scholarly journals The Role of the Polish Private Equity Sector in the CEE Region

2019 ◽  
pp. 131-142
Author(s):  
Jacek Grzywacz ◽  
Ewa Jagodzińska-Komar
Keyword(s):  
Private Equity ◽  
Western Europe ◽  
Early Stage ◽  
Developed Countries ◽  
Equity Market ◽  
Growth Potential ◽  
Equity Funds ◽  
Private Equity Funds ◽  
The Impact

The aim of the article is to analyse the position of the Polish private equity sector as a leading player in the CEE region and to assess the impact of these funds on economic development. It has been pointed out that the fund sector is operating in an increasingly unpredictable environment (which could be seen during the financial crisis) and operates based on demanding regulations and growing risk. The paper presents the role of private equity funds in the CEE region, which by 2004 had seen a noticeably faster growth than in Western Europe, due to the transition to a market economy. The Polish private equity market in the CEE region was further analysed, which as the largest economy in the CEE region is a very attractive place for investors. The conclusions and directions of the role of private equity funds were presented, and it was emphasised that Poland and the whole CEE region are at an early stage of their market development, but their distance to Western Europe decreases from year to year. Currently, the CEE private equity market in the most developed countries offers great opportunities to its investors thanks to high competition, high growth potential and comprehensive solutions.

scholarly journals The Impact of the Subprime Crisis on the Course

Equilibrium ◽  
2011 ◽  
Vol 6 (2) ◽  
pp. 7-22 ◽  
Author(s):  
Alina Gorczyńska
Keyword(s):  
Mergers And Acquisitions ◽  
Private Equity ◽  
Developed Countries ◽  
Subprime Crisis ◽  
Equity Funds ◽  
Noticeable Improvement ◽  
Private Equity Funds ◽  
Reducing Costs ◽  
The Developed Countries ◽  
The Impact

The subprime crisis limited the investment activities of economic entities. The manifestation of the crisis was the decrease in the quantity and value of cross-border consolidation processes. These trends were especially visible in the developed countries. The main reasons for the reduction of mergers and acquisitions were the restrictions of access to external capital due to the collapse of stock markets, banks crash, the decline of private equity activity and decrease of the financial health of businesses as well as market pessimism. In addition to reduction and therefore cancellation of several mergers and acquisitions, these factors forced certain actions upon the consolidating companies. Among other things, they led to restructuring activities aimed at reducing costs. They also contributed to a number of divestments. Since the second half of 2009, there has been a noticeable improvement of the financial situation of enterprises, as well as of general economic indicators (GDP). However, these phenomena are still accompanied by unregulated financial markets situation, inter alia, concerning the regulation limiting the emergence of financial crises, including relation to the activities of private equity funds. Therefore, it is difficult to determine whether the period of crisis in relation to transactions of consolidation is over, and if we can talk about recovery in the course of these processes.

Industry-Wise Investment Pattern of Select Private Equity Funds in India

2018 ◽  
Keyword(s):  
Financial Services ◽  
Private Equity ◽  
Equity Fund ◽  
Equity Investment ◽  
Private Equity Fund ◽  
Investment Pattern ◽  
Equity Funds ◽  
Private Equity Funds ◽  
Indispensable Tool

The article is an analysis of Private Equity investment deal values across 24 industries by select Private Equity funds from 2007–2016. The purpose of the research is to identify any patterns of movement of deal values. The study established the growth rate of deal values and observed the performance of each Private Equity fund throughout the 10-year period. The purpose of the study is to determine the significance of Private Equity investment for the promotion, growth, and development of industries. In the case of heavy industries such as Energy, Engineering and Construction and Manufacturing, Private Equity investment becomes inevitable, at least as a supplement to government funding. Due to rising disposable income and purchasing power of people, industries such as BFSI (Banking, Financial Services, and Insurance) Retail, and other services such as Travel, Transport, and Telecom are also attracting considerable Private Equity. The role of Private Equity as an indispensable tool for industrialization is emerging and becoming dynamic. Furthermore, the government’s go-ahead attitude towards reforms is further boosting Private Equity investment’s opportunities and impact on India’s economic development.

The Private Equity Market

2020 ◽  
pp. 1-39
Author(s):  
John Gilligan ◽  
Mike Wright
Keyword(s):  
Private Equity ◽  
Early Stage ◽  
Equity Market ◽  
Capital Investments ◽  
Risk Capital ◽  
Equity Fund ◽  
Public Markets ◽  
Private Equity Fund ◽  
Fund Managers ◽  
Equity Funds

This chapter defines private equity, describes the origins of the private equity market, and examines the data on the size and growth of the private equity industry. Private equity is risk capital provided outside the public markets. The businesses invested in by private equity range from early stage ventures, usually termed venture capital investments, through businesses requiring growth or development capital to the purchase of an established business in a management buyout or buy-in. Much, but not all, of the investing done in the private equity market is by private equity funds. The objective of a private equity fund is to invest equity or risk capital in a portfolio of private companies which are identified and researched by the private equity fund managers. The chapter then considers what private equity fund managers do. It also provides a brief history of private equity before assessing how big the private equity market is.

scholarly journals Comparative Analysis of Private Equity Market in Poland and Other Central and Eastern European Countries

