Going Public Understanding Motives of Private Equity Firms

2008 ◽  
Author(s):  
Baz Venugopal
Keyword(s):  
Private Equity ◽  
Public Understanding ◽  
Going Public

scholarly journals The Deregulation of the Private Equity Markets and the Decline in IPOs

2020 ◽  
Vol 33 (12) ◽  
pp. 5463-5509 ◽  
Author(s):  
Michael Ewens ◽  
Joan Farre-Mensa
Keyword(s):  
Initial Public Offering ◽  
Bargaining Power ◽  
Private Equity ◽  
Market Failure ◽  
Securities Markets ◽  
Private Capital ◽  
Going Public ◽  
Number Of Factors ◽  
Public Offering ◽  
Securities Laws

Abstract The deregulation of securities laws—in particular the National Securities Markets Improvement Act (NSMIA) of 1996—has increased the supply of private capital to late-stage private startups, which are now able to grow to a size that few private firms used to reach. NSMIA is one of a number of factors that have changed the going-public versus staying-private trade-off, helping bring about a new equilibrium where fewer startups go public, and those that do are older. This new equilibrium does not reflect an initial public offering (IPO) market failure. Rather, founders are using their increased bargaining power vis-à-vis investors to stay private longer.

scholarly journals IPO as a VC-Funds Type of Exit

2019 ◽  
pp. 99-129
Author(s):  
Dorota Podedworna-Tarnowska
Keyword(s):  
Initial Public Offering ◽  
Private Equity ◽  
Third Party ◽  
Going Public ◽  
Public Offerings ◽  
Advantages And Disadvantages ◽  
The Us ◽  
Portfolio Company ◽  
Venture Capital Firms ◽  
Public Offering

The key characteristic of private equity finance is that investors hold their investments only for a limited period of time. The key goal of VC funds is to grow the company to a point where it can be sold at a price that far exceeds the amount of capital invested. This process is called an exit or divestment. There are three basic types of exits: going public, being acquired by a larger corporation, a sale to a third-party investor.It is a widely believed and accepted proposition in private equity literature that the initial public offering of a private equity portfolio company is the most successful and profitable exit opportunity. However, according to the few sources of literature, public offerings are not the preferred divestment type for venture capital firms. Going public is one of the most critical decisions in the lifecycle of a firm. This is not easy, as the process is very comprehensive and complex. Hence, a lot of considerations should be taken into account. Because every investee firm is different, a development plan to achieve a successful exit takes into consideration a number of macroeconomic and microeconomic factors. Moreover, several advantages and disadvantages of exit through an IPO could be indicated. The objective of this paper is to show the success and profitability of going public by VC funds. The VC’s exit type as a way of cashing out on its investment in a portfolio company is a consequence of the exit strategy, which means the plan for generating profits for owners and investors of a company. While an IPO is the most spectacular and visible form of exit, it is not the most common one, as historically in the US it was, but still in Europe it has not been yet. There will be both literature and statistical data coming from different studies and reports used in this research.

scholarly journals The Deregulation of the Private Equity Markets and the Decline in IPOs

2020 ◽  
Author(s):  
Michael Ewens ◽  
Joan Farre-Mensa
Keyword(s):  
Bargaining Power ◽  
Private Equity ◽  
Market Failure ◽  
Equity Markets ◽  
Securities Markets ◽  
Private Capital ◽  
Going Public ◽  
Trade Off ◽  
Number Of Factors ◽  
Securities Laws

The deregulation of securities laws--in particular the National Securities Markets Improvement Act (NSMIA) of 1996--has increased the supply of private capital to late-stage private startups, which are now able to grow to a size that few private firms used to reach. NSMIA is one of a number of factors that have changed the going-public versus staying-private trade-off, helping bring about a new equilibrium where fewer startups go public, and those that do are older. This new equilibrium does not reflect an IPO market failure. Rather, founders are using their increased bargaining power vis-a-vis investors to stay private longer.

scholarly journals Underpricing, wealth loss for pre-existing shareholders and the cost of going public: the role of private equity backing in Italian IPOs

2011 ◽  
Vol 13 (1) ◽  
pp. 23-47 ◽  
Author(s):  
Riccardo Ferretti ◽  
Antonio Meles
Keyword(s):  
Private Equity ◽  
Going Public ◽  
The Cost

Going Public about Private Practice: The Good, the Bad, and the???

2007 ◽  
Author(s):  
Fran J. Levy ◽  
Jane Wilson Cathcart
Keyword(s):  
Private Practice ◽  
Going Public

Rivate Equity: Kauf und Verkauf auf dem Krankenhausmarkt

2019 ◽  
Vol 24 (03) ◽  
pp. 8-9
Author(s):  
Christoph Scheuplein
Keyword(s):  
Private Equity

Private Equity-Gesellschaften haben sich in den vergangenen Jahren stark auf dem deutschen Gesundheitsmarkt engagiert. So wurde der Gesundheitssektor im Jahr 2017 erstmals in Deutschland zum wichtigsten Anlagefeld für Beteiligungsgesellschaften. Dies umfasst auch Engagements auf dem Klinikmarkt.

Private Equity Finance

2009 ◽  
Author(s):  
Jamie Morgan
Keyword(s):  
Private Equity ◽  
Equity Finance

Dialogue between the Movie-Going Public and a Witness for Jean Cocteau

1955 ◽  
Vol 10 (2) ◽  
pp. 160-166
Author(s):  
Raymond Jean
Keyword(s):  
Going Public ◽  
Jean Cocteau

Going Public: Shopping, Street Harassment, and Streetwalking in Late Victorian London

1998 ◽  
Vol 62 (1) ◽  
pp. 1-30 ◽  
Author(s):  
Judith R. Walkowitz
Keyword(s):  
Going Public ◽  
Street Harassment
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