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17:
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181:
Private Equity
Accounting, Investor Reporting, and Beyond: Advanced Guide for Private Equity Managers, Institutional Investors, Investment Professionals, and Students
94:
Between 2003 and 2007, 188 companies controlled by private equity firms issued more than $ 75 billion in debt that was used to pay dividends to the buyout firms.
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402:
888:
319:
800:
71:. Therefore, the additional debt burden of a leveraged recapitalization makes a firm more vulnerable to unexpected business problems including
244:
189:
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622:
617:
151:
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40:
which is paid regularly from the company's earnings, a dividend recapitalization occurs when a company raises debt —e.g. by issuing
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234:
179:
1301:
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600:
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868:
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and
Company added leverage and took a $ 900 million dividend, "the third largest of 2015" in the private equity industry.
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investors are seeking to realize value from a private company but do not want to sell their interest in the business.
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of the company, or can be large changes involving a change in the power structure as well. As with other
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20:
Diagram of a dividend recapitalization where debt is issued to pay a dividend to shareholders
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Investment
Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions
72:
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1079:
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239:(Second ed.). Hoboken, NJ: John Wiley & Sons. p. 217.
36:
in which a payment is made to shareholders. As opposed to a typical
995:
152:"Dividend Recapitalizations: Cash Alternatives for Private Equity"
15:
47:
These types of recapitalization can be minor adjustments to the
903:
315:
207:"DEALBOOK; Private Equity Thrives Again, but Dark Shadows Loom"
82:
Typically a dividend recapitalization will be pursued when the
1547:
This private equity or venture capital-related article is a
1552:
205:
Creswell, Julie; Peter, Lattman (29 September 2010).
55:, if a firm cannot make its debt payments, meet its
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1287:
1135:
1025:
1014:
941:
716:
635:
559:
496:
453:
444:
401:
353:
97:In their relatively brief period of management of
297:"How the Twinkie Made the Super-Rich Even Richer"
262:"Profits for Buyout Firms as Company Debt Soared"
184:. Upper Saddle River, NJ: FT Press. p. 203.
1572:
915:
327:
8:
829:Private equity and venture capital investors
1579:
1565:
1516:
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1022:
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908:
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864:
844:
801:Taxation of private equity and hedge funds
618:Private investment in public equity (PIPE)
450:
334:
320:
312:
305:, December 10, 2016. Retrieved 2016-12-11.
233:Pearl, Joshua; Rosenbaum, Joshua (2013) .
139:
105:brand snack cakes and other products,
150:Bristow, Matthew (29 November 2010).
7:
1537:
1535:
145:
143:
295:Corkery, Michael, and Ben Protess,
1551:. You can help Knowledge (XXG) by
260:Creswell, Julie (4 October 2009).
14:
1539:
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1505:
884:
883:
874:
873:
863:
854:
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834:
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824:
823:
1302:Debtor-in-possession financing
601:Publicly traded private equity
1:
869:List of venture capital firms
1242:Staggered board of directors
849:List of private equity firms
606:Business Development Company
1359:Accretion/dilution analysis
1624:
1534:
1322:Leveraged recapitalization
693:High-net-worth individuals
483:Leveraged recapitalization
178:Stefanova, Mariya (2015).
128:Leveraged recapitalization
34:leveraged recapitalization
32:) in finance is a type of
1501:
1493:Valuation using multiples
1478:Sum-of-the-parts analysis
1448:Modigliani–Miller theorem
1307:Dividend recapitalization
1122:Secondary market offering
819:
581:Limited liability company
541:Venture capital financing
488:Dividend recapitalization
26:dividend recapitalization
1511:List of investment banks
1426:Free cash flow to equity
1252:Super-majority amendment
1177:Management due diligence
1117:Seasoned equity offering
107:Apollo Global Management
28:(often referred to as a
1222:Shareholder rights plan
1212:Post-merger integration
1182:Managerial entrenchment
1152:Contingent value rights
1092:Initial public offering
648:Institutional investors
1364:Adjusted present value
1227:Special-purpose entity
1065:Direct public offering
1035:At-the-market offering
786:Liquidation preference
751:Distribution waterfall
703:Sovereign wealth funds
53:leveraged transactions
44:to fund the dividend.
