When founders sell to private equity, they often focus on the first transaction. The valuation.The rollover.The governance shift. But private equity ownership is rarely a single event. It is a cycle. And when that cycle …
In private equity, not all liquidity events require a full sale. Sometimes, cash comes out before the final exit. That mechanism is called a dividend recapitalization—commonly referred to as a “dividend recap.” For founders and …
Not every private equity exit involves a strategic buyer or an IPO. In fact, one of the most common exit pathways in private equity today is something called a secondary buyout. A secondary buyout is …
For many founders, the idea of an IPO represents the pinnacle of entrepreneurial achievement. The bell ringing.The ticker symbol.The validation. But an IPO is not a trophy. It’s a capital markets strategy. And for larger, …
A few years ago, SPACs were everywhere. Financial headlines were filled with them. Founders were fielding inbound calls from sponsors promising speed, certainty, and public-market access without the traditional IPO roadshow. Investment banks were launching …
For many founders, there are two headline exit paths that feel transformational. Take the company public. Or sell to a private equity firm. Both can create liquidity. Both can validate years of work. Both can …
When founders think about selling their company, they usually focus on valuation, buyers, and timing. What many don’t fully appreciate is the invisible engine driving all of it: capital markets. Capital markets influence how much …
Private equity is no longer constrained by geography. Capital flows globally. Funds raised in New York invest in Europe. European sponsors acquire U.S.-based founder-led businesses. Middle Eastern sovereign-backed platforms pursue North American targets. Cross-border transactions …
A decade ago, ESG was often treated as a branding exercise. Today, it’s embedded in underwriting models. Environmental, Social, and Governance considerations have moved from the margins of private equity discussions to the center of …
Interest rates don’t just affect mortgages and credit cards. They shape the entire economics of private equity. If you understand leveraged buyouts—LBOs—you understand that debt is central to the model. And when the cost of …