IVSC

MARCH 31, 2025

The FCAs review, covering 36 firms managing 3 trillion of assets, identified examples of weaker governance, concerns about independence and inconsistent documentation. There were also instances where firms did not maintain proper documentation of independent review and challenge processes. This shift reflects a broader global trend.

Marketability 100

Marketability Equity Intangible Assets Compliance 100

Harvard Corporate Governance

JANUARY 25, 2023

ISS recently issued Frequently Asked Questions (FAQs) documents related to equity compensation plans, the peer group selection methodology and issuer submission process, and compensation policies. Fried; and Rationalizing the Dodd-Frank (discussed on the Forum here ) by Jesse M.

Equity 130

Equity 130

Brian DeChesare

JANUARY 24, 2024

Let’s start with the elephant in the room: yes, we’ve covered the growth equity case study before, but I’m doing it again because I don’t think the previous examples were great. So, you can think of this example and tutorial as “Growth Equity Case Study: The Final Form.” They over-complicated the financial model (e.g.,

Equity 105

Equity Private Equity Firm Start-ups Comps 105

Harvard Corporate Governance

JUNE 2, 2023

The purpose of the Initiative is to monitor these corporate responses and follow up with companies to ensure that the statements of support for racial justice are translated into concrete actions that truly promote equity thereby helping them on the path to end corporate complicity in systemic racism. more…)

Equity 189

Equity 189

Benzinga

JULY 19, 2024

in an all-cash transaction valued at approximately $139 million in equity. Augmedix delivers AI medical documentation products to healthcare systems, physician practices, hospitals, and telemedicine practitioners. (NASDAQ: AUGX ) will be acquired by Commure, Inc., Under the agreement, Augmedix stockholders will receive $2.35

Equity 64

Equity 64

Brian DeChesare

NOVEMBER 30, 2022

Your first thoughts reading this article might be, “Wait a minute, why are ‘private equity exit opportunities’ a topic? But despite the hype, people do leave private equity all the time, whether it’s voluntary or forced. Why Leave Private Equity? Or you don’t like the required documents, memos, and process work.

Equity 98

Equity Banking Start-ups Marketability 98

Brian DeChesare

AUGUST 16, 2023

As with investment banking in Hong Kong , I can summarize private equity in China in one sentence: “If you’re not Chinese, don’t even think about it, and even if you are Chinese, it’s best if you have great connections within the CCP and want to stay in China long-term.”

Equity 94

Equity Banking Start-ups Private Equity Firm 94

Harvard Corporate Governance

OCTOBER 4, 2023

Related research from the Program on Corporate Governance includes The Law and Economics of Equity Swap Disclosure (discussed on the Forum here ) by Lucian Bebchuk; and Pre-Disclosure Accumulations by Activist Investors: Evidence and Policy by Lucian Bebchuk, Alon P. Brav, Robert J. more…)

Equity 203

Equity 203

Harvard Corporate Governance

AUGUST 3, 2022

Wang; and Share Repurchases, Equity Issuances, and the Optimal Design of Executive Pay (discussed on the Forum here ) by Jesse Fried. Specifically, we document trends in repurchases, and compare trading volume, share price performance, CEO pay, and corporate financial activities (e.g.,

Corporate Finance 203

Corporate Finance Finance Dividends Marketability 203

Harvard Corporate Governance

JULY 19, 2022

In a new working paper , we examine what quantitative human capital disclosures look like for more than 2,000 publicly traded firms and document how they changed in response to the amendment to Reg S-K. more…).

Technology 214

Technology Equity 214

Harvard Corporate Governance

SEPTEMBER 14, 2024

Although portability has not been a common feature of loan documentation, during the past 12 months, private equity sponsors have increasingly looked to take advantage of portable debt facilities to support M&A transaction flow. This post is based on their White & Case memorandum. more…)

Equity 113

Equity Marketability 113

Harvard Corporate Governance

JULY 5, 2022

Consequently, the demand for equities falls due to ESG uncertainty, even for green firms. For perspective, previous literature which considers ESG preference but ignores ESG uncertainty documented an increasing demand for risky assets and a negative greenium, i.e., brown stocks always outperform green stocks. more…).

Finance 229

Finance Equity Marketability 229

Harvard Corporate Governance

NOVEMBER 30, 2022

are most often presented in the form of a bylaw amendment, thereby incorporating the proponent’s “ask” in the company’s governing documents. Racial Equity Audits. We have codified our approach to proposals requesting that companies undertake racial equity or civil rights audits. Additionally, whereas in the U.S.

