The Private Equiteer is an account of my thoughts and theories while working as a private equiteer. All articles are grouped into categories for easy browsing and are accessible using the search tool on the right.
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Analysis & Due Diligence
Analysis, accounting & due diligence are staple tasks for a private equiteer. My general advice is to make your analysis count by applying a surgical focus to a few key hypotheses.
Top 3 Posts (see all Analysis & DD articles)
Anti-PE
These posts weren’t designed to be Anti-Private-Equity, they just came by way of reflection. Take them with a pinch of salt and a dash of pepper.
Top 3 Posts (see all Anti-PE articles)
Banks & Debt
The secret to private equity is receiving geared equity returns for debt risk. Banks & debt are therefore an important facet of private equity.
Top 3 Posts (see all Banks & Debt articles)
Dealmaking
Portfolio companies often have the upper hand in private equity deals. (Unlike in VC, investees are already very successful.) So, dealmaking features heavily in the daily life of the private equiteer.
Top 3 Posts (see all Dealmaking articles)
Entrepreneur
Most private equiteers have very little hands-on entrepreneurial experience. To really set yourself apart (and connect with investees), it helps to think, walk and live like a real entrepreneur.
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Firm & Fund
Private equity is an investment methodology that is founded on the structure of private equity firms and funds. Day-to-day life as a private equiteer is helped by an understanding of this bigger picture.
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Private Equiteers
As with every industry, there are human dynamics in private equity that can make or break your success. Since private equity is so “private”, I’ve focused on this area to help expedite your progress.
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Structuring
If there’s one theme that underpins the entire concept of private equity, it’s structuring. The structure of an investment is what helps private equiteers achieve equity returns for debt risk.
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Theories & Ideas
I’ve attempted to use deconstruction theory to uncover myths and pull apart assumptions in private equity. Some is common sense, some is non-sense, and some you may find interesting.
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Valuation
On the surface, private equity valuations seem very simple: a market multiple multiplied by the latest earnings figure. But once you get your hands dirty, you’ll find a lot of complexity, which I’ve tried to cover here.
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