La nouvelle démographie des LBO et de l’industrie du Private Equity

Patrick Navatte

Revue française de gestion, 2018, vol. N° 271, issue 2, 83-98

Abstract: Today we face a huge heterogeneity of the LBO deals and the rise of a supplementary business model among Private Equity companies. In the past, funds looked for a drastic cost cuttings scheme in LBO targets before selling them back quickly. Today because of the crisis and lack of appropriate LBO targets, they promote a long-term vision of the deals. Funds try to detect high potential companies and concretize all their potentialities. This novelty explains partly the surge of secondary buyouts. Our aim is, with the help of a literature survey, to study the diversity of these deals and assess the target company performances. It is also to understand funds? strategy, knowing the low cost of debt, the occurrence of a crisis, and the existence of a choppy stock market at the same time.

Date: 2018
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