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Trang 9This page intentionally left blank
Trang 10A
Acquisition see Merger and acquisition
Adjusted present value (APV),
company valuation , 182 – 183 ,
197 – 198
Agency theory, overview , 28 , 30 – 32 ,
31f
AMC see Asset management company
APV see Adjusted present value
Asset management company (AMC)
carried interest , 59 , 60f
close-end fund relationship , 56 – 59 ,
56f
costs and revenues , 57 – 58
management fee , 58
overview , 42
Asset option, company valuation , 183
B
Balance sheet, company valuation ,
190 – 191 , 190f
BALTD, fi nancing history , 235 – 236
Bank
European Union legislation , 42 – 43 ,
43f
Basel II framework , 45 – 46
United States regulation of private
equity investment , 71
Basel II, bank and investment fi rm
rules , 45 – 46
BIMBO see Buy in management buy
out
Board of directors, venture capitalist
involvement , 146
BOLT, fi nancing history , 249 – 250
Book value (BV), company valuation ,
195
Business Angel early stage fi nancing , 209 – 210 fundraising , 122
motivation and criteria , 212 – 219 United Kingdom regulation , 75 United States regulation , 71 – 72 Business plan, analysis in valuation ,
133 , 177 – 179 , 177f Buy back, exit strategy , 162 Buy in management buy out (BIMBO) ,
238 see also Buy out
Buy out characteristics corporate governance , 241 – 242
fi nancial structure , 240 – 241 conditions for good buy out ,
244 – 251 managed risk , 211 – 212 overview , 237 – 240 prospects , 293 types , 267 – 268 valuation , 210 – 211
BV see Book value
C
Calling plan, fundraising , 127 – 128 Capital Asset Pricing Model (CAPM), company valuation , 193 – 194
Capital gains tax see Taxation
Capital-structure irrelevance theory, overview , 28 , 29
CAPM see Capital Asset Pricing Model
Carried interest asset management company , 59 , 60f close-end fund , 59
regulation in United States and United Kingdom , 77