Equity 239

Equity Marketability 239

Equidam

AUGUST 10, 2023

Guest post from an Equidam partner: Bianca Iulia Simion , Marketing Lead at SeedBlink As the world of startups continues to evolve and mature, navigating the intricacies of equity management has emerged as a critical aspect of successful entrepreneurship. This leads to confusion and potential conflict during fundraising rounds.

Equity 52

Equity Capital Structure Dividends Marketability 52

Business Wire M&A

FEBRUARY 3, 2023

AUSTIN, Texas--(BUSINESS WIRE)--MSB School Services (MSB), a leading provider of special education software purpose-built for educators in K-12, announced today the acquisition of the company by Dallas-based private equity firm Craftsman Capital.

Private Equity Firm 52

Private Equity Firm Equity 52

Scott Mashuda

DECEMBER 19, 2024

With private equity firms sitting on dry powder and hungry for quality acquisitions, business owners contemplating an exit face perhaps their most favorable environment in years. This shift from inflation-fighting to growth stimulus has fundamentally altered market dynamics, putting sellers firmly in control.

Marketability 52

Marketability Private Equity Firm Equity Banking 52

LaPorte

MARCH 21, 2023

(authored by RSM US LLP) Taxpayers intending to treat cash advances as debt for tax purpose should ensure the debt is properly documented, as illustrated by a recent ruling. The post Tax Court denies bad debt deduction; advances were equity and not debt first appeared on LaPorte.

Equity 52

Equity 52

Sun Acquisitions

SEPTEMBER 9, 2022

If it makes financial sense and you understand the dilution aspect of selling equity and the potential interference from investors, then yes, go ahead. In this post, we’re going to address what these are, some of the challenges to expect, how to sell the equity, and who to sell it to. Selling equity – the good, the bad, the ugly.

Equity 52

Equity Start-ups Private Equity Firm Business Valuation 52

Equidam

MARCH 23, 2023

Cap Table Cap table management tools can help you keep track of your equity and ownership percentages as you take on investment and bring on new team members. Carta : A comprehensive platform for cap table management, offering equity management, compliance, valuation, and liquidity services.

Compliance 105

Compliance Equity Marketability 105

Harvard Corporate Governance

APRIL 28, 2023

To shed light on this topic, our paper, Four Facts About ESG Beliefs and Investor Portfolios , documents four facts about ESG investing among a large group of retail investors, using a novel panel data set that connects survey data on ESG beliefs with administrative data on investor portfolios.

Finance 226

Finance Marketability Equity 226

Reynolds Holding

MAY 20, 2024

One of the keys of successful private equity investing is properly aligning the economic incentives and interests of the sponsor and its portfolio companies’ management teams as they evolve over time. private equity transactions, sponsors now often grant tax-advantaged profits interests to the U.S.

Equity 45

Equity Fair Market Value Dividends Marketability 45

Brian DeChesare

FEBRUARY 22, 2023

Sell-Side Definition: In the finance industry, “buy-side firms” raise money from institutions and wealthy individuals and invest on their behalf, profiting from management fees, performance fees, or both; “sell-side firms” earn money from commissions charged to facilitate deals and to sell, market, and trade equity, debt, and other securities.

Finance 130

Finance Marketability Banking Corporate Finance 130

Brian DeChesare

OCTOBER 12, 2022

If you search for “how to start a private equity firm” online, you’ll find results that range from useless to tangentially useful to occasional nuggets of real wisdom. Starting a private equity firm is a bad decision for ~95% of people who work in the finance industry. How Does It Work? Degrees such as an MBA or a Ph.D.

Private Equity Firm 59

Private Equity Firm Equity Start-ups Marketability 59

Harvard Corporate Governance

JUNE 30, 2022

As has been well documented, the share prices of many companies (particularly many of these same tech companies) have declined. These declines have occurred due to one or a combination of factors, such as valuations returning to less frothy levels, macroeconomic headwinds, interest rate increases and/or geopolitical factors.

Technology 188

Technology Equity 188

Sun Acquisitions

JANUARY 8, 2025

This is music to the ears of strategic acquirers and private equity firms. Sellers should also streamline all operations and document standard operating procedures. Private equity buyers who are after targets with stable cash flows and growth potential. Because streamlined and orderly procedures are essential for scalability.

