...the private equity (PE) industry and its stakeholders. Private equity consulting at Bain has grown 13-fold over the past 15 years and now represents about one-quarter of the firm’s global business. We maintain a global network of more than 400 experienced professionals serving PE clients. Our practice is more than three times larger than that of the next-largest consulting firm serving private equity funds. Bain’s work with PE spans fund types, including buyout, infrastructure, real estate, debt and hedge funds. We also work with many of the most prominent limited partners (LPs) to PE firms, including sovereign wealth funds, pension funds, financial institutions, endowments and family investment offices. We support our clients across a broad range of objectives: Deal generation: We help PE funds develop the right investment thesis and enhance deal flow, profiling industries, screening companies and devising a plan to approach targets. Due diligence: We help funds make better deal decisions by performing diligence, assessing performance improvement opportunities and providing a post-acquisition agenda. Immediate post-acquisition: We support the pursuit of rapid returns by developing a strategic blueprint for the acquired company, leading workshops that align management with strategic priorities and directing focused initiatives. Ongoing value addition: We help increase company value by supporting revenue enhancement and cost reduction and by refreshing strategy. Exit: We help ensure funds...
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...DISKPART commands: List disk (optional to help you specify the correct “index” number) select disk 1 (for the case of 1 hard drive, assigned index of 0, and 1 USB stick) detail disk (info will help verify that you’ve selected the desired USB stick) clean {Removes all partition or volume formatting from disk with focus) create partition primary {create a primary partition| select partition 1 {select the partition you just created) active (mark the partition as Active, ie, a system bootable partition) format quick fs=fat32 (format the partition as Fat32) assign (assign next available drive letter to the volume) exit (exit DISKPART and return to the command-shell prompt) Type EXIT | hit ENTER Exit from the command-shell. REMOVE THE USB STICK STEP 2 DOWNLOAD & INSTALL WIN 7 AUTOMATED INSTALLATION KIT (AIK) The Win 7 AIK is a set of tools and documentation that support the configuration and deployment of Windows® operating systems DOWNLOAD THE AIK The Windows® Automated Installation Kit (AIK) for Windows® 7 RC download URL is: http://www.microsoft.com/downloadS/details.aspx?familyid=60A07E71-0ACB-453A-8035-D30EAD27EF72&displaylang=en You will be downloading a 1.40 GB (1,505,271,808 bytes) ISO file. BURN THE AIK ISO FILE Win 7 comes with a very primitive command-line ISO burner, named, ISOBURN.EXE...
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...| Financial Services AssignmentSubmitted to Prof. S. Shanbhag | Shashank Gupta (2013266) | 9/6/14 | Financial Services | | | Financial Services AssignmentSubmitted to Prof. S. Shanbhag | Shashank Gupta (2013266) | 9/6/14 | Financial Services | | Q. What does the Government of India hope to achieve with the new draft RBI guidelines for the wealth management industry? What are the reasons behind introduction of the new regulations? A. Reserve bank of India’s guidelines for the wealth management industry prohibit banks from offering discretionary wealth management services to their customers, wherein a portfolio manager independently manages funds of individual customers and takes their investment decisions. The discretionary portfolio management service also includes portfolios broadly directed by the customer, or those wherein the customer gives a negative list of investment products at the time of opening the account so that the fund manager ensures that such investment products are not included in the portfolio. In case of non-discretionary services, the RBI allows banks to work through a separately identifiable department or division (SIDD) or a subsidiary. Such a subsidiary or SIDD would require to be registered with market regulator Securities and Exchange Board of India (SEBI) and comply with SEBI guidelines on providing these services, including the code of conduct, if any. There should be an arm’s length relationship between the bank and...
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...2014 Middle-Market Private Equity Outlook A CohnReznick LLP Report FEBRUARY 2014 Table of Contents Today’s Private Equity Business Environment.................1 Critical Issues Facing Private Equity in 2014...................6 Private Equity Due Diligence Focus................................24 The Road Ahead..................................................................29 A CohnReznick Report 3 Preface The private equity (PE) industry is well-positioned for an optimistic 2014. After five challenging years, there were a number of positive developments for the industry in 2013, including a rebound in fundraising and a record $120 billion returned to investors in private equity. mo • men • tum noun: the impetus gained by a moving object Overall, 2013 will be remembered as a solid year for private equity. Although the year started off slowly, activity picked up considerably in the second half, particularly in the world of exits. The fourth quarter of 2013 was one of the strongest quarters on record for PE exits, attributable largely to a robust IPO market. The key topic that must be considered in projecting the industry’s outlook for 2014 is whether it can build upon this momentum, or whether the industry’s capital overhang and competition for quality deals will prove too great a resistive force. While we’ll analyze the industry in its broadest sense, our focus is decidedly on the outlook for middle-market private equity firms―those firms with assets under...
