私人产权is one of the most vaunted types of work in finance and私募股权访谈are notoriously challenging. The typical route into private equity is after having spent 2 years at a top investment bank and / or completing anMBAat a top business school. For an excellent insight into the Private Equity world, read "Barbarians at the Gate“哪个细节LBOr.j.r.Nabisco byKKR.在20世纪80年代。
What Is Private Equity?
私募股权在金融界之外不太众所周知，但它是全球业务的关键参与者之一。私募股权公司是传说中的“买方”的一部分，其中一些最大的公司（Megafunds）是：- Kohlberg, Kravis & Roberts (KKR)
- Blackstone
- 贝恩之都
- 凯莱尔集团
这definition of private equityis simply money invested into a private company, or the privatization of a company through the investment of outside money. Basically, what private equity firms attempt to do is to invest into a company, take a majority stake, improve the company and then exit their investment at a large profit. In order to magnify returns,PEfirms make use of leverage (borrowed money) to conduct Leveraged Buyouts (LBOs).
私募股权公司可以专注于特定部门（能源，技术，医疗保健等）或在广泛的范围内运营。坚定的越大，覆盖更多扇区的可能性越大。
How Do Private Equity Firms Work?
PE公司通常将获得100％的目标公司，并利用现金和债务的组合来为收购融资。使用债务的优势在于，该公司必须投资较少的现金，因此股权回报率较高，他们可以承担更大/更多的投资。当目标公司获得时，未来的现金流量用于偿还使用的债务。如果是PEfirm in question is using leverage, they will require a financial sponsor (typically a bank) to loan them the money.这aim of the investment by thePE公司是为了开展业务，增加其价值，然后销售它在业务中的份额。通常，PEfirms will target 20% return per year. The way the firm will improve the business can be anything from replacing the management, reducing costs, improving efficiency or many other possible actions. Private Equity investments are usually not that risky (at least compared to VC) because the target firm is usually quite large and is unlikely to collapse in value.
What Do You Do In Private Equity
As a junior employee inPE，您的工作实际上与投资银行相似，但数小时（通常）少，工资（通常）更多。bob竞技体育游戏这项工作将涉及估值的公司，为合并的建模/LBOs, conductingDCFanalysis etc.
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