Mastering Private Equity - Prahl Michael

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is an industry term for private companies with valuations above US$1 billion.

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Please refer to Chapter 3 Growth Equity and Chapter 4 Buyouts for in-depth discussions.

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Chapter 19 Performance Reporting explains the dynamics of fund-level returns in greater detail.

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Chapter 18 LP Portfolio Management discusses the decision-making process when allocating to PE in detail.

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Please refer to Chapter 7 Target Valuation for a worked-out example on VC valuation.

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Kauffman Foundation; ‘We have met the enemy – and he is us’; (2012).

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Please refer to Chapter 9 Deal Structuring and to the Glossary in the back of the book for more details on the different share classes used in VC.

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See Chapter 7 Target Valuation for further details on VC valuation techniques and a worked example.

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Subtracting invested capital from a post-money valuation establishes the “pre-money” valuation.

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Club deals are PE investments made by two or three PE funds; they were particularly fashionable for large buyouts during the years leading up to the global financial crisis in 2008.

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Existing investors often participate in subsequent rounds to maintain their ownership percentage in the business and to signal both their continued support and overall health of the business.

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More information on deal documentation can be found in Chapter 10 .

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