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...Presentation: Private Equity – part 1. General introduction Fin205 Jiayue Dai Chao Yang 1. What is PE? a. Not quoted on a public exchange. b. Make investments directly into private companies or conduct buyouts of public companies that result in a delisting of public equity. Capital for private equity is raised from retail and institutional investors, and can be used to fund new technologies, expand working capital within an owned company, make acquisitions, or to strengthen a balance sheet. c. Commit large sums of money for long periods of time. d. After buyout, PE will try to improve the financial results and prospects of the company in the hope of reselling the company to another firm or cashing out via an IPO. 2. Difference between Private Equity and Public Equity a. As for private equity, Investments are less liquid b. Unlike public equity, PE is a vehicle that is only limited to the sophisticated investors. c. Longer investment horizons. Since private equity investments are made in privately owned companies, they are inherently less liquid than public stocks. Besides, unlike public equity that people can get access to in stock exchanges, PE is a vehicle that is limited to “sophisticated investors”. PE has comparatively longer investment horizons. Sometimes, they would like to lock the money for greater than 10 years. 3. Differences between PE, IB, and VC Venture Capital: focuses on seeding new businesses and providing capital injections in young...
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...INTRODUCTION - (page 1) Plz refer book or see the short description below C is a general-purpose language which has been closely associated with the UNIX operating system for which it was developed - since the system and most of the programs that run it are written in C. Many of the important ideas of C stem from the language BCPL, developed by Martin Richards. The influence of BCPL on C proceeded indirectly through the language B, which was written by Ken Thompson in 1970 at Bell Labs, for the first UNIX system on a DEC PDP-7. BCPL and B are "type less" languages whereas C provides a variety of data types. In 1972 Dennis Ritchie at Bell Labs writes C and in 1978 the publication of The C Programming Language by Kernighan & Ritchie caused a revolution in the computing world. In 1983, the American National Standards Institute (ANSI) established a committee to provide a modern, comprehensive definition of C. The resulting definition, the ANSI standard, or "ANSI C", was completed late 1988. Error Handling (Exception Handling) in C - (page 2) In this Project file we are going to look at error handling. Although C programming does not provide direct support for error handling (also called exception handling), there are ways to do error handling. Of course the programmer needs to prevent errors during coding and should always test the return values of functions called by the program. A lot of C function calls return a -1 or NULL in case of an error, so quick test...
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...Iowa State University Digital Repository @ Iowa State University Graduate Theses and Dissertations Graduate College 2012 Three essays on biofuel, environmental economics, and international trade Jingbo Cui Iowa State University Follow this and additional works at: http://lib.dr.iastate.edu/etd Part of the Agricultural and Resource Economics Commons, Agricultural Economics Commons, Economics Commons, and the Natural Resource Economics Commons Recommended Citation Cui, Jingbo, "Three essays on biofuel, environmental economics, and international trade" (2012). Graduate Theses and Dissertations. Paper 12304. This Dissertation is brought to you for free and open access by the Graduate College at Digital Repository @ Iowa State University. It has been accepted for inclusion in Graduate Theses and Dissertations by an authorized administrator of Digital Repository @ Iowa State University. For more information, please contact hinefuku@iastate.edu. Three essays on biofuel, environmental economics, and international trade by Jingbo Cui A dissertation submitted to the graduate faculty in partial fulfillment of the requirements for the degree of DOCTOR OF PHILOSOPHY Major: Economics Program of Study Committee: Harvey Lapan, Co-major Professor GianCarlo Moschini, Co-major Professor Sebastien Pouliot John Schroeter Rajesh Singh Iowa State University Ames, Iowa 2012 Copyright c Jingbo Cui, 2012. All rights reserved. ii DEDICATION ...