Private Equity Firm 105

Private Equity Firm Marketability Technology Equity 105

Brian DeChesare

DECEMBER 4, 2024

But this started changing in the 2010s and early 2020s as team values skyrocketed and billionaires, sovereign wealth funds , and sports private equity firms all jumped into the sector. Regulations – Does the league allow private equity or other financial sponsor ownership? What is Sports Investment Banking? Can teams carry debt?

Banking 105

Banking Finance Technology Equity 105

Brian DeChesare

MAY 4, 2022

Worst Case Outcome: Elon loses ~90%+ of his invested equity and gets a very negative IRR. If you want the full tutorial, Excel model, highlighted documents, and more about the most important technical points, keep reading: The Video Tutorial, Excel File, Documents, and More. Twitter – Financing/Loan Document for LBO (PDF).

EBITDA 111

EBITDA Start-ups Finance Equity 111

BV Specialists

MAY 6, 2024

Take time to go through your financial documents with the appraiser so they understand the adjustments that should be made to non-recurring and discretionary expenses so you can present the optimal profitability of the company.

Fair Market Value 85

Fair Market Value Appraisal EBITDA Equity 85

ThomsonReuters

JULY 14, 2022

The child’s family sued the plan, plan administrator, and claims administrator for (among other things) violating the Mental Health Parity and Addiction Equity Act (MHPAEA). A self-insured health plan denied coverage for a minor child’s residential mental health treatment, finding that the treatment was not medically necessary.

Equity 97

Equity 97

Farrel Fritz

JUNE 6, 2022

Disputes over capital accounts and equity percentages are frequent fodder for business divorce litigation — especially in LLCs without operating agreements. LLC member based on an allegation that its capital contribution was a disguised loan. Moskowitz v Fischer. Moskowitz allegedly took Fischer “at his word.”

Equity 52

Equity Accounting Firms Appraisal 52

Reynolds Holding

NOVEMBER 15, 2023

The growth of the private equity industry over the past two decades has been nothing short of extraordinary. This makes it difficult to document even basic facts about how various aspects of the industry work. This controversial history prompted some scholars to search for potential explanations.

Equity 40

Equity Marketability 40

Brian DeChesare

SEPTEMBER 13, 2023

Ask anyone interested in distressed debt hedge funds for “the pitch,” and they’ll probably mention one of the following: “It’s like long/short equity or credit , but more interesting!” Distressed investing offers equity-like returns with lower risk.” Distressed assets offer non-correlated returns, similar to global macro.”

Equity 103

Equity Banking EBITDA Start-ups 103

Brian DeChesare

JULY 26, 2023

But over the years, they morphed into a well-known topic and then a commonly derided topic – as many people argue that search fund experience is worthless, while others claim it’s “just as good” as working in banking or private equity. As usual, the truth is somewhere in between. OK, So Where Does the Search Fund Internship Come into Play?

Banking 52

Banking Equity Start-ups Private Equity Firm 52

Reynolds Holding

AUGUST 14, 2023

It is de rigueur to label everything as sustainable – including in private equity. In a new working paper, we examine the claims of the top 100 private equity firms in the United States as to their committment to ESG. We read and examine every document that each firm discloses on its website. These firms represent more than $1.5

Equity 40

Equity Private Equity Firm Marketability 40

Law 360 M&A

JANUARY 23, 2025

A variety of tools can mitigate potential risk for a private equity director sitting on the board of directors of multiple companies, including the disclosure of potential conflicts in fundraising documents to help mitigate risk under the securities laws, says Michael Kendall at Goodwin.

Equity 52

Equity 52

Law 360 M&A

JULY 26, 2024

has launched a Delaware Court of Chancery lawsuit seeking company documents, citing concerns that the business was selling itself to global real estate analytics company CoStar Group in part to protect insider equity from pending litigation. A shareholder of 3D-imaging and digitization venture Matterport Inc.

Equity 52

Equity 52

Law 360 M&A

JANUARY 14, 2025

accusing the private equity giant of repeatedly flouting its merger notification requirements, "altering" or "systematically omitting" documents on some deals and failing entirely to notify enforcers of at least two, including a $6.9 Department of Justice filed an extraordinary lawsuit Tuesday against KKR & Co. billion transaction.

Equity 52

Equity 52