2011 ◽  
Vol 13 (5) ◽  
pp. 87-107
Author(s):  
Tomasz Sosnowski
Keyword(s):  
Comparative Analysis ◽  
Private Equity ◽  
Central And Eastern Europe ◽  
Equity Market ◽  
Development Stage ◽  
Eastern European ◽  
Main Emphasis ◽  
Equity Funds ◽  
Private Equity Funds ◽  
Eastern European Countries

The main goal of this article is an analysis of the development stage attained by the private equity market in Poland and its comparison with similar markets in other countries of Central and Eastern Europe. The main emphasis has been laid on the very essence of this source of capital and its importance for development of small and medium-sized enterprises. The performed analysis has allowed to verity the hypothesis saying that private equity funds in Poland display a greater involvement in comparison with such funds in the remaining countries of this region, which is confirmed by the value of capital invested in Polish enterprises and the value of divestments in Poland. The empirical data used in this article come from statistical reports of the European Private Equity and Venture Capital Association.

scholarly journals ASSESSMENT OF THE INVESTMENT PROJECT EFFECTIVENESS FOR THE ACQUISITION OF COMPANIES BY THE DIRECT INVESTMENT FUND

2020 ◽  
pp. 164-171
Author(s):  
G. G. Utenov
Keyword(s):  
High Performance ◽  
Private Equity ◽  
Investment Project ◽  
Operational Efficiency ◽  
Investment Fund ◽  
Investment Projects ◽  
Private Equity Fund ◽  
Equity Funds ◽  
Private Equity Funds ◽  
The Impact

The performance of investment projects in acquisitions of companies by private equity funds has been explored by assessing the financial and valuation results of such transactions in two directions: change in the valuation multiple of an acquired company over the period of the investment project and the impact of a fund on a company’s operational efficiency. As a result of the analysis, the hypothesis of the higher EV/EBITDA exit multiple of the private equity fund compared to the same entry multiple was not confirmed. However, the hypothesis that private equity funds are able to increase the operational efficiency of portfolio companies on average better than other types of investors, confirms the effectiveness of private equity funds and high performance of such investment projects.

scholarly journals Financing Sources of Exploration Works in the Light of Risk Related to their Activity

2021 ◽  
Vol 1 (1) ◽  
Author(s):  
Arkadiusz KUSTRA ◽  
Barbara KOWAL ◽  
Robert RANOSZ
Keyword(s):  
Capital Markets ◽  
Private Equity ◽  
Equity Capital ◽  
Equity Funds ◽  
Private Equity Funds ◽  
Definition Of ◽  
High Level ◽  
Level Of Risk

The article presents an overview of the determinants of exploration works and the definition of the role of junior mines in those processes. Junior mines, as special purpose vehicles, focus on the stages of exploration and documenting of the deposits, without going into theoperational stage related to the exploitation. Due to their nature, those entities finance their activities with equity capital in the formof share issues on the capital markets, addressing their proprietory securities to investors who accept a high level of risk. The largeststock exchanges on which the exploration companies obtain the required funds have been identified, and the trends that complementcapital raising, concerning the involvement of private equity funds, have been presented.

scholarly journals Extracting rents through foreclosures: The rescue of Catalunya Banc as a new urban strategy following the burst of the Spanish bubble

2017 ◽  
Vol 21 (4) ◽  
pp. 151-159 ◽  
Author(s):  
Sònia Vives-Miró ◽  
Aaron Gutiérrez
Keyword(s):  
Real Estate ◽  
Private Equity ◽  
The Real Estate ◽  
Role Of The State ◽  
Equity Funds ◽  
Private Equity Funds ◽  
Mortgage Foreclosures ◽  
Urban Strategy ◽  
Spanish Model

AbstractUsing the paradigmatic example of Catalunya Banc, this paper analyses the Spanish varieties of the new financial engineering used to appropriate urban rent by home dispossession. It aims to contribute to the study of the new forms of financialization that have appeared since 2008. Particular attention is given to the role of the state, the emergence of private equity funds as global real estate owners and how this has translated into a wave of evictions due to mortgage foreclosures. In short, this article highlights the implications of the uneven development resulting from the exhaustion of the so-called Spanish model of accumulation during the real estate boom years.

scholarly journals Venture Capital and Private Equity Investment Strategies in Selected European Countries

e-Finanse ◽  
2015 ◽  
Vol 11 (4) ◽  
pp. 34-45
Author(s):  
Krzysztof Dziekoński ◽  
Sławomir Ignatiuk
Keyword(s):  
Venture Capital ◽  
Private Equity ◽  
Research Question ◽  
High Growth ◽  
Equity Capital ◽  
Growth Potential ◽  
Investment Strategies ◽  
Equity Funds ◽  
Private Equity Funds ◽  
Entrepreneurial Activities

Abstract Private equity and venture capital (PE/VC) funding is the provision of equity capital by financial investors to non-quoted companies with high growth potential. It has a particular emphasis on entrepreneurial activities rather than on mature businesses. PE/VC investors differ on several dimensions including: investment targets, screening evaluation methods, governance mechanisms, and objectives. The paper is a continuation of the discussion that concerns investment strategies of PE/VC funds. While studying the PE/VC market it is important to analyze the origin and structure of capital. The authors assumed that different types of investors have different investment strategies. Our research is an attempt to answer the following research question: whether the investor type, on the European PE/VC market, has an impact on the selection of industries. The paper presents results of statistical analysis of venture capital and private equity funds investment strategies in selected countries.

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