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...NATIONAL UNIVERSITY OF SINGAPORE NUS BUSINESS SCHOOL Department of Finance BMA5318: Investment Banking (Summer I: May-June 2012) Instructor: Banikanta Mishra Office: BIZ 1 Level 7-77 Telephone: +91-943-707-5075 E-mail: banikant@ximb.ac.in Prerequisite: BMA5008 (Financial Management) COURSE SYNOPSIS: This course is a blended introduction to Investment Banking (IB). It would combine theory and practice. To buttress our understanding of practice, we would do some case studies and also have practitioners give a Street Talk every week; some of them may discuss live projects and I may pitch in with my experience with past ones I have been directly involved in. Moreover, we would have both qualitative and quantitative discussions on most topics, the latter mainly being numerical examples (not any rocket science or high-flying calculus). Though we would talk about the global scenario, our focus, whenever possible, would be on Asia. After gaining an idea into what IB is and understanding the basics of Trading, we would study in detail the capital-raising process, mainly Underwriting and Syndication. Here, we would learn about IPO and SEO and ADR and GDR as well as about NIF and RUF. We would also get familiar with Euromarket and the innovative Euro instruments like Euronote and Euro-CP as well as Eurobond and Euroequity. This would also give an opportunity to get a glimpse into Financial Engineering in debt and equity instruments as well as about Structured...
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...Applied Finance Centre Assignment Cover Sheet Unit Code: Lecturer’s Name Assignment Title: Student’s Name: Student Number: Due Date: ECFS895 Unit Name: Private Equity Study Centre: AFC Stephane Chatonsky Private Equity Case Study Manuel Hernandez 43009492 4 September, 2012 th Date Submitted: 4 , September, 2012 th ACADEMIC HONESTY DECLARATION (this is very important please read carefully): By placing my name in this document I declare that: This assessment is my own work, based on my personal study and/or research; I have acknowledged all material and sources used in the preparation of this assessment, including any material generated in the course of my employment; If this assessment was based on collaborative preparatory work, as approved by the teachers of the unit, I have not submitted substantially the same final version of any material as another student; Neither the assessment, nor substantial parts of it, have been previously submitted for assessment in this or any other institution; I have not copied in part, or in whole, or otherwise plagiarised the work of other students; I have read and I understand the criteria used for assessment; The assessment is within the word and page limits specified in the unit outline or case study; The use of any material in this assessment does not infringe the intellectual property / copyright of a third party; I understand that this assessment may undergo electronic detection for plagiarism...
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...EXAM TWO REVIEW: A. Explicit Cost vs. Implicit Cost and Accounting Costs vs. Economic Costs: Economic Cost: the monetary value of all inputs used in a particular activity or enterprise over a given period. Economic costs reflect the opportunity cost of resources. Explicit Costs: paid directly in money - money costs. A firm incurs explicit costs when it pays for a factor of production at the same time it uses it. • Explicit Cost = payments by a firm to purchase the service of productive resources (wages, interest, rent, capital) Implicit Costs: measured in units of money, but are not paid for directly in money. The costs of nonpurchased inputs, to which a cash value must be imputed because the inputs are not purchased in a market transaction. A firm incurs implicit costs when it uses capital, inventories or owner’s resources. • Implicit Costs = opportunity costs associated with a firm’s use of resources that it owns (wages foregone by owner, interest rates loss through purchases) Accounting Costs: Measures the explicit costs of operating a business - RESULTS FROM PURCHASES OF INPUT SERVICES. Economic Profit: the difference between the total revenue and the cost of all inputs used by a firm over a given period. It is the TR - OC. OC are the explicit and implicit costs of the best alternative actions forgone. (TR-TC) From now on, if I refer to “profit” that is referring to economic profit. B. • • • • • • • • • Production and Costs: COST CURVES: Fixed Costs (TFC) = costs...
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...NIBC Valuation Memo Analysis of valuation methodologies Comparable company analysis compares trading and operating performance of the Wynn Resort to its peers. We used this valuation method to determine how the market has valued the earnings and cash flows of similar companies and allow us to analyze other parameters such as book value, leverage and margins. The main benefit of this valuation methodology is that market efficiency ensures that the trading multiples are similar for companies in a related industry, geography, and have similar market cap and growth rates, thus the company in question can be valued based on its close trading comparables. Disadvantages include an inability to find exact comparables, as no two companies are the same; thinly traded stocks may not fully reflect the fundamental value of the company, or extreme market volatility may cause deviation from intrinsic value, and an entire industry could be undervalued or overvalued as a result. Precedent transaction analysis determines the values offered in past acquisitions of similar companies and determines the pricing associated with past deals as compared to the target’s financial performance and current market value. The pro is that comparable transactions reflect reality as it has occurred in the past. This method gives you an accurate sense of how past transactions were successfully completed at certain premiums, which indicates a range of plausible premiums. Trends such as consolidating acquisitions...
