Thinking

Thinking

August 4, 2018

Trends: Tapping the opportunities offered by China unicorns

Although Silicon Valley has been a dominant force in the technology innovation and venture capital (VC) space, China is quickly catching up and its exponential growth is presenting investment opportunities. Nevertheless, it may be difficult for foreign investors to access this sector directly, say academics at INSEAD. According to Claudia

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August 4, 2018

Why Venture Capitalists Should Invest Like Poker Players

The private equity (PE) model is well established. PE investors analyse hundreds of companies and opportunities in detail before buying a minority or majority stake in a good company, which they manage over a few years with the goal of achieving a profitable exit. Rarely do PE funds deal with write-offs, and PE-owned companies in distress are known to do

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July 6, 2018

Can Private Equity Reinvent Itself as Patient Capital?

Private equity is seeing unprecedented capital inflows from institutional investors, amid sustained low-interest rates, return compression across traditional asset classes and concerns that the longest-running bull market in post-war history may soon end. A new product has attracted a meaningful slice of those allocations – private equity funds with a lifespan of 15-20 years.

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June 3, 2018

Business Model Innovation Comes to Private Equity

Many investment firms go beyond leveraged buyouts to build sector-specific investment ecosystems. When PE giant KKR created Emerald Media, a $300 million equity-based platform, in late 2015, its investment model exemplified a stark contrast to the traditional PE investment strategy of a standalone buyout, re-structure and exit. A “platform” consists

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May 27, 2018

Q&A: Claudia Zeisberger, INSEAD

Claudia Zeisberger, a professor focused on private equity at French business school INSEAD, discusses her work and how a new generation entering private equity might change the industry. Last year you published Mastering Private Equity: Transformation via Venture Capital, Minority Investments and Buyouts. Who is the book for and why was

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April 30, 2018

Impact Investing Comes Into Its Own

A discussion with Kevin Lu, Chairman for Asia at Partners Group and Distinguished Fellow at INSEAD’s GPEI. In 2010, INSEAD’s Global Private Equity Initiative (GPEI) started to explore the nascent trend of responsible investing. In 2014, it published its first report on environmental, social and governance (ESG) factors within the private equity

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March 27, 2018

INSEAD Celebrates Women - Claudia Zeisberger

The right private equity partner can play a significant role in this process by opening doors, improving processes and facilitating a smooth generational handover. Family firms account for 70% of GDP globally and 60% of global employment and are key drivers of economic growth and business innovation.

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March 24, 2018

Mastering Private Equity - New Book from INSEAD leads the way in ...

Claudia Zeisberger, an award-winning professor at world-renowned business school INSEAD, initiated the launch of the school’s Global Private Equity Initiative in 2008. Now, the Senior Affiliate Professor of Decision Sciences and Entrepreneurship—who teaches in the school’s MBA and EMBA programs as well as in multiple executive education programs—has released a

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March 24, 2018

Research: The Institutionalization of Family Firms from Asia-Paci...

As family offices grow in Asia, issues such as institutionalization and succession planning are becoming more important in the region, according to recent findings from INSEAD.

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March 12, 2018

Time for Boards to see Private Equity as more than a financial in...

The model and workings of the Private Equity (PE) has evolved over the years. The image of vultures seeking to prey on underperforming companies with steady cash flows in heavily leveraged transactions and riding the investment out to a successful exit has developed to one of highly proficient transformation agents seeking to impact businesses at critical junctures of their development.

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March 12, 2018

From “Barbarians” to Skilled Industrialists

Some 41 years ago, George Roberts, Jerry Kohlberg and Henry Kravis pulled together US$120,000 to form their first private equity (PE) fund. There were no such funds in those days and nobody else appeared to be doing what was then called leveraged buyouts. Little did they know that they were starting an industry.

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March 9, 2018

Selling the family business in S-E Asia - pitfalls and a roadmap

GOOD investment opportunities are extremely sought after and privately-owned businesses make increasingly attractive targets. For family businesses in South-east Asia, the option of “cashing out” or (partially) selling the business has become an intriguing option worthwhile exploring.

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November 21, 2017

Podcast: Institutionalization of Family Firms — Claudia Zeisber...

The question seems simple: How Can Family Firms Ensure Long-Term Value Creation? But as a new report – based on interviews 123 Asia-based family firms and 14 private equity professionals – shows, the answer may be more complicated. The report is titled “The Institutionalization of Family Firms,” and it covers a

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November 3, 2017

Can Asean compete with China and India for private capital?

If a California venture capitalist were to take a New Yorker’s view of Asia, it might look something like this – Japan in the foreground, China looming at the top, India rising in the far distance and then the “flyover” states of Asean dotting the middle ground.

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November 1, 2017

Podcast: Mastering Private Equity & What’s Next — Claudia Zei...

For years, Claudia Zeisberger has found herself being asked what might seem like a straightforward question: What is Private Equity. It also might seem like a surprising question, given that global private equity assets under management run at about $2.5 trillion. It’s not like we’re talking about some hidden asset class. But

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October 17, 2017

Success attracts new players to private equity

Private Equity is a fringe asset class no more; it has evolved, matured and refined its way into the mainstream. Yet, I foresee major changes for the industry and, fully aware that forward-looking statements have a tendency to dramatically stray from future reality, wish to dare a glimpse of what may come.

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October 2, 2017

PE investments in emerging markets

Private Equity in Action takes you on a tour of the PE investment world through a series of case studies written by INSEAD faculty and taught at the world’s leading business schools. This is an excerpt from a case study on PE investments in Asia.   On a balmy evening

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