Private Equity

What it is about

You will learn how corporate finance works from the perspective of startups to established firms and from the perspective of private-equity investors. After an introduction to debt, hybrid instruments and balance sheet/planning logic, you will build an integrated financial model and extend it with an LBO model.

What you will be able to do

Analyze the financial position of a company
Create financial forecasts / budgets
Manage liquidity, receivables, payables (and inventory)
Analyze important debt instruments
Understand decision factors between debt and equity financing
Build an integrated financial model
Create an LBO model

What the module consists of

VorlesungContent is conveyed through presentations and lectures
Übungen / Excel-Modelling-SessionsApplication of the learned material in practical models

Teaching method

Presentation / Lecturefor conveying the theoretical content
Exercise and modeling sessions in Excelfor practical application and deepening
Self-study of the suggested literaturefor deepening and expanding knowledge

What you should already know

Investment and Financial Management (WI000219) or Corporate Finance (WI000091) or equivalent courserecommended
Advanced Excel skillsrecommended
Good English skillsrecommended

Assessment

Written examWritten examIndividual exam

A 90-minute on-site E-test via Moodle. Permitted aids: non-programmable calculator, non-electronic dictionary and a two-sided A4 crib sheet (with name and student ID), which must be handed in at the end. The exam tests understanding and analysis of corporate-financing decisions, financial modeling of private-equity transactions, as well as valuation and critical assessment of relevant debt instruments.

Exam date11.02. · 08:00–09:302300, Friedrich von Thiersch Hörsaal (0503.02.300); 1200, Carl-von-Linde-Hörsaal (0502.01.200); 0980, Audimax (0509.EG.980)

Reading list

Mathonet, P.-Y. / Meyer, T. - J-curve exposure – Managing a portfolio of venture capital and private equity funds
Rosenbaum, J. / Pearl, J. - Investment Banking - Valuation, Leveraged Buyouts and, Mergers & Acquisitions
Talmor, E. / Vasvari, F. - International Private Equity
Phalippou, L. - Private Equity Laid Bare

Dates

LecturePrivate Equity (WI001187, englisch)

Wed16:45–18:15
2300, Friedrich von Thiersch Hörsaal (0503.02.300)
15× · 14.10.–03.02.
- 14.10.
- 21.10.
- 28.10.
- 04.11.
- 11.11.
- 18.11.
- 25.11.
- 02.12.
- 09.12.
- 16.12.
- 23.12.
- 13.01.
- 20.01.
- 27.01.
- 03.02.

ExercisePrivate Equity - Übung (WI001187, englisch)

Thu16:45–18:15
2300, Friedrich von Thiersch Hörsaal (0503.02.300)
14× · 15.10.–04.02.
- 15.10.
- 22.10.
- 29.10.
- 05.11.
- 12.11.
- 19.11.
- 26.11.
- 10.12.
- 17.12.
- 07.01.
- 14.01.
- 21.01.
- 28.01.
- 04.02.

From the current semester, not binding.

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