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...This is the html version of the file http://kukmojungecn101.weebly.com/uploads/1/4/5/6/14568902/ps3ak_2012_ss2.pdf. Google automatically generates html versions of documents as we crawl the web. Page 1 1 Problem Set #3 Intermediate Macroeconomics 101Due 27/8/12 Question 1. (Ch6. Q1)Using the information in this chapter, label each of the following statements true, false, oruncertain. Explain briefly.A. Since 1950, the participation rate in the United States has remained roughly constantat 60%.B. Each month, the flows into and out of employment are very small compared to thesize of the labor force. C. Fewer than 10% of all unemployed workers exit the unemployment pool each year.D. The unemployment rate tends to be high in recessions and low in expansions.E. Most workers are typically paid their reservation wage.F. Workers who do not belong to unions have no bargaining power.G. It may be in the best interest of employers to pay wages higher than their workers'reservation wage.H. The natural rate of unemployment is unaffected by policy change. AnswerA. False. The participation rate has increased over time.B. False.C. False.D. True.E. False.F. Uncertain/False. The degree of bargaining power depends on the nature of the joband the employee’s skills.G. True.H. False. Page 2 2 Question 2. (Ch6. Q3)The natural rate of unemploymentSuppose that the markup of goods prices over marginal cost is 5%, and that the wage settingequation is W = P (1 - u )A. What is the real wage, as determined...
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...correspond to certain ideal types - perfect competition, monopoly, oligopoly and imperfect competition. Which of these models would you choose to analyse the following markets in the UK? minicabs in London – monopolistic competition potatoes – perfect competition water and sewerage services in London - monopoly package holidays - oligopoly fish 'n chip shops – monopolistic competition universities - oligopoly 2. The following table shows the output of an agricultural commodity over a ten year period together with the price output price (£/tonne) 2000 100 8 2010 200 12 Based on this data work out the coefficient for the elasticity of supply. Answer %∆Q= (200-100)/100x100=100 %∆P=(12-8)/8x100=50 PES = %∆Q/%∆P PES = 100/50 PES=2 When the coefficient is greater than one, the supply can be described as elastic. State whether the following statements are true or false and briefly explain why:- a) The supply of this commodity seems to be inelastic. False b) The percentage increase in output is more than the percentage increase in price. Therefore supply is said to be elastic. True c) We would expect supply to be elastic since it is easier for farmers to switch from growing one crop to another than it is for industry to switch from producing one manufactured product to another. True 3. Comment on the estimates of the cross-price elasticity of demand between the following pairs of products (as perceived by consumers who may purchase...
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...ownership, Advent helped Cetip in its transition from a non-profit mutual organisation, with more than 600 financial institutions as members, into a listed business with a strong growth profile. Following its demutualisation in 2008, the company reinforced its management team, implemented best-practice corporate governance, instilled a culture of innovation and performance improvement and subsequently acquired GRV Solutions, effectively doubling in size. As they wrapped up lunch with a traditional café, the three colleagues wondered whether Advent had sold its stake in Cetip at the right time. Had Advent really unlocked all of the remaining value in the investment? History of Private Equity in Brazil Private equity and venture capital (PE/VC) investment is a recent phenomenon in...
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...Venture Financing in India A. Sahay* Abstract Innovation is stated to be the initiating force for a new venture but venture finance is the life blood for entrepreneurship. Innovation is the fuel for igniting the Entrepreneurial engine, Venture capital revs up the engine fast till it attains sustainable speed to change the gears from idea to entity, eventually reaching IPO stage. The paper starts with Research and Development Cess Act, 1986 and covers the development in the field till 2003 and presents an analysis of venture investments as well as future prospects . The history of Venture capital (VC), its advent in India, Characteristics of VC, Government guidelines on VC, Classification of VC in India, Types of V and their analysis has been dealt in the C paper. . Introduction Since Independence till early1990s, the Government has been playing the role of an entrepreneur as well. This was on account of the policy direction which propounded socialistic society and mixed economy. There was dearth of capital, infrastructure facilities and entrepreneurship in the country. During this period, the Government developed infrastructural base such as roads, railways, electricity, ports, banks, financial institutions, insurance etc through the public sector enterprises which were supposed to attain commanding heights of the economy. The environment thus created resulted in the people of India becoming job seekers and the Government itself became a dominant entrepreneur and job provider...
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