The Debt Trap: How leverage impacts private-equity - download pdf or read online

By Sebastien Canderle

ISBN-10: 0857195409

ISBN-13: 9780857195401

this can be the interior tale of personal fairness dealmaking.

Over the final forty years, LBO fund managers have established that they're solid at being profitable for themselves and their traders. but if one seems to be underneath the outside of the transactions they engineer, it's obvious that those bargains can, from time to time, move spectacularly wrong.

Through 14 enterprise tales, all emanating from the noughties' credits bubble and together with headline-grabbing names like Caesars, Debenhams, EMI, Hertz, Seat Pagine Gialle and TXU, The Debt seize indicates how, through debatable practices like speedy flips, repeat dividend recaps, heavy cost-cutting and asset-stripping, leveraged buyouts replaced, for greater or for worse, the way in which deepest businesses are financed and controlled today.

From technological disruption within the worlds of song recording and business-directory publishing to financial turbulence within the playing, actual property and effort sectors, hugely levered firms are frequently incapable of dealing with marketplace corrections whilst debt commitments begin piling up. in the back of the historic occasions and the monetary empires erected by means of many of the elite deepest fairness experts, those 14 in-depth case experiences study how value-maximising options and a short-cut mentality can impression funding returns and portfolio assets.

Whether you're a PE practitioner, investor, enterprise supervisor, educational or enterprise pupil, you can find The Debt seize to be an authoritative and interesting account.

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The Debt Trap: How leverage impacts private-equity performance by Sebastien Canderle


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