, the indus\u00adtria\u00adli\u00adzed nati\u00adons are back on the growth track. Even if econo\u00admic acti\u00advity in the USA and Europe is slow to pick up, the worst reces\u00adsion since the 1930s has been over\u00adcome with massive govern\u00adment aid, and the signs of norma\u00adliza\u00adtion on the finan\u00adcial markets are unmist\u00adaka\u00adble. This also applies to the private equity market. Over\u00adall, private equity inves\u00adtors have actually suffe\u00adred smal\u00adler losses during the crisis than equity inves\u00adtors and can thus conti\u00adnue to record posi\u00adtive returns over the long term: While a ten-year invest\u00adment in Euro\u00adpean equi\u00adties was a losing propo\u00adsi\u00adtion as of the end of 2009, Euro\u00adpean buyouts had an average annual return of around 13 percent over the same period.<\/p>\n

This shows that private equity offers the poten\u00adtial for stable and attrac\u00adtive returns even and espe\u00adci\u00adally in diffi\u00adcult market phases. Expe\u00adri\u00aden\u00adced private equity funds have reac\u00adted quickly and flexi\u00adbly during the crisis, cutting costs, imple\u00admen\u00adting restruc\u00adtu\u00adrings and taking all neces\u00adsary measu\u00adres to secure finan\u00adcing for their compa\u00adnies. In other words, they have preser\u00adved the value of their invest\u00adments through clas\u00adsic entre\u00adpre\u00adneu\u00adrial action. Solid work on the company will conti\u00adnue to be the order of the day: In the coming years, successful private equity tran\u00adsac\u00adtions will be charac\u00adte\u00adri\u00adzed prima\u00adrily by opera\u00adtio\u00adnal value crea\u00adtion and stable cash flows, and less by the massive use of debt capital.<\/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":[2452,2472,2506],"product_tag":[1765,1891,1896],"class_list":{"0":"post-44009","1":"product","2":"type-product","3":"status-publish","4":"has-post-thumbnail","6":"product_cat-ebook-en","7":"product_cat-jeremy-p-golding-en","8":"product_cat-fyb-2011-en","9":"product_tag-jeremy-p-golding-en","10":"product_tag-operational-value-added","11":"product_tag-growth-path","12":"pa_sprache-english-3","13":"pa_sprache-german","15":"first","16":"outofstock","17":"taxable","18":"shipping-taxable","19":"purchasable","20":"product-type-variable"},"yoast_head":"\nPrivate equity - prospects through entrepreneurial action - 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\/private-equity-perspectives-through-entrepreneurship\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private equity - prospects through entrepreneurial action - FYB Financial Yearbook\" \/>\n<meta property=\"og:description\" content=\"Less use of outside capital, more hard work on the company for solid operational value creation: Successful private equity funds have set new priorities in the sign of the crisis. Regardless of the current market environment, their companies can benefit from structural advantages and thus generate interesting long-term earnings opportunities from an investor's perspective. To exploit the potential of the asset class and avoid planning errors, institutional investors should seek professional and holistic advice. Following the financial crisis of 2008\/09, the industrialized nations are back on the growth track. Even if economic activity in the USA and Europe is slow to pick up, the worst recession since the 1930s has been overcome with massive government aid, and the signs of normalization on the financial markets are unmistakable. This also applies to the private equity market. Overall, private equity investors have actually suffered smaller losses during the crisis than equity investors and can thus continue to record positive returns over the long term: While a ten-year investment in European equities was a losing proposition as of the end of 2009, European buyouts had an average annual return of around 13 percent over the same period. This shows that private equity offers the potential for stable and attractive returns even and especially in difficult market phases. Experienced private equity funds have reacted quickly and flexibly during the crisis, cutting costs, implementing restructurings and taking all necessary measures to secure financing for their companies. In other words, they have preserved the value of their investments through classic entrepreneurial action. 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