21:
1379:Conglomerate discount
859:Venture capital firms
611:Venture capital trust
67:which often leads to
19:
1608:Private equity stubs
1401:Economic value added
1396:Discounted cash flow
839:Private equity firms
567:Private equity firms
516:Post-money valuation
393:Equity co-investment
986:Senior secured debt
889:Portfolio companies
806:Undercapitalization
658:Insurance companies
576:Limited partnership
521:Pre-money valuation
111:C. Dean Metropoulos
63:its debt it enters
1521:Outline of finance
1433:Market value added
1416:Financial modeling
1374:Business valuation
1297:Debt restructuring
1075:Follow-on offering
1060:Corporate spin-off
1018:(terms/conditions)
935:investment banking
741:Capital commitment
511:Business incubator
478:Buy–sell agreement
302:The New York Times
267:The New York Times
212:The New York Times
157:The Journal Record
65:financial distress
22:
1598:Financial capital
1560:
1559:
1529:
1528:
1453:Net present value
1438:Minority interest
1369:Associate company
1345:
1344:
1312:Financial sponsor
1232:Special situation
1202:Pre-emption right
1192:Minority discount
1102:Private placement
1001:Subordinated debt
956:Exchangeable debt
943:Capital structure
931:Corporate finance
897:
896:
746:Capital structure
631:
630:
473:Divisional buyout
468:Management buyout
463:Financial sponsor
246:978-1-118-72776-8
191:978-0-13-376152-8
49:capital structure
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1411:Fairness opinion
1406:Enterprise value
1389:Weighted average
1317:Leveraged buyout
1172:Drag-along right
1070:Equity carve-out
1027:Equity offerings
1023:
1019:
991:Shareholder loan
976:Second lien debt
971:Preferred equity
951:Convertible debt
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688:Commercial banks
678:Investment banks
586:Carried interest
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354:Investment types
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77:financial crises
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1473:Stock valuation
1468:Residual income
1384:Cost of capital
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1337:Project finance
1327:High-yield debt
1283:
1262:Tag-along right
1187:Mandatory offer
1157:Control premium
1138:
1131:
1107:Public offering
1055:Bought out deal
1017:
1016:
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937:
928:
898:
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879:Angel investors
815:
766:High-yield debt
719:financial terms
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536:Startup company
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347:venture capital
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1488:Terminal value
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1421:Free cash flow
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961:Mezzanine debt
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591:Management fee
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506:Angel investor
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343:Private equity
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123:Private equity
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99:Hostess Brands
91:
88:
57:loan covenants
30:dividend recap
13:
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1040:Book building
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663:Fund of funds
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653:Pension funds
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551:Venture round
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411:Early history
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18:
1553:expanding it
1546:
1531:
1463:Real options
1306:
1279:Tender offer
1139:acquisitions
1127:Underwriting
1112:Rights issue
1015:Transactions
811:Vintage year
736:Capital call
708:Crowdfunding
643:Corporations
546:Venture debt
487:
300:
291:
279:. Retrieved
265:
255:
235:
228:
216:. Retrieved
210:
200:
180:
173:
161:. Retrieved
155:
96:
93:
81:
46:
29:
25:
23:
1237:Squeeze-out
1207:Proxy fight
1137:Mergers and
1050:Bought deal
981:Senior debt
673:Foundations
596:Pledge fund
388:Secondaries
281:12 February
218:12 February
163:12 February
101:, maker of
1592:Categories
1483:Tax shield
1443:Mismarking
1247:Stock swap
1197:Pitch book
1167:Divestment
1045:Bookrunner
966:Pari passu
761:Envy ratio
668:Endowments
531:Seed money
445:Terms and
134:References
73:recessions
69:bankruptcy
1603:Dividends
1458:Pure play
1351:Valuation
1217:Sell side
1080:Greenshoe
731:Cap table
636:Investors
560:Structure
378:Mezzanine
366:Leveraged
276:0362-4331
1289:Leverage
1267:Takeover
1162:Demerger
1147:Buy side
781:Leverage
717:Related
447:concepts
117:See also
61:rollover
38:dividend
1272:Reverse
1257:Synergy
1097:Pre-IPO
1085:Reverse
1006:Warrant
791:M&A
498:Venture
403:History
373:Venture
103:Twinkie
90:Example
756:EBITDA
455:Buyout
383:Growth
361:Buyout
274:
243:
188:
84:equity
996:Stock
571:funds
436:2020s
431:2010s
426:2000s
421:1990s
416:1980s
42:bonds
1549:stub
933:and
623:SPAC
569:and
526:SAFE
345:and
283:2020
272:ISSN
241:ISBN
220:2020
186:ISBN
165:2020
109:and
75:and
796:PME
776:IRR
771:IPO
726:AUM
59:or
1594::
299:,
270:.
264:.
209:.
154:.
142:^
79:.
24:A
1580:e
1573:t
1566:v
1555:.
923:e
916:t
909:v
335:e
328:t
321:v
285:.
249:.
222:.
194:.